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Macroeconomic Policies and Institutions

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Author Info
Jean-Paul Fitoussi

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Abstract

Why since at least two decades macroeconomic policies have been so active in the US and so passive in Europe? I contend that social norms have changed and that the new norms call for a greater degree of inequality. Then macroeconomic policies have to be active in the United States and passive in Europe. The change in the social norm was mainly led by the new generation of elites born after WW2 educated in a context where individual successes were more affected to individuals than to the collective action which has contributed to build the public goods they have benefited from.

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File URL: http://www.rivistapoliticaeconomica.it/2005/nov-dic/Fitoussi_eng.pdf
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Article provided by SIPI Spa in its journal 'Angelo Costa' Lectures Serie.

Volume (Year): (2006)
Issue (Month): Lect. VII ()
Pages:
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Handle: RePEc:rpo:leanco:2006

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References listed on IDEAS
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.:
  1. Richard B. Freeman, 2005. "Labour Market Institutions Without Blinders: The Debate over Flexibility and Labour Market Performance," NBER Working Papers 11286, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Fitoussi, Jean-Paul, 1994. "Wage Distribution and Unemployment: The French Experience," American Economic Review, American Economic Association, vol. 84(2), pages 59-64, May. [Downloadable!] (restricted)
  3. Fitoussi, J-P & Jestaz, D. & Phelps, E.S. & Zoega, G., 2000. "Roots of the Recent Recoveries : Labor Reforms or Private-Sector Forces ?," Documents de Travail de l'OFCE 2000-04, Observatoire Francais des Conjonctures Economiques (OFCE). [Downloadable!]
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  4. Akerlof, George A, 1980. "A Theory of Social Custom, of Which Unemployment May be One Consequence," The Quarterly Journal of Economics, MIT Press, vol. 94(4), pages 749-75, June. [Downloadable!] (restricted)
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  5. Richard B. Freeman, 2000. "Single Peaked Vs. Diversified Capitalism: The Relation Between Economic Institutions and Outcomes," NBER Working Papers 7556, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Cited by:
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  1. Mauro Napoletano & Jean-Luc Gaffard, 2009. "Country Size, Appropriate Policy, and Economic Performance: Some Evidence from OECD Countries," Documents de Travail de l'OFCE 2009-08, Observatoire Francais des Conjonctures Economiques (OFCE). [Downloadable!]
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This page was last updated on 2009-12-2.

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