Analyse : politiques et institutions macroéconomiques : le cas européen

Dans ce document de travail, Jean-Paul Fitoussi, président de l’OFCE, tente de comprendre la différence entre les stratégies de politique économique des deux côtés de l’Atlantique. 

Why since at least two decades macroeconomic policies have been so active in the US and so passive in Europe? Why governments in Europe do accept rather passively a persistent high level of unemployment? What explains their apparent resignation to a slow growth trend? Is there a fundamental difference in institutions that can explain such a prolonged difference in growth performances?

In this policy paper, Jean-Pierre Fitoussi, president of the OFCE, provides these questions with various answers according to the periods considered. 

To read the policy paper in full, please click here.