French Economy

Jacques Melitz and Charles Wyplosz

• PREFACE -- INTRODUCTION -- lnflatlon, employment and External constraints : An overview of the French economy during the seventies -- The real wage and employment -- Profltability, employment and structural adjustment in France -- Anticipations, recessions and policy; an intertemporal disequilibrium model -- The Franc and the French financial sector -- On the Franc -- Capital controls : some principles and the French experience -- The effects of economic structure and policy choices on macroeconomic outcomes in ten industrial countries -- Fiscal and monetary policies under a flexible exchance-ratesystem -- ROUNDTABLE DISCUSSION -- APPENDIX -- The French financial system: mechanisms and questions of reform.