[eng] Nominal and Real Convergence in EC and EFTA countries This paper estimates the speed of convergence towards German values of nominal and real macroeconomic indicators of EC and EFTA countries for the last twenty years (for real GDP per capita we consider the period 1950- 1988). We use a...

[fre] A la mi-1993, la reprise américaine semble encore hésitante. La progression de l'activité est inhabituellement lente, les créations d'emplois sont tardives. Cette reprise est par ailleurs atypique parce que fondée sur l'investissement des entreprises plus que sur la consommation des...

[eng] Fiscal policy : the case of defence Jean-Marc Daniel After the end of the Cold War and the collapse of the USSR, western countries decided to reduce their military expenditures. In France, even if the threat of communism dees not exist any longer, the importance of the army in the...

[eng] Stylized trends and cycles in the G7 countries : a stochastic approach Jacky Fayolle, Alexandre Mathis To present stylized cyclical movements of the G7 countries, this paper uses the unobservable components models proposed by Harvey (1985, 1989). To fit the dynamics, the set of...

[eng] European Monetary Union: A Survey This survey considers the broad themes of European Monetary Union: optimal currency areas; a European Central Bank (ECB); and European fiscal policy. Each of these themes is the subject of controversy in the political arena as well as in the theoretical...

[eng] The Stakes of European Integration By eliminating exchange rate uncertainty and achieving a unified European market, the single currency is an important step in the transition from the nation states of the nineteenth century to continental states. But along the steep path which leads to...

[eng] Growth : the lost secret ? Équipe MIMOSA Since 1990, growth in the industrial countries has become again insufficient to prevent a further rise in unemployment. The announced recovery has been quite weak in 1992, except in the United States. Will it happen in 1993 and 1994 ? The dollar's...

[fre] Les finances publiques font partie des critères retenus par les signataires du Traité de Maastricht pour apprécier l'état de convergence des économies et leur capacité à adopter la monnaie commune européenne dont l'entrée en vigueur est prévue pour 1999. Pour les membres de la...

[eng] Labour Markets in Europe Are European labour markets converging? A number of long-run national labour market trends are very similar: high levels of unemployment since the first oil schock; a steady increase of the number of women and white collar-workers engaged in the labour force; a...