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Performances économiques des Etats-Unis dans les années nonante

Author

Listed:
  • Alain Nyssens

    (National Bank of Belgium, Research Department)

  • Paul Butzen

    () (National Bank of Belgium, Research Department)

  • Patrick Bisciari

    () (National Bank of Belgium, Research Department)

Abstract

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.

Suggested Citation

  • Alain Nyssens & Paul Butzen & Patrick Bisciari, 2000. "Performances économiques des Etats-Unis dans les années nonante," Working Paper Document 3, National Bank of Belgium.
  • Handle: RePEc:nbb:docwpp:200003-3
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    File URL: https://www.nbb.be/doc/oc/repec/docwpp/wp03.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. 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.
    4. 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.
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    Citations

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    Cited by:

    1. Ivo Maes, 2002. "On the origins of the Franco-German EMU controversies," Working Paper Research 34, National Bank of Belgium.
    2. George VAN GASTEL & François COPPENS & Hilde MEERSMAN & Nathalie SELLEKAERTS & Eddy VAN DE VOORDE & Thierry VANELSLANDER & Ann VERHETSEL, "undated". "Economic Impact of Port Activity: A Disaggregate Analysis. The Case of Antwerp," Regional and Urban Modeling 284100044, EcoMod.
    3. Geert Langenus, 2006. "Fiscal sustainability indicators and policy design in the face of ageing," Working Paper Research 102, National Bank of Belgium.
    4. Jeanfils, P., 2000. "A Model with Explicit Expectations for Belgium," Papers 4, Warwick - Development Economics Research Centre.
    5. Luc Aucremann & David Cornille, 2001. "Attractive prices and euro-rounding effects on inflation," Working Paper Document 17, National Bank of Belgium.

    More about this item

    JEL classification:

    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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