Report
The key question for forecasters: Will overheating policies be effective in the longer run?
Overheating policy consists in continuing to conduct an expansionary fiscal and monetary policy even though the economy has returned to full employment. If this policy is successful, it drives up the employment rate linked to a rise in the participation rate, and also productivity gains, since companies have to attract new people to the labour market and become more efficient to produce more. Overheating policies are currently being conducted in all OECD countries and in China. If they succeed, 2020 growth will be markedly stronger than expected.
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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.
Patrick Artus
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