The Goldilocks economy of the United States in comparison with Europe: an analysis with EUROMON
The economic development in the United States has been very successful over the past decade, with high economic growth being accompanied by relatively low inflation. This article explores this development, comparing the economy of the United States with that of the EMU. In addition, it considers the contrasts between the large and the small EMU countries as regards the correlation between inflation and unemployment. Analyses based on simulations using the Bank's multicountry model EUROMON show how the economy in the United States would have developed in circumstances more typical of a 'standard economy', to which the traditional Phillips curve applies. Subsequently, also drawing on simulations, this article discusses several aspects of the new economy in the United States and the EMU, i.e. spending impulses in combination with more scope for market forces, and in combination with technological progress, for example, in the field of computers and information.
|Date of creation:||Mar 2000|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- W. Bolt & P.J.A. van Els, 2000.
"Output Gap and Inflation in the EU,"
DNB Staff Reports (discontinued)
44, Netherlands Central Bank.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:29633. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.