Abstract
Europe’s key challenges of restoring full employment, creating a knowledge-based economy, preparing for population ageing and safeguarding social cohesion are closely interlinked and, as stressed in the EU Broad Economic Policy Guidelines (BEPG), need to be addressed by a coherent and comprehensive economic policy strategy for the medium to long term. The overarching objective of this strategy is to enhance the capacity of the EU economy to generate high rates of non- inflationary growth over a prolonged period. Basically, this requires the EU to press ahead with deep, comprehensive reforms of product, capital and labour markets, backed up by a sound macroeconomic policy mix aiming at sustained rates of growth close to potential within an environment of price stability.
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© 2004 International Economic Association
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Pichelmann, K., Roeger, W. (2004). Structural Reforms in Labour and Product Markets and Macroeconomic Performance in the European Union. In: Solow, R.M. (eds) Structural Reform and Economic Policy. International Economic Association Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230524446_5
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DOI: https://doi.org/10.1057/9780230524446_5
Publisher Name: Palgrave Macmillan, London
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