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Deflation is coming : economic perspectives for the euro area and euro area countries in 2014,2015,2016: The independant annual Growth Survey 2015

Listed author(s):
  • Xavier Timbeau

    (Observatoire français des conjonctures économiques)

  • Lars Anderson

    (Economic Council of the Labour Movement (ECLM))

  • Christophe Blot

    (Observatoire français des conjonctures économiques)

  • Jérôme Creel

    (Observatoire français des conjonctures économiques)

  • Andrew Watt

    (Macroeconomic Policy Institute (IMK))

Six years after the start of the Great Recession, the economic and socialsituation in the euro area is still depressed and fragile as shown by key macroeco-nomic indicators. Growth will not exceed 0.8% in 2014 after two consecutiveyears of recession. The risk of deflation is increasing as inflation has now been below 0.5% since May 2014.Employment has improved moderately but unemployment remains at an unacceptably high level. Consequently, inequality andthe risk of poverty are increasing significantly. In short the euro area still suffers the aftermath of the crisis and has not yet engaged in a buoyant recovery.

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Paper provided by Sciences Po in its series Sciences Po publications with number info:hdl:2441/11rbs3ln8d973bf7o2t7sfaa3a.

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Date of creation: Feb 2015
Publication status: Published in Revue de l'OFCE - Debates and Policies, 2015, vol. IAGS, pp.19-68
Handle: RePEc:spo:wpmain:info:hdl:2441/11rbs3ln8d973bf7o2t7sfaa3a
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