Profitability, employment and structural adjustment in France

P.J.K. Kouri; J.B. de Macedo; A.J. Viscio; P. Krugman; J. Mairesse

doi:10.4324/9780429311055-4

Profitability, employment and structural adjustment in France

P.J.K. Kouri, J.B. de Macedo, A.J. Viscio, P. Krugman, J. Mairesse

Research output: Chapter in Book/Report/Conference proceeding › Chapter › Academic

Abstract

This chapter presents a dynamic model which explains output, employment and energy consumption in the French manufacturing sector in terms of the expected and actual path of wage rates and energy prices in units of output. The depreciation of the dollar, viewed with alarm by the European governments, helped the slowing down of inflation in Europe while it also led to a deterioration in the price and cost competitiveness and a decline in the profitability of European manufacturing. High and increasing unemployment has however contributed little to the moderation of inflation. In terms of consumer prices, inflation has remained stubbornly above 9 per cent, averaging 10 per cent for the 1973-1981 period. © 1985 Taylor and Francis. All rights reserved.

Original language	English
Title of host publication	The French Economy: Theory and Policy
Publisher	Taylor and Francis AS
Pages	85-112
Number of pages	28
ISBN (Electronic)	9780367292300
ISBN (Print)	9781000229721
DOIs	https://doi.org/10.4324/9780429311055-4
Publication status	Published - 2022

JEL classifications

o52 - Economywide Country Studies: Europe

Keywords

France
ECONOMY

Access to Document

10.4324/9780429311055-4

Cite this

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abstract = "This chapter presents a dynamic model which explains output, employment and energy consumption in the French manufacturing sector in terms of the expected and actual path of wage rates and energy prices in units of output. The depreciation of the dollar, viewed with alarm by the European governments, helped the slowing down of inflation in Europe while it also led to a deterioration in the price and cost competitiveness and a decline in the profitability of European manufacturing. High and increasing unemployment has however contributed little to the moderation of inflation. In terms of consumer prices, inflation has remained stubbornly above 9 per cent, averaging 10 per cent for the 1973-1981 period. {\textcopyright} 1985 Taylor and Francis. All rights reserved.",

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AB - This chapter presents a dynamic model which explains output, employment and energy consumption in the French manufacturing sector in terms of the expected and actual path of wage rates and energy prices in units of output. The depreciation of the dollar, viewed with alarm by the European governments, helped the slowing down of inflation in Europe while it also led to a deterioration in the price and cost competitiveness and a decline in the profitability of European manufacturing. High and increasing unemployment has however contributed little to the moderation of inflation. In terms of consumer prices, inflation has remained stubbornly above 9 per cent, averaging 10 per cent for the 1973-1981 period. © 1985 Taylor and Francis. All rights reserved.

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