Les déficits publics en Europe: causes, conséquences ou remèdes à la crise?

Jerome Creel and Henri Sterdyniak ()

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Abstract: Public deficits in europe : causes, consequences, or remedies to the crisis ? The view according to which the growth of public deficits and debts in Europe would be the primary cause for high real interest rates is of little sense in the low-demand context Europe has experienced since 1981. The growth of public deficits appeared necessary to support the level of activity and capital accumulation in situation in which govern ments had lost control over interest rates because of financial liberalization non coope rative monetary policies Central Banks independence and constraints due to the EMS Recovering this control is at stake to lower real interest rates boost growth and thus reduce public debts

Date: 1995-05
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Published in Revue Economique, 1995, 46 (3), pp.645 - 656. ⟨10.3406/reco.1995.409674⟩

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Related works:
Journal Article: Les déficits publics en Europe. Causes, conséquences ou remèdes à la crise ? (1995)
Journal Article: Les déficits publics en Europe: causes, conséquences ou remèdes à la crise ? (1995)
Working Paper: Les déficits publics en Europe: causes, conséquences ou remèdes à la crise? (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:spmain:hal-01304347

DOI: 10.3406/reco.1995.409674

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