The run up to the euro has been characterized by soft growth especially in the largest countries of the zone. This disappointing performance is often imputed to the insufficient extent of structural reforms in labour and product markets. The ECB conduct of monetary policy, and the Stability and...

The `New Economy' proponents pointing to the recent and exceptional performance of the US economy are talking about a new golden age. This new age of the economy would be the result of a combination between the implementation of new information and communication technologies, a neutral monetary...

Les années de préparation et d’installation de l’euro ont été des années de croissance faible ou médiocre dans les grands pays de la zone. Cette performance décevante est, souvent, attribuée aux défaillances des marchés de biens et du travail et, par suite, à l’insuffisante...

In sharp contrast with the buoyant economic dynamism observed in most other areas of the world, slow growth and persistently high unemployment have been characterizing the European Union (EU) economy for a number of years. This report investigates some of the possible causes of this poor...

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