Abstract
Is Europe in decline? Over recent years, the macroeconomic performance of the European Union has been conspicuously weak, with low growth and high unemployment, in absolute terms and relative to the rest of the world. While some of this poor showing may be attributable to cyclical factors, there is clearly a more profound, structural element to the European lack of economic dynamism that so clearly revealed itself in the 1990s. But what are the major causes of this ‘structural slump’ (Phelps, 1994)?
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Fitoussi, JP., Cacheux, J.L. (2007). The Lisbon Strategy. In: Fitoussi, JP., Cacheux, J.L. (eds) Report on the State of the European Union. Report on the State of the European Union. Palgrave Macmillan, London. https://doi.org/10.1057/9780230287938_3
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DOI: https://doi.org/10.1057/9780230287938_3
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