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The blind decades
France is often described as one of the last Western economies unable to reform itself in the face of globalization. Yet its economy has not fallen by the wayside and has even resisted the great recession that began in 2008. By interlinking historical, economic, and political factors and by comparing France with other nations, this book explains the puzzle presented by the development of France. Understanding France's economy requires downplaying the usual policy injunctions—demands for less state control and less rigidity in the labor market—and instead stressing the importance of constructing a long-term industrial strategy.
eBook
Macroeconomic fluctuations and policies
\"Born out of 15 years of teaching by Edouard Challe at institutions in France, the UK, and US, this textbook presents the basic tools for analyzing macroeconomic fluctuations and policies. Intended for students who will either go on to graduate study in economics or move directly to real-world jobs in banking, business, or government, the book applies these tools to a number of concrete issues that are encountered today. Challe uses a unified New Keynesian framework, used most commonly by academic researchers and central bankers. After a general introduction presenting some empirical and methodological elements, the book is divided into four parts. Part I provides the foundations of the modern theory of business-cycle fluctuations through the notions of aggregate demand and aggregate supply. Part II turns to the regular business cycle: it first examines how aggregate demand and supply interact and propagate the impact of macroeconomic shocks, and then pays special attention to the workings of the labor market over the business cycle. Part III is devoted to conventional macroeconomic policies: monetary policy and fiscal policy. Part IV, on the liquidity trap and unconventional macroeconomic policies, has been specifically revised for this English edition. It discusses how the US fell into financial crisis and how the crisis spread to the rest of the world. It also explores unconventional policy choices made by the US Federal Reserve and the Bank of England. It also discusses unconventional policy ideas like negative interest rates, high inflation targets, and price-level targeting. The book concludes with the study of the effects of fiscal policies and structural reforms in a liquidity trap. Chapters feature end-of-chapter problems, for which solutions will be provided\"-- Provided by publisher.
Book
The blind decades : employment and growth in France, 1974-2014
\"France is often described as one of the last Western economies that has not been able to reform itself in the face of globalization. Yet its economy has not fallen by the wayside, and it has even resisted the great recession that began in 2008. By interlinking historical, economic, and political factors, and by comparing France with other nations, this book offers keys for understanding the puzzle found in the development of France. Dynamics at work in the French case sidestep the usual injunctions--less state control or less rigidity in the labor market--and instead stress the importance of the construction of a long-term industrial strategy\"--Provided by publisher.
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