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The Young Lamfalussy: An Empirical And Policy-Oriented Growth Theorist

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Executive Summary

Alexandre Lamfalussy has been highly influential in the process of European monetary and financial unification. In this paper, the authors will analyze the work of the "Young Lamfalussy" (from the mid 1950s to the mid 1960s). Lamfalussy started his career as an academic, focusing on growth theory and Belgian and European growth patterns in the post-war period. His work is still considered to be influential in the recent literature on Europe's post-war economic growth. It fits nicely into the Keynesian tradition: Lamfalussy's analytical frameworks were often inspired by Keynesian models, in his analysis he emphasised vicious and virtuous circles in the economy and, in his policy conclusions, he was a clear partisan of more planning.

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