This first report clarifies some questions and clearly establishes that productivity and competitiveness are two different concepts with very different implications, in particular within the context of a monetary union. Productivity gains are the main source of growth in industrialised countries. Understanding the sources of its slowdown over the past twenty years is therefore a fundamental issue. This slowdown constitutes a puzzle which is not completely understood today, and which has given rise to a debate around the concept of "secular stagnation". If the low productivity gains scenario were to become persistent, it would imply a stagnation in purchasing power for most people as well as difficulties in financing the ecological transition and social protection for instance, in a context of growing ageing-related needs. More...
8 mai 2019
Productivity and competitiveness: where does France stand in the euro zone?
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