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Malinvaud on Macroeconomic Policy

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  • Henri R. Sneessens

Abstract

The objective of this brief essay is to discuss Edmond Malinvaud's contribution to the European macroeconomic policy debate, as it evolved from the early seventies till the early 2000's. I start with the concepts of Keynesian vs classical unemployment and the consequences of real wage rigidities. I next review Malinvaud's analysis of the low-skilled unemployment problem and his call for targeted labour tax exemptions. I close with a brief discussion of the respective role of macroeconomic and structural policies.

Suggested Citation

  • Henri R. Sneessens, 2017. "Malinvaud on Macroeconomic Policy," Annals of Economics and Statistics, GENES, issue 125-126, pages 153-164.
  • Handle: RePEc:adr:anecst:y:2017:i:125-126:p:153-164
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    File URL: http://www.jstor.org/stable/10.15609/annaeconstat2009.125-126.0153
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    More about this item

    Keywords

    Classical unemployment; European unemployment; Low-skilled unemployment; Wages; Labour taxes;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J6 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers

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