Fouet, Monique; Milewski, Françoise - In: Revue de l'OFCE 38 (1991) 1, pp. 5-64
because monetary policy can remain accomodative. Nevertheless, the recovery will be slow because it will take a long time for …) and further cuts in employment. This is the key point in the present forecast. The decrease of the number of wage … is lower interest rates, which will hardly happen before mid- 1992. On the other hand, the decrease of employment dampens …