The bank for a changing world

During the last 10 years, the gap in GDP per capital between the US and Euroland has widened. To put an end to that unwelcomed development, potential growth in Euroland needs to be loosted.

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