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See detailMalinvaud on Macroeconomic Policy
Sneessens, Henri UL

in Annales d'Economie et de Statistique (2017), 125-126

The objective of this brief essay is to discuss Edmond Malinvaud’s contribution to the European macroeconomic policy debate, as it evolved from the early seventies till the early 2000’s. I start with the ... [more ▼]

The objective of this brief essay is to discuss Edmond Malinvaud’s contribution to the European macroeconomic policy debate, as it evolved from the early seventies till the early 2000’s. I start with the concepts of Keynesian vs classical unemployment and the consequences of real wage rigidities. I next review Malinvaud’s analysis of the low-skilled unemployment problem and his call for targeted labour tax exemptions. I close with a brief discussion of the respective role of macroeconomic and structural policies. [less ▲]

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See detailImmigration, occupational choice and public employment
Marchiori, Luca; Pieretti, Patrice UL; Zou, Benteng UL

in Annales d'Economie et de Statistique (2017)

This paper investigates the theoretical effects of immigration in an occupational choice model with three sectors: a low-skilled, a high-skilled and a public sector. The originality of our approach is to ... [more ▼]

This paper investigates the theoretical effects of immigration in an occupational choice model with three sectors: a low-skilled, a high-skilled and a public sector. The originality of our approach is to consider (i) inter-sectoral mobility of labor and (ii) public employment. The combination of these two features yields a new mechanism by which immigration can have positive effects. The model demonstrates that immigration increases wages in the high-skilled and the public sectors, provided that the immigrant workforce is not too large and the access to public jobs is not too easy. The average wage of natives may also increase accordingly. Moreover, immigration may improve workers’ welfare in each sector. Finally, the mechanism underlying these results does not require complementarity between natives and immigrants. [less ▲]

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See detailCanonical correlation and assortative matching: a remark
Dupuy, Arnaud UL; Galichon, Alfred

in Annales d'Economie et de Statistique (2015)

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See detailOn the Robustness of Brain Drain Estimates
Beine, Michel UL; Docquier, Frédéric; Rapoport, Hillel

in Annales d'Economie et de Statistique (2010), 97

Recent theoretical studies suggest that migration prospects can raise the ex- pected return to human capital and thus foster education investment at home or, in other words, induce a brain gain. In a ... [more ▼]

Recent theoretical studies suggest that migration prospects can raise the ex- pected return to human capital and thus foster education investment at home or, in other words, induce a brain gain. In a recent paper we used the Docquier and Marfouk (2006) data set on emigration rates by education level to examine the impact of brain drain migration on gross (pre-migration) human capital for- mation in developing countries. We found a positive e¤ect of skilled migration prospects on human capital growth in a cross-section of 127 developing coun- tries, with a short-run elasticity of about 5 percent. In this paper we assess the robustness of our results to the use of alternative brain drain measures, de nitions of human capital, and functional forms. We nd that the results hold using alternative brain drain measures controlling for whether migrants acquired their skills in the home or in the host country. We also regress other indicators of human capital investment on skilled migration rates and nd a positive e¤ect on youth literacy while the e¤ect on school enrolment depends on the exact functional speci cation chosen. Finally, we nd our resuls to be robust to using the ratio of skilled to unskilled migration rates (instead of just the former) and to controlling for the demoraphic structure of the population. This [less ▲]

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See detailSequential bargaining in a New Keynesian model with frictional unemployment and staggered wage negotiation
De Walque, Gregory; Pierrard, Olivier; Sneessens, Henri UL et al

in Annales d'Economie et de Statistique (2009), 95-96

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers’ bargaining power in the hours negotiation affects both ... [more ▼]

We consider a model with frictional unemployment and staggered wage bargaining where hours worked are negotiated every period. The workers’ bargaining power in the hours negotiation affects both unemployment volatility and inflation persistence. The closer to zero this parameter, (i) the more firms adjust on the intensive margin, reducing employment volatility, (ii) the lower the effective workers’ bargaining power for wages and (iii) the more important the hourly wage in the marginal cost determination. This set-up produces realistic labor market statistics together with inflation persistence. Distinguishing the probability to bargain the wage of the existing and the new jobs, we show that the intensive margin helps reduce the new entrants wage rigidity required to match observed unemployment volatility. [less ▲]

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