Over the course of the 1990s, the US outperformed Europe not only in output growth, but also in productivity and employment generation, thereby stopping Europe's decade-long period of catching up. The author shows that the growth difference originates at least partly from insufficient investment...

This book examines the economic challenges facing the United States, the United Kingdom, and the European Monetary Union and discusses the macroeconomic policies pursued by their authorities in detail. It highlights a range of unsuccessful monetary and fiscal policies to establish financial...