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Négociation salariale en terme réel et en terme nominal: Une analyse des propriétés dynamiques d'un modèle avec contrats échelonnés

Published online by Cambridge University Press:  17 August 2016

Jean-Christophe Pereau
Jean-Christophe Pereau*
Affiliation:
Université de Marne la Vallée, OEP
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Résumé

Nous analysons les propriétés dynamiques d'un modèle à contrats de salaires échelonnés selon différentes spécifications des règles salariales, en terme nominal et en terme réel. Nous montrons que ces dernières permettent d'enrichir la dynamique de court terme des équations de salaires. Elles impliquent une inertie du taux d'inflation et donc une persistance des chocs monétaires. Nous procédons ensuite à l'étude d'une réduction du taux de croissance de l'offre de monnaie. En présence de règles en terme réel, les résultats des simulations mettent en évidence à la fois des dynamiques cycliques de l'activité économique du fait de l'existence de valeurs propres complexes et un coût réel en terme de chômage et de production plus important relativement à une règle salariale en terme nominal.

Summary

Summary

This paper analyses the behaviour of an economy characterized by staggered wage contracts and rational expectations. We consider three contracting specifications, in nominal term in spirit of Taylor [1980], in real term when wage bargainers only care about the price lever associated with the first period of the wage contract's life (Fuhrer and Moore [1995]) and in real term when contracting agents care about the current and expected price level over the all duration of the contract (Butter and Jewitt [1981]). Then, we compute the dynamics patins associated with unexpected change in the growth rate of money supply. We show that contract in real terms induce complex eigen values which implies oscillations in the output's dynamic. The recession of the output following the fall in the growth rate of money proved to be much stronger with contract in real term rather in nominal term.

Keywords

E31E37E52E31E37E52
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 64 , Issue 3 , 1998 , pp. 293 - 317
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1998 

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Footnotes

(*)

Je remercie les deux rapports anonymes des Recherches Economiques de Louvain pour leurs commentaires et suggestions

References

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