A View From the Country Next Door: A Radical Economic Reform for France
In the US, the new administration is hard at work. It has identified its economic priorities, and is defining a clear and bold strategy. Its determination and its programs are raising hope and optimism. In France, elections are coming, with the all but certain promise of a change in government. But all they are bringing is gloom. From this side of the ocean, France and its politicians appear paralyzed. After more than a decade of high, and now again rising, unemployment, the consensus seems to be that France is just too small, its margin of maneuver too limited, for policies to make much of a difference. France, the argument goes, can control its inflation rate, but not its unemployment rate.
KeywordsExchange Rate Interest Rate Real Exchange Rate Exchange Rate Regime Short Rate
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