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Competitiveness pact: flawed economies? CEPS Commentary, 18 March 2011

Gros, Daniel. (2011) Competitiveness pact: flawed economies? CEPS Commentary, 18 March 2011. [Policy Paper]

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    Abstract

    The economic philosophy behind the Competitiveness Pact now before the European Council can be summarized by two hypotheses: 1. If we fix (relative?) wages, no external imbalances can arise since relative costs determine export performance. 2. Higher productivity always means more ‘competitiveness’, and is thus always useful to reduce divergences. On first sight, this Commentary finds that both theses seem to make sense, but on closer inspection, neither corresponds to reality.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > industrial policy
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > CEPS Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 23 Mar 2011 16:37
    Number of Pages: 3
    Last Modified: 23 Mar 2011 16:37
    URI: http://aei.pitt.edu/id/eprint/30355

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