That supposes both an improvement in trend productivity and a higher mobilization of labor (lower structural unemployment and higher participation ratio).
That can only come as a result of reform targeting both the inefficiencies of the labor market (on the demand side, the supply side and price determination) and the burden of regulation in the goods market.
For more information download the slides of the presentation(format Acrobat : 1007.1 ko)
Philippe d'Arvisenet and Antoine Sire
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