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Two possible economic regimes in the United States, the euro zone and the United Kingdom
The choice between these two economic regimes depends on productivity gains. If productivity gains are high (as in the United States), core inflation is low at equilibrium and real growth is high; if productivity gains are low (as in the euro zone and the United Kingdom), core inflation is high at equilibrium and real growth is low. There is therefore only a choice between a non-inflationary growth regime and a stagflation regime.
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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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