PUBLICATIONS | Briefing Papers
2012
March 2012
Mauro Napoletano, Jean-Luc Gaffard et Zakaria Babutsidze
Are current economic models well equipped to provide useful policy prescriptions? Many economists would have certainly answered, “yes” before the recent Global Recession. This economic crisis has not only demonstrated the importance of banking and financial markets for the dynamics of real economies. It has also revealed the inadequacy of the dominant theoretical framework. Standard models have indeed failed to forecast the advent of the crisis. In addition, they have been unable to indicate a therapy able to restore economic growth...
January 2012
Éric Heyer and Mathieu Plane
Do people work less in France than in the rest of Europe? Is France the only country to have reduced working time in the last decade? Is the 35-hour work week really dragging down the French economy? The report published on 11 January by the Coe-Rexecode Institute provides fresh material for answering these questions...
January 2012
OFCE Department of Analysis and Forecasting under the direction of Xavier Timbeau
Under the direction of Xavier Timbeau The growth outlook for the developed countries, in Europe in particular, has deteriorated dramatically in recent weeks. The “voluntary and negotiated” devaluation of Greek sovereign debt securities, which is really nothing but a sovereign default, the wave of budget cuts being announced even as the budget bills are still debated, the inability of the European Union to mobilize its forces in the crisis – all these factors render the forecasts made two months ago obsolete. For many European countries, including France, 2012 will be a year of recession...