La politique économique

Jacques Dreze

Reflets et perspectives de la vie économique, 2005, vol. XLIV, issue 1, 115-118

Abstract: The two-handed policies advocated ten years ago by a group of Belgian and French economists in their position paper Growth and Employment: the scope for a European initiative remain advisable today. These policies consist in substantial public investments and reductions in the cost of unskilled labour, hopefully matched by energy taxes. They are compatible with the targets of low inflation and stability provided the investments have adequate returns. But the stability pact should imperatively distinguish investments from current deficits. The paper relates these policies to recent theoretical contributions and to new issues raised by EU enlargement, demographic trends, threats of social dumping and ecological concerns.

Keywords: Growth; employment; public investment; labour costs; inflation; stability (search for similar items in EconPapers)
Date: 2005
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