Euro poster Leon Neal/Getty Images

欧元区的隐藏优势

布鲁塞尔—多年来,欧元区一直被视为灾难地区,对于货币联盟未来的讨论往往以其可能解体为中心。去年,当英国投票脱离欧盟时,部分原因就在于英国人认为欧元区是一个无法正常运转——并且可能已经无法挽回——的工程。但最近,欧元区成了金融市场的“香饽饽”,其来有自。

欧元区的隐藏优势其实早就应该被发现。事实上,欧元区从2011—2012年危机中复苏已经持续了几年。用人均值衡量,其经济增长已经超过美国。失业率也在下降——诚然比美国更慢,但这部分是因为劳动力参与率的不同导致的。

劳动力参与率在欧元区呈现上升之势,而在美国自从2000年左右以来一直在下降。美国人民远离就业市场反映了经济学家所谓的“沮丧的工人”现象。事实上,这一趋势在2009年衰退以来有所加速。

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