-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for … 1990s. However, this concept has not been able to generate sustained growth and low unemployment in the EU as a whole … promises more growth and employment for Europe in the long run. …

In order to explain slow growth and high unemployment in the Euro area, in particular if compared to the USA, we follow …) seems to be the major obstacle to higher growth and employment. Analysing the macroeconomic policy mix, wage policies and … little attention to the development of real variables. In order to improve growth and employment and to limit the risks of …

Growth Pact (SGP). Quite obviously the SGP has been unsuccessful in fulfilling its goals, fiscal sustainability and … supporting economic growth. More and more countries have exceeded the 3 percent of GDP limit for the budget deficit, while at the …

alternative policy proposals is to generate sustainably high demand and output growth in the euro area as a whole, providing high … “balance-of-payments-constrained growth rate.” Based on this framework, we outline the required stance for alternative economic …

In order to explain slow growth and high unemployment in the Euro area, in particular if compared to the USA, we follow …) seems to be the major obstacle to higher growth and employment. Analysing the macroeconomic policy mix, wage policies and … little attention to the development of real variables. In order to improve growth and employment and to limit the risks of …

-)Keynesian analysis is presented as a growth and employment-oriented alternative to this restrictive policy mix. Contrary to the strict … alternative requires the coordination of monetary, fiscal and wage policies in order to achieve growth, high employment and price …