La croissance potentielle de l'économie française. Une évaluation
This paper reviews the use of potential growth and output gap estimates for the assessment of the structural performance of the french economy and the orientation of macroeconomic policies. Based on a production function approach, these estimates suggest that the potential growth of the french economy ? i.e. the output growth rate consistent with a stable inflation rate ? has raised during the second half of the nineties from 2 to 2,5% yoy. Since 1997 the french economy has grown above potential, closing the output gap apparently in 2000. The raise of structural employment and the vigorous capital accumulation contributed to this transitory acceleration of potential output. In the medium run, this potential growth rate may be maintained and could raise to 3% yoy if investment remains strong and labour market reforms lead to the expected decline of structural unemployment and rise of the participation rate. Classification JEL : E20, E32, O47
When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_533_0611. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.