This volume brings together the proceedings of a conference held at the Institut Europeen d' Administration des Affaires (INSEAD) at Fontainebleau on July 5, 6, and 7, 1982. Summer conferences abound in the Paris region. That it was possible to attract an imposing international cast of economists within walking distance of the historic castle of Fontainebleau and one hour away from central Paris by car during the month of July is nothing especially surprising. But in this case there was a particular motivation for choosing the French site.
PREFACE -- INTRODUCTION -- lnlatlon, employment and Qternal constraints : An overview of the ff'ench economy durln1 the seventies -- The real wa1e pp and employment -- Profltability, employment and structural adjustment in France -- Anticipations, recessions and policy; an intertemporal disequilibrium model -- The Franc and the French financial sector -- On the Franc -- Capital controls : some principles and the French experience -- The effects of economic structure and policy choices on macroeconomic outcomes in ten industrial countries -- Fiscal and monetary policies under a flexible exchance-ratesystem -- ROUNDTABLE DISCUSSION -- APPENDIX -- The French financial system: mechanisms and questions of reform.