WorldCat Identities

Wasmer, Etienne

Overview
Works: 83 works in 293 publications in 3 languages and 1,058 library holdings
Roles: Author, Editor, 958, Thesis advisor
Classifications: HD4904.7, 331.11
Publication Timeline
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Most widely held works by Etienne Wasmer
Education and training in Europe by Giorgio Brunello( Book )

18 editions published between 2004 and 2007 in English and held by 179 WorldCat member libraries worldwide

Europe is one of the richest and most educated areas of the world, yet it faces low economic growth, structural difficulties in the labour market, and stiff international competition. This book looks at the current state of play in education and training in Europe and asks what policies are necessary to ensure Europe can meet future labour demands
État moderne , État efficace : évaluer les dépenses publiques pour sauvegarder le modèle français by Marc Ferracci( Book )

4 editions published in 2011 in French and held by 47 WorldCat member libraries worldwide

Are Specific Skills an Obstacle to Labor Market Adjustment? by Ana Lamo( Book )

12 editions published between 2006 and 2010 in English and German and held by 40 WorldCat member libraries worldwide

This paper shows that specialized education reduces workers' mobility and hence their ability to cope with economic changes. We illustrate this point using labor force data from two countries having experienced important macroeconomic turbulence; a large economy with rigid labor markets, Poland, and a small open economy with increased flexibility, Estonia. We find that holding a vocational degree is associated with much longer unemployment duration spells and higher likelihood of leaving activity for older workers. We then build a theoretical framework in which young agents' careers are heavily determined by the type of initial education, and analyze the transition to a new steady-state after a sectoral demand shift. Quantitative exercises suggest that the over-specialization of the labor force in Poland led to much higher and persistent unemployment compared to Estonia during the period of EU enlargement. Traditional labor market institutions (wage rigidity and employment protection) lead to an increase of the unemployment gap, but to a lesser extent. -- specific skills ; vocational education ; transition countries ; EU enlargement
Labour supply dynamics, unemployment and human capital investments by Etienne Wasmer( Book )

17 editions published between 1998 and 2002 in English and held by 36 WorldCat member libraries worldwide

In the last decades, the OECD labor markets faced important labor supply changes with the arrival of women and the cohorts of the baby-boom. Using a survey where workers declare their true employment experience, this paper argues that these supply trends imply more inexperienced workers. It then investigates the important consequences of this fact on the skill composition of the labor force, between-groups wage inequality and the level of unemployment. The main result is that a labor market with wage rigidities may not recover from such a temporary labor supply shock: with a younger and less experienced labor force, there is higher unemployment among low-experience workers, they do not accumulate enough on-the-job human capital, this reduces in the long-run the supply of skilled (experienced) workers and the demand for unskilled workers. This intertemporal multiplication of supply shocks generates multiple equilibria, and the rigid economy is stuck to the bad equilibrium even after the shock. In a competitive market, in contrast, wage inequality and notably, the wage return to experience becomes higher but there is no persistence of the supply shock. Higher education prevents this intertemporal multiplication of supply shocks
The macroeconomics of labour and credit market imperfections by Etienne Wasmer( Book )

14 editions published between 2000 and 2002 in English and held by 35 WorldCat member libraries worldwide

Labor market frictions are not the only possible factor responsible for high unemployment. Credit market imperfections, driven by microeconomic frictions and impacted upon by macroeconomic factors such as monetary policy, could also be to blame. This paper shows that labor and credit market imperfections interact in a complementary way - which may explain why European and US unemployment differ so much when labor markets have become more similar at the margin in Europe and the US. To develop this idea, we build a search model that treats credit and labor market imperfections in a symmetrical way. We introduce specificity in credit relationships, and assume that credit to potential entrepreneurs is rationed due to endogenous search frictions, in the spirit of Diamond (1990). These imperfections mirror the job search frictions that we introduce, à la Mortensen- Pissarides (1994), in the labor market
Labour market efficiency, wages and employment when search frictions interact with intrafirm bargaining by Pierre Cahuc( Book )

14 editions published in 2001 in English and held by 28 WorldCat member libraries worldwide

In search of a macroeconomic theory of wage determination, the agnostic reader should be puzzled by the apparent contradiction between two influential theories. On one hand, in the standard search-matching theory with wage bargaining, hiring cost and constant returns of labor, the bargaining power of employees allows them to get rents and gives rise either to overemployment or to under-employment compared with the first-best. On the other hand, in Stole and Zwiebel's theory of intrafirm bargaining with no hiring cost and decreasing returns of labor, the bargaining power of employees does not allow them to get rent and always gives rise to over-employment. In this paper, we try to reconcile the approaches. A simple matching model with large firms and diminishing marginal productivity of labor allows us to show that the two limit cases described above yield a mix of robust and non robust results: In the most general case, employees get rents and there is more frequently over employment compared to the efficient allocation than in the standard search-matching model
The economics of Prozac: Do employees really gain from strong employment protection? by Etienne Wasmer( )

8 editions published in 2006 in English and held by 27 WorldCat member libraries worldwide

Between-group competition in the labour market and the rising returns to skill : US and France 1964-2000 by Etienne Wasmer( Book )

12 editions published in 2001 in English and held by 27 WorldCat member libraries worldwide

This paper describes the changes in the composition of the labor force in the last 35 years and quantifies the substitution of low education / high experience workers by low experience / high education workers by using US and French microdata. The consequences of this substitution on the wage structure are then investigated. In the US, labor supply changes can explain the changes in returns to experience. It also accounts for a part of the increase in returns to education between 1980 and 2000, between 8% and 20% depending on the specification. These results rely on panel estimates of a useful concept: the elasticity of substitution between experience and education, which is found to be less than half. In France, the covariations of prices and the supply of skills are consistent with a pure labor supply explanation. Methodologically, the paper shows that the use of a stock measure of efficient units of skills is better than flow measures (e.g. cohort size). It also allows to analyze the consequences of rising female labor participation
Higher education levels, firms' outside options and the wage structure by Åsa Rosén( Book )

9 editions published between 2001 and 2002 in English and held by 27 WorldCat member libraries worldwide

We analyze the consequences of an increase in the supply of highly educated workers on relative and real wages in a search model where wages are set by Nash-bargaining. The key insight is that an increase in the supply of highly educated workers improves the firms' outside option. As a consequence, the real wage of all workers decreases in the short-run. Since this decline is more pronounced for less educated workers, wage inequality increases. In the long-run a better educated work force induces firms to invest more in physical capital. Wage inequality and real wages of highly educated workers increase while real wages of less educated workers may decrease. These results are consistent with the U.S. experience in the 70s and 80s. Based upon differences in legal employment protection we also provide an explanation for the diverging evolution of real and relative wages in Continental Europe
Mobility in Europe : why it is low, the bottlenecks, and the policy solutions by Alexandre Janiak( Book )

10 editions published in 2008 in English and held by 26 WorldCat member libraries worldwide

"This report studies how adjustments in the European labour markets are a major source of economic resilience and integration. As such, they warrant in-depth understanding and close monitoring in the specific context of Eurozone and national fiscal policies.."--Publication information page
Can labour supply explain the rise in unemployment and inter-group wage inequality in the OECD? by Etienne Wasmer( Book )

9 editions published between 1997 and 1998 in English and held by 23 WorldCat member libraries worldwide

Equilibrium urban unemployment by Etienne Wasmer( Book )

10 editions published in 1997 in English and held by 22 WorldCat member libraries worldwide

Competition for jobs in a growing economy and the emergence of dualism by Etienne Wasmer( Book )

10 editions published between 1996 and 1997 in English and Undetermined and held by 21 WorldCat member libraries worldwide

Interpreting European and US labour market differences : the specificity of human capital investments by Etienne Wasmer( Book )

7 editions published in 2003 in English and held by 21 WorldCat member libraries worldwide

Moving towards a single labour contract pros, cons and mixed feelings by Nicolas Lepage-Saucier( )

1 edition published in 2013 in English and held by 19 WorldCat member libraries worldwide

Does space affect search? : a theory of local unemployment by Etienne Wasmer( Book )

6 editions published in 1999 in English and held by 18 WorldCat member libraries worldwide

Local social capital and geographical mobility: some empirics and a conjecture on the nature of European unemployment by Quentin David( )

3 editions published in 2008 in English and held by 16 WorldCat member libraries worldwide

Equilibrium search unemployment, endogenous participation and labour market flows by Pietro Garibaldi( Book )

5 editions published in 2003 in English and held by 15 WorldCat member libraries worldwide

Equilibrium search unemployment with explicit spatial frictions by Etienne Wasmer( Book )

10 editions published between 2004 and 2005 in English and held by 13 WorldCat member libraries worldwide

"Assuming that job search efficiency decreases with distance to jobs, workers' location in a city depends on spatial elements such as commuting costs and land prices and on labour elements such as wages and the matching technology. In the absence of moving costs, we show that there exists a unique equilibrium in which employed and unemployed workers are perfectly segregated but move at each employment transition. We investigate the interactions between the land and the labour market equilibrium and show under which condition they are interdependent. When relocation costs become positive, a new zone appears in which both the employed and the unemployed co-exist and are not mobile. We demonstrate that the size of this area goes continuously to zero when moving costs vanish. Finally, we endogeneize search effort, show that it negatively depends on distance to jobs and that long and short-term unemployed workers coexist and locate in different areas of the city"--Forschungsinstitut zur Zukunft der Arbeit web site
A steady-state model of a non-walrasian economy with three imperfect markets by Etienne Wasmer( )

3 editions published in 2011 in English and German and held by 1 WorldCat member library worldwide

Unemployment may depend on equilibrium in other markets than the labor markets. This paper adresses this old idea by introducing search frictions on several markets: in a model of credit and labor market imperfections as in Wasmer and Weil (2004), I further introduce search on the goods market. The model can be solved by blocks: on two of the three markets, the relevant "market tightness" is a constant of parameters. In particular, goods market tightness, expressed as the ratio of unmatched consumers to unmatched firms, is equal to 1 which corresponds to a stochastic Say's law: demand and supply are stochastically in equilibrium. Financial market tightness is also a function of three parameters related to financial frictions. Job creation and employment depend on the equilibrium in the other markets. Reciprocally, higher job destruction implies more volatility of income of individual consumers and higher destruction of consumption matches. This lowers profits and further reduces job creation. Finally, there are complementarities between frictions in each market: in particular, the marginal effect of financial frictions on equilibrium unemployment is amplified by goods market frictions and vice versa. -- search ; matching ; unemployment ; goods market imperfections
 
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Education and training in Europe
Alternative Names
Wasmer, E. 1970-

Languages
English (175)

French (4)

German (2)

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