Villeroy de Galhau highlights factors behind slow growth
French governor highlights importance of wage-setting mechanisms
Several factors lay behind the decades-long slowdown in per capita growth in advanced economies, according to the governor of the Banque de France, François Villeroy de Galhau.
While the "concern over output mismeasurement" was "serious", this factor "cannot explain all of the slowdown, as it did not suddenly appear in the mid-2000s", Villeroy de Galhau told an audience in Paris in a speech today (January 16).
He said he was also "very much inclined to say" that lower growth rates were a "demand
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Economics
Policy economists outnumber research colleagues
Economics FTE staff make up 4% of central banks’ overall employees, on average
The past and future of BIS economics
Claudio Borio looks back over 37 years at the BIS and Hyun Song Shin looks to the future
Economics teams tend to be tailored by institution
But hub and spoke model is prevalent among high income respondents
Bailey: UK must stay open for business
BoE governor calls for bridges to be built with EU countries and others
US consumers predict growing pressure from inflation and debt
More respondents to NY Fed survey expect to miss payments and to face steeper price rises
Book notes: The road to freedom: economics and the good society, Joseph E Stiglitz
A stimulating amalgamation of previous ideas presenting the kind of economic system most conducive to decent society
Bofit study projects continued slowdown in China
Group’s latest forecast says economy needs to be rebalanced in favour of consumption
Global component of inflation surged in pandemic – research
Dallas Fed authors say international factors exert greater influence than they did pre-Covid