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Macroeconomic Policies and Institutions

Author

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  • Jean-Paul Fitoussi

    (OFCE, Paris)

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.

Suggested Citation

  • Jean-Paul Fitoussi, 2005. "Macroeconomic Policies and Institutions," Rivista di Politica Economica, SIPI Spa, vol. 95(6), pages 9-30, November-.
    • Handle: RePEc:rpo:ripoec:v:95:y:2005:i:6:p:9-30
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    File URL: http://www.rivistapoliticaeconomica.it/2005/nov-dic/Fitoussi_eng.pdf
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Austerity and Ideology
      by Francesco Saraceno in Sparse Thoughts of a Gloomy European Economist on 2013-01-08 22:01:16
    2. Draghi Wants the Cake, and Eat It
      by Francesco Saraceno in Sparse Thoughts of a Gloomy European Economist on 2016-02-16 17:31:54

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Fiorella Kostoris Padoa Schioppa, 2006. "The 2005 Reform of the Stability and Growth Pact: Too Little, Too Late?," Bruges European Economic Research Papers 6, European Economic Studies Department, College of Europe.
    2. Alessandro Morselli, 2024. "The Conventionalist Approach in the Analysis of Unemployment," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2024(2), pages 149-161.
    3. Howell David R. & Baker Dean & Glyn Andrew & Schmitt John, 2007. "Are Protective Labor Market Institutions at the Root of Unemployment? A Critical Review of the Evidence," Capitalism and Society, De Gruyter, vol. 2(1), pages 1-73, May.
    4. repec:spo:wpecon:info:hdl:2441/3201 is not listed on IDEAS
    5. repec:spo:wpmain:info:hdl:2441/9909 is not listed on IDEAS
    6. Jean-Paul Fitoussi & Francesco Saraceno, 2013. "European economic governance: the Berlin–Washington Consensus," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(3), pages 479-496.
    7. Mauro Napoletano & Jean-Luc Gaffard, 2009. "Country Size, Appropriate Policy, and Economic Performance: Some Evidence from OECD Countries," Sciences Po Economics Publications (main) hal-00973080, HAL.
    8. Olfa Alouini, 2009. "Country size, economic performance and the political economy of the euro zone : an empirical study of the size divide," Documents de Travail de l'OFCE 2007-01, Observatoire Francais des Conjonctures Economiques (OFCE).
    9. repec:spo:wpmain:info:hdl:2441/53r60a8s3kup1vc9k2c8h4u2h is not listed on IDEAS
    10. Jean‐Paul Fitoussi & Francesco Saraceno, 2008. "Fiscal Discipline as a Social Norm: The European Stability Pact," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(6), pages 1143-1168, December.
    11. repec:spo:wpecon:info:hdl:2441/53r60a8s3kup1vc9k2c8h4u2h is not listed on IDEAS
    12. Guillaume Daudin & Jean-Luc Gaffard & Francesco Saraceno, 2007. "Ordre et désordre dans l'échange international," Sciences Po Economics Publications (main) hal-03459556, HAL.
    13. David R. Howell & Dean Baker & Andrew Glyn & John Schmitt, 2006. "Are Protective Labor Market Institutions Really at the Root of Unemployment? A Critical Perspective on the Statistical Evidence," CEPR Reports and Issue Briefs 2006-14, Center for Economic and Policy Research (CEPR).
    14. repec:spo:wpecon:info:hdl:2441/9909 is not listed on IDEAS
    15. repec:spo:wpmain:info:hdl:2441/3201 is not listed on IDEAS

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