This paper examines the notion of « equilibrium rate of unemployment » (ERU). An « asymmetric » wage-price setting based on a wage Phillips curve and on a price equation in level leads to a clear distinction between medium and long run ERU, as to a kind of reconciliation between WS/PS and...

French GDP is expected to fall slightly in 2013(-0.2%)and recover by a modest 0.6% in 2014. Five years after thestart of the crisis, the French economy has a strong potential for recovery: GDP could grow spontaneously by2.6%per year on average in 2013 and 2014. But this spontaneousrecovery...