Growth and employment in the European perspective
AbstractThe Western European debt deflation, which induced a severe reecession in 1992-93, is now giving way to a recovery for which both external and internal conditions appear favorable. The question remains, however; to know whether macroeconomic instability is not going to be more and more pronounced in the future. Faced with persistent unemployment, Western European countries ought not only to reduce rigidities in their economies but also to consider two medium-term policy proposals that were recently studied: a substantial selective decrease in the cost of unskilled labor and ambitious public investment programmes. The paper ends with a brief discussion of long-run challenges: the welfare state, European unification, the conditions for non-inflationary wage formation.
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Bibliographic InfoArticle provided by Finnish Economic Association in its journal Finnish Economic Papers.
Volume (Year): 9 (1996)
Issue (Month): 1 (Spring)
Find related papers by JEL classification:
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Giavazzi, Francesco & Pagano, Marco, 1995.
"Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience,"
CEPR Discussion Papers
1284, C.E.P.R. Discussion Papers.
- Francesco Giavazzi & Marco Pagano, 1996. "Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience," NBER Working Papers 5332, National Bureau of Economic Research, Inc.
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