Macroeconomic policy and potential growth - Sciences Po Accéder directement au contenu
Pré-Publication, Document De Travail Année : 2015

Macroeconomic policy and potential growth

Résumé

We make the case for investigating the gap between the potential and the actual level of production, and review contributions that point to the reduced power of standard policy in- struments in presence of a prolonged gap. We also highlight di¢ culties in measuring where an economy stands relative to its potential. We review links between human capital accumulation and technology, and sketch a basic Schumpeterian model that puts at the center stage of the growth process investments in innovation and the foundation of new Örms, arguably two key sources of growth that could revitalize the faltering European Economies. The gap between the short and long run behavior is illustrated through quantitative experiments.
Fichier principal
Vignette du fichier
wp2015-15-1-1.pdf (474.28 Ko) Télécharger le fichier
Origine : Fichiers éditeurs autorisés sur une archive ouverte

Dates et versions

hal-03459896 , version 1 (01-12-2021)

Identifiants

Citer

Jérôme Creel, Maurizio Iacopetta. Macroeconomic policy and potential growth. 2015. ⟨hal-03459896⟩
12 Consultations
3 Téléchargements

Partager

Gmail Facebook X LinkedIn More