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An assessment of the conduct of monetary policy in Europe must necessarily be made along two distinct and complementary lines. The first is a comparison with the policies followed in the past. The second line has to assess whether monetary policy is adapted to the new conditions that came into...
Persistent link: https://www.econbiz.de/10011003238
On the 30th of August, Governing Council of the ECB decided to lower the key interest rates by 25 basis points. May be this decision was the only available in view of the evolution of core inflation in Europe, but for reasons made clear below, it is not going to ease the fiscal debate in Europe....
Persistent link: https://www.econbiz.de/10011003239
Je vous remercie de votre invitation. C’est un grand honneur pour moi de venir m’exprimer en ce lieu. Le sujet que nous allons évoquer me tient particulièrement à coeur. Je m’intéresse en effet à la force de la monnaie depuis le jour où mon fils, alors âgé de dix ans, m’a...
Persistent link: https://www.econbiz.de/10011003277
Le rapport étudie le phénomène de ségrégation urbaine, obstacle à l'intégration sociale dans de nombreux domaines tels que le travail, l'école, le logement et les équipements collectifs. Les auteurs reviennent en ce sens sur les mécanismes qui alimentent le processus de divergence...
Persistent link: https://www.econbiz.de/10011003287
Depuis le mois de juin 2000, les perspectives de croissance dans la zone euro n’ont pas été fondamentalement modifiées. Elle devrait être, en toute probabilité supérieure à 3 % pour les années 2000 et 2001, selon les prévisions réalisées avant l’été (OCDE, FMI, CE etc..). Si...
Persistent link: https://www.econbiz.de/10011003343
Two stylized facts emerge as we observe the evolution of public finances in the past few years. The first is a general trend towards a deterioration of fiscal positions, mainly due to cyclical factors (the persistently deceiving growth performance of the Euro zone). The second, a remarkable lack...
Persistent link: https://www.econbiz.de/10011003344
This paper reviews the arguments in favour and against the “Stability and Growth Pact” signed by the countries of the Euro area. We find the theoretical debate to be inconclusive, as both externality and credibility arguments can be reversed to yield opposite, and equally plausible...
Persistent link: https://www.econbiz.de/10011003349
Some papers, for reasons which remain at least partially obscure, leave a persistent trace in intellectual history. Such is the case with Keynes’ paper “Economic Possibilities for our Grandchildren”, although it never attracted much attention within the economic profession, besides...
Persistent link: https://www.econbiz.de/10011003375
L'appréciation de l’euro depuis le début de la présente décennie, après sa baisse en 1999 et 2000, et l’incertitude sur son évolution future, obscurcissent aujourd’hui l’horizon de la croissance européenne. Mais si l’on observe l’évolution passée de l’euro, reconstituée...
Persistent link: https://www.econbiz.de/10011003386
The G20 is at a critical juncture. Either it moves forward shaping the way of a new, more effective, global governance or it will become just another Gn where discourses and solemn declarations take the lead over action. There is nothing wrong in multiplying for where heads of states and...
Persistent link: https://www.econbiz.de/10011003416