Natixis - It is easy to grow by mortgaging the future

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Natixis

Patrick Artus

It is easy to grow by mortgaging the future

There is cause for concern that many OECD countries today have opted to stimulate their growth by mortgaging the future. This is the case if: Consumption is stimulated by faster growth in real wages than in prod uctivity , eroding profitability and competitiveness . This can be observed in all euro-zone countries, Japan and the United Kingdom; Governments are running fiscal deficit s to stimulate consumption and not investment, which will therefore not generate the additional income in the future to restore fiscal solvency. This can be observed in the United States, France, Italy and Japan.

09/07/2019 6 EN

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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.

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Analysts

Patrick Artus

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It is easy to grow by mortgaging the future

Section 899: A tool to increase revenue or to change foreign tax policy?

ECB Takes Summer Pause to Preserve Monetary Policy Flexibility

La BCE en pause estivale afin de garder « l’optionalité » de sa politique

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