to the reference value around 4.5%. As a result of the policy, during the last ten years unemployment in France was twice …A linear and lagged relationship between inflation, unemployment and labor force change rate, π(t)=A0UE(t-t0)+A1dLF …. The relationship obtained for France is characterized by A0=-1, A1=4, A2=0.095, t0=4 years, and t1=4 years. For GDP …

intensive forms of industry. Hamilton’s analyses of price and wage data for 16th- and 17th-century Spain, France, and England …). But they had to rely on the same dubious and indeed often untrustworthy price and wage data for England and France (and of …