Séminaire de Frédéric KARAMÉ

Séminaire de Frédéric KARAMÉ

Le 25 novembre 2025

Le prochain séminaire du GAINS se tiendra le 25 novembre 2025 de 10h30 à 12h00 dans la salle T204. Frédéric Karamé (GAINS–TEPP, IRA and Cepremap) présentera « Nonlinearities and Workers’ Heterogeneity in Unemployment Dynamics » coécrit avec Stéphane Adjemian (GAINS–TEPP, IRA and Cepremap) et François Langot (GAINS–TEPP, IRA, Cepremap, Paris School of Economics and Institut Universitaire de France).

Abstract: Based on a structural estimation, this study demonstrates that nonlinearities, coupled with worker heterogeneity, make it possible to reconcile the Diamond-Mortensen-Pissarides model with U.S. labor-market dynamics. Nonlinearities, induced by firing costs and the real minimum wage, magnify quantity adjustments, while heterogeneity concentrates those adjustments in low-wage submarkets. We simultaneously resolve several puzzles: (i) the estimated aggregate shock that enables the model to match U.S. labor-market fluctuations has a variance comparable to observed labor productivity, and its correlation with unemployment switches sign in the 1980s; (ii) the fundamental surplus is of a plausible magnitude; (iii) the dynamics along the Beveridge curve are well captured; (iv) the model reproduces U.S. wage interdecile ratios and the share of workers earning the minimum wage; and (v) the unobserved heterogeneity recovered in estimation is consistent with observed job-flow patterns by educational attainment.

Pour ceux qui ne peuvent pas venir en présentiel, voici un lien zoom:

https://univ-lemans-fr.zoom.us/j/91682206993?pwd=dLaxYFL0Dh3hVgIIKE75X1RE2FeOWi.1

Meeting ID: 916 8220 6993
Passcode: 990488