Beyond hysteresis: resilience in Europe’s labour market
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, financial stability, public finances and debt, growth, investment and productivity
CL · Christine Lagarde Wiki · European Central Bank WikiBeyond hysteresis: resilience in Europe’s labour marketContextOpening panel remarks by Christine Lagarde at the Federal Reserve Bank of Kansas City's Jackson Hole symposium on labour market transitions.
Why it mattersLagarde examines why euro area employment held up during the rate hikes and what that implies for weak productivity.
Problems raised- This tightening cycle behaved unlike past ones.
- Europe's productivity is weak.
- An ageing population slows productivity.
Solutions proposed- Understand why Europe's labour market stayed resilient.
- Encourage labour reallocation to boost productivity.
- Design fiscal support carefully.
Read full speech on ecb.europa.eu ↗More from Christine Lagarde · European Central Bank · all speeches
More speeches by Christine Lagarde
Other leaders on monetary policy and interest rates
