Financial sustainability of an economy exploratory remarks
Jean-Paul Fitoussi () and
Xavier Timbeau ()
No 2011-14, Sciences Po publications from Sciences Po
The financial crisis has revealed that the growth regime characterizing the world before 2008 was unsustainable. In effect, despite the bright performance recorded in term of GDP increase during the 2003‐2007 period, wealth was decreasing. The increased indebtedness of households was matched by overvaluated assets. When assets prices returned to earth the sheer reality appeared: we were poorer. This episode remember us a fundamental, although intuitive, fact: a process is sustainable if it does not lead us to consume so to speak the capital out of which we obtain our income. It is why an indicator of sustainability is so important to evaluate the macro economic performance of an economy and the strategy of countries (...).
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://spire.sciencespo.fr/hdl:/2441/5l6uh8ogmqil ... ources/wp2011-14.pdf (application/pdf)
Working Paper: Financial sustainability of an economy:exploratory remarks (2011)
Working Paper: Financial sustainability of an economy exploratory remarks (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spo:wpmain:info:hdl:2441/5l6uh8ogmqildh09h561k0hj4
Access Statistics for this paper
More papers in Sciences Po publications from Sciences Po Contact information at EDIRC.
Bibliographic data for series maintained by Spire @ Sciences Po Library ().