Macroeconomic Policies and Institutions
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.
Volume (Year): (2006)
Issue (Month): Lect. VII ()
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- Jean-Paul Fitoussi, 1994.
"Wage Distribution and Unemployment: The French Experience,"
Sciences Po publications
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"A Theory of Social Custom, of Which Unemployment May be One Consequence,"
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MIT Press, vol. 94(4), pages 749-75, June.
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- 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.
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- 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).
- Jean-Paul Fitoussi & David Jestaz & Edmund S. Phelps & Gylfi Zoega, 2000. "Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 237-311.
- Jean-Paul Fitoussi & David Jestaz & Edmund S Phelps & Gylfi Zoega, 2000. "Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?," Sciences Po publications info:hdl:2441/5571, Sciences Po.
- 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.
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