Performances économiques des Etats-Unis dans les années nonante
This article gives a general overview of economic developments in the United States in the nineties and aims to highlight certain structural characteristics underlying them. The performance of the American economy is situated in a longer-term perspective and compared with those of other advanced economies. This article also offers a cautious explanation of the extremely sustained and non-inflationist growth during the second half of the last decade. To this end, three approaches have been used: an analysis of demand determinants; growth accounting; and a "Structural Vector Autoregressive" model to disentangle the contribution of demand and supply factors. Since labour supply appears to have made a substantial contribution to American growth, the article also includes an evaluation of the role layed by demographic factors and the organisation of the labour market in developments in employment and unemployment in the United States, as well as in the eurozone. Special attention is also paid to the imbalances shown by the American economy and, more particularly, to the question of the sustainability of the current deficit.
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References listed on IDEAS
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- Blanchard, Olivier Jean & Quah, Danny, 1989.
"The Dynamic Effects of Aggregate Demand and Supply Disturbances,"
American Economic Review,
American Economic Association, vol. 79(4), pages 655-673, September.
- Olivier Jean Blanchard & Danny Quah, 1988. "The Dynamic Effects of Aggregate Demand and Supply Disturbance," Working papers 497, Massachusetts Institute of Technology (MIT), Department of Economics.
- Olivier Jean Blanchard & Danny Quah, 1988. "The Dynamic Effects of Aggregate Demand and Supply Disturbances," NBER Working Papers 2737, National Bureau of Economic Research, Inc.
- Maddison, Angus, 1987. "Growth and Slowdown in Advanced Capitalist Economies: Techniques of Quantitative Assessment," Journal of Economic Literature, American Economic Association, vol. 25(2), pages 649-698, June.
- Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
- Jacobson, Tor & Vredin, Anders & Warne, Anders, 1997. "Common trends and hysteresis in Scandinavian unemployment," European Economic Review, Elsevier, vol. 41(9), pages 1781-1816, December. Full references (including those not matched with items on IDEAS)