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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

Author

Listed:
  • 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))

Abstract

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.

Suggested Citation

  • Xavier Timbeau & Lars Anderson & Christophe Blot & Jérôme Creel & Andrew Watt, 2015. "Deflation is coming : economic perspectives for the euro area and euro area countries in 2014,2015,2016: The independant annual Growth Survey 2015," Sciences Po publications info:hdl:2441/11rbs3ln8d9, Sciences Po.
  • Handle: RePEc:spo:wpmain:info:hdl:2441/11rbs3ln8d973bf7o2t7sfaa3a
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    References listed on IDEAS

    as
    1. Mathieu Plane & Georges Pujals, 2009. "Les banques dans la crise," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 179-219.
    2. Bernanke, Ben & Gertler, Mark & Gilchrist, Simon, 1996. "The Financial Accelerator and the Flight to Quality," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 1-15, February.
    3. Guilhem Bentoglio & Guillaume Guidoni, 2009. "Les banques centrales face à la crise," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 291-333.
    4. Christophe Blot & Sabine Le Bayon & Matthieu Lemoine & Sandrine Levasseur, 2009. "De la crise financière à la crise économique. Une analyse comparative France-États-Unis," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 255-281.
    5. Alistair Milne & Geoffrey E. Wood, 2008. "Banking crisis solutions old and new," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 517-530.
    6. Claudio Borio & William Nelson, 2008. "Monetary operations and the financial turmoil," BIS Quarterly Review, Bank for International Settlements, March.
    7. Peter Hördahl & Michael R King, 2008. "Developments in repo markets during the financial turmoil," BIS Quarterly Review, Bank for International Settlements, December.
    8. Karl E. Case & Robert J. Shiller, 2003. "Is There a Bubble in the Housing Market?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 299-362.
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    Cited by:

    1. Gheorghe HURDUZEU & Maria-Isadora LAZAR, 2015. "An Assessment of Economic Stability under the New European Economic Governance," Management Dynamics in the Knowledge Economy Journal, College of Management, National University of Political Studies and Public Administration, vol. 3(2), pages 301-315, June.

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