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Wherein Do the European and American Models Differ?

Author

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  • Samuelson, P.A.

Abstract

Particularly in the 1990s economists in America have been surprised by how good or how lucky has been our macro performance compared to our peers abroad. We pinch ourselves and ask: "What went right?" And, by implication, authorities in Europe must be looking in their mirror and wondering: "Where had we been going wrong? What one fool can do, why can't another?" While Europe has attained and maintained two-digit rates of unemployment, in America there have been created tens of millions of new jobs. And for the most part this has not been bought at the expense of accelerating price inflation and a short-lived full employment.

Suggested Citation

  • Samuelson, P.A., 1997. "Wherein Do the European and American Models Differ?," Papers 320, Banca Italia - Servizio di Studi.
  • Handle: RePEc:fth:banita:320
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Paul Samuelson, noblista z 1970 r., nie żyje
      by e.G in Obserwator Finansowy on 2009-12-14 22:30:24

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    Cited by:

    1. Annamaria Simonazzi & Paola Villa, 1999. "Flexibility and Growth," International Review of Applied Economics, Taylor & Francis Journals, vol. 13(3), pages 281-311.

    More about this item

    Keywords

    EUROPE ; MACROECONOMICS;

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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