Report
Patrick Artus

France and Italy: Low skills cannot be corrected by using fiscal deficits

France and Italy are chara cterised by very low labour force skills , and a comparison of OECD countries shows that low skills go hand - in - hand with a low employment rate, a high level of structural unemployment , and deindustrialisation. In these two countries, low incomes and income inequality are therefore closely associated with low skills. It is obviously possible to boost low incomes and reduce inequality by using government transfer payments, and therefore fiscal deficits. But the only sustainable way to restore incomes and reduce inequalities in the medium term is therefore to improve skills, which cannot be replaced by a permanent fiscal deficit.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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