Growth and employment in the European perspective

Edmond Malinvaud

Finnish Economic Papers, 1996, vol. 9, issue 1, 6-17

Abstract: The Western European debt deflation, which induced a severe reecession in 1992-93, is now giving way to a recovery for which both external and internal conditions appear favorable. The question remains, however; to know whether macroeconomic instability is not going to be more and more pronounced in the future. Faced with persistent unemployment, Western European countries ought not only to reduce rigidities in their economies but also to consider two medium-term policy proposals that were recently studied: a substantial selective decrease in the cost of unskilled labor and ambitious public investment programmes. The paper ends with a brief discussion of long-run challenges: the welfare state, European unification, the conditions for non-inflationary wage formation.

JEL-codes: E32 E50 E60 J23 (search for similar items in EconPapers)
Date: 1996
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:fep:journl:v:9:y:1996:i:1:p:6-17

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