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Coordination Of Economic Policies In The Eu
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Book Synopsis Economic Policy Coordination in the Euro Area by : Armin Steinbach
Download or read book Economic Policy Coordination in the Euro Area written by Armin Steinbach and published by Routledge. This book was released on 2014-05-09 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European debt crisis has given new impetus to the debate on economic policy coordination. In economic literature, the need for coordination has long been denied based on the view that fiscal, wage and monetary policy actors should work independently. However, the high and persistent degree of macroeconomic disparity within the EU and the absence of an optimum currency area has led to new calls for examining policy coordination. This book adopts an institutional perspective, exploring the incentives for policymakers that result from coordination mechanisms in the fields of fiscal, monetary and wage policy. Based on the concept of externalities, the work examines cross-border spillovers (e.g. induced by fiscal policy) and cross-policy spillovers (e.g. between fiscal and monetary policies), illuminating how they have empirically changed over time and how they have been addressed by policymakers. Steinbach introduces a useful classification scheme that distinguishes between vertical and horizontal coordination as well as between cross-border and cross-policy coordination. The author discusses farther-reaching forms of fiscal coordination (e.g. debt limits, insolvency proceedings, Eurobonds) with special attention to how principals of state organization affect their viability. Federal states and Bundesstaaten differ in the incentives they offer for debt accumulation – and thus in their suitability for fiscal coordination. Steinbach finds that the originally strict separation between policy areas has undergone significant change during the debt crisis. Indeed, recent efforts to coordinate policy are no longer limited to one policy area, but now extend to several areas. Steinbach argues that further fiscal policy coordination can be effectively deployed to address policy externalities, but that the coordination mechanisms used must match the form of state organization in the first place. Regarding wage policies, there are significant barriers to coordination. Notwithstanding some empirical successes in the implementation of a productivity-oriented wage policy, the high heterogeneity of national wage-setting institutions is likely to prevent any wage coordination.
Book Synopsis Economic Government of the EU by : C. Meyer
Download or read book Economic Government of the EU written by C. Meyer and published by Springer. This book was released on 2007-01-05 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation of Monetary Union marked a major step in the evolution of the European Union. Is the EU now taking the next step of deeper integration towards a fully-fledged economic government? The book seeks to answer this question by studying the evolution, execution and performance of new modes of economic policy co-ordination as potential stepping-stones towards more institutionalized forms of economic governance.
Book Synopsis The European Union's Structures and Procedures for Macroeconomic Policy Coordination - Do They Amount to a Form of "Economic Government"? by : Sara Buckow
Download or read book The European Union's Structures and Procedures for Macroeconomic Policy Coordination - Do They Amount to a Form of "Economic Government"? written by Sara Buckow and published by GRIN Verlag. This book was released on 2011-08-15 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay aus dem Jahr 2010 im Fachbereich Politik - Thema: Europäische Union, University of Bath, Sprache: Deutsch, Abstract: “To become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more and better jobs and greater social cohesion” was the main objective at the Lisbon European Council meeting in 2000 (European Commission, 2002). A decade later – in March 2010 – the Commission set a new strategic goal under the name “Europe 2020”. Achieving a “new economic policy coordination process” and again “smart, sustainable and inclusive growth” are the aims of this strategy announced by the Commission in 2010 (European Commission 2010). It becomes obvious that realising these goals requires harmonious coordination of macroeconomic policies. Therefore, this essay explores the different structures and procedures in place to coordinate the macroeconomic policy in the European Union (EU). It will focus upon fiscal and monetary policy-making as well as the Broad Economic Policy Guidelines and the Stability and Growth pact against the background of current debates. Identifying gaps in the policy-making processes will be the emphasis of the first part whereas the second part will be devoted to the exploring whether a form of “Economic Government” exists. This essay argues that the discrepancy between supranational monetary policy-making and national fiscal policy-making is an obstacle to the achievement of “Economic Government”. Due to increasing interdependence in form of institutions such as the Single Market and especially the introduction of the Economic and Monetary Union (EMU), coordination has become an imperative. In the view of the European Commission (2002), coordination of economic policies is highly desirable in order to “account for direct cross-border spillover effects of national policies on neighbouring countries”. For instance, policy decisions on a national level have an impact on the inflation and exchange rates, which in turn influences the European Central Bank’s (ECB) policy decision-making. Begg et al (2003) categorise arising expenses as social costs, as established fiscal policies become destructive to previously implemented guidelines and harm the stability of the overall coordination. Thus a coherent coordination system reduces social costs. [...]
Book Synopsis International Economic Policy Coordination by : Michael Carlberg
Download or read book International Economic Policy Coordination written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2005-03-04 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the international coordination of monetary and fiscal policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary and fiscal competition between Europe and America. Similarly, as to policy cooperation, the focus is on monetary and fiscal cooperation between Europe and America. The spillover effects of monetary policy are negative while the spillover effects of fiscal policy are positive. The policy targets are price stability and full employment. The policy makers follow either cold-turkey or gradualist strategies. Policy expectations are adaptive or rational. The world economy consists of two, three or more regions. The present book is part of a larger research project on European Monetary Union, see the references at the back of the book. Some parts of this project were presented at the World Congress of the International Economic Association in Lisbon. Other parts were presented at the International Institute of Public Finance, at the Macro Study Group of the German Economic Association, at the Annual Meeting of the Austrian Economic Association, at the Gottingen Workshop on International Economics, at the Halle Workshop on Monetary Economics, at the Research Seminar on Macroeconomics in Freiburg, and at the Passau Workshop on International Economics.
Book Synopsis Coordination of Economic Policies in the EU by :
Download or read book Coordination of Economic Policies in the EU written by and published by . This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Redefining European Economic Governance by : Michele Chang
Download or read book Redefining European Economic Governance written by Michele Chang and published by Routledge. This book was released on 2016-04-14 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis and sovereign debt crisis exposed the inadequacy of European economic governance. Despite the multitude of new mechanisms and institutions that have arisen over the last few years, many contend that economic governance remains inadequate and the EU must integrate even further to calm still-volatile markets. A tension exists between creating effective instruments that will not overstep the authority delegated to an EU that has integrated economically but not politically. Can the EU’s economic governance system satisfy the demands of markets and politics? Relevant issues include the ability of supranational institutions to dictate policy to national governments, the harmonization of economic policies and institutions across Europe, and a substantial increase in the transfer of funds across borders. Can monetary union continue without political union? How will the new institutions alter the distribution of power between EU institutions as well as between member states? This edited volume analyzes the major policy challenges and institutional mechanisms at the EU- and international levels to combat the global financial crisis and the EU’s sovereign debt crisis such as financial integration, fiscal cooperation, and the rising power of the ECB. This book was published as a special issue of the Journal of European Integration.
Author :Andrew J. Hughes Hallett Publisher :Springer Science & Business Media ISBN 13 :1475747381 Total Pages :222 pages Book Rating :4.4/5 (757 download)
Book Synopsis Challenges for Economic Policy Coordination within European Monetary Union by : Andrew J. Hughes Hallett
Download or read book Challenges for Economic Policy Coordination within European Monetary Union written by Andrew J. Hughes Hallett and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The launch of European Monetary Union (EMU) marked the beginning of a new era, and its establishment has proved an impressive success at the technical, legal, and procedural level. After all, EMU has accelerated economic and political integration in the European Union and tied the economies of the Member States closer together. However, the performance of the euro, high unemployment rates, uneven output and investment growth, and the issue of structural reforms that have yet to be tackled have raised questions about the performance of EMU in practice. There is a general consensus on the justification for economic policy coordination. The existing literature on economic policy coordination, however, seems far from able to provide robust conclusions about how to organize the necessary interaction of institutions and policies. Therefore, there seems to be a case for re-examining the subject under the new framework set by EMU. The objective of such a reassessment is to enhance the understanding of what type of coordination and what institutional setting for policy coordination can be expected to be most favorable. Challenges for Economic Policy Coordination within European Monetary Union provides an intellectually stimulating contribution to the ongoing debate.
Book Synopsis Policy-making in the European Union by : Helen S. Wallace
Download or read book Policy-making in the European Union written by Helen S. Wallace and published by Oxford University Press, USA. This book was released on 2010 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: The policies of the European Union profoundly affect the lives of people in Europe and around the world. The new edition of this highly successful textbook outlines how and why such decisions are made, as well as the key challenges faced by policy-makers in the current political and economic climate. Policy-Making in the European Union begins by clarifying the institutional framework of the EU and the analytical approaches used to understand it. A wide range of crucial and illustrative policies are then explored in detail by subject experts. This volume includes new chapters on ways of analyzing the EU's policy process and on energy policy. A central theme to the volume is how the recent expansion to twenty-seven member states has affected policy-making across the different policy sectors. The conclusion reflects on how this challenge and the protracted constitutional stalemate have affected policy-making in the EU. It also explores the impact of the financial and economic crises that have struck Europe over the past several years. The sixth edition is fully up-to-date, and is the ideal text for all those with an interest in the policy-making of the European Union.
Book Synopsis Economic Policy in the European Union by : Sixten Korkman
Download or read book Economic Policy in the European Union written by Sixten Korkman and published by Springer. This book was released on 2004-11-10 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sixten Korkman gives an overview of the economic policies and the economic policy regime of the EU, including EMU and the internal market. He provides analysis of policy issues in the light of economic theory and examines critically the rationale for policy intervention at the EU level. The book also describes and explains the legal and institutional set up of the EU and illustrates issues of principle by referring to practical cases of EU deliberations.
Book Synopsis An Agenda for a Growing Europe by : André Sapir
Download or read book An Agenda for a Growing Europe written by André Sapir and published by OUP Oxford. This book was released on 2004-03-04 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade European economic integration has seen considerable institutional success, but the economic performance of the EU has been varied. While macroeconomic stability has improved and an emphasis on cohesion preserved, the EU economic system has not delivered satisfactory growth performance. This book is the report of a high-level group commissioned by the President of the European Commission to review the EU economic system and propose a blueprint for an economic system capable of delivering faster growth along with stability and cohesion. It assesses the EU s economic performance, examines the challenges facing the EU in the coming years, and presents a series of recommendations. The report views Europe's unsatisfactory growth performance during the last decades as a symptom of its failure to transform into an innovation-based economy. It has now become clear that the context in which economic policies have been developed has changed fundamentally over the past thirty years. A system built around the assimilation of existing technologies, mass production generating economics of scale, and an industrial structure dominated by large firms with stable markets and long term employment patterns no longer delivers in the world of today, characterized by economic globalization and strong external competition. What is needed now is more opportunity for new entrants, greater mobility of employees within and across firms, more retraining, greater reliance on market financing, and higher investment in both R&D and higher education. This requires a massive and urgent change in economic policies in Europe.
Book Synopsis EU Fiscal Policy Coordination in Hard Times by : Charlotte Rommerskirchen
Download or read book EU Fiscal Policy Coordination in Hard Times written by Charlotte Rommerskirchen and published by Oxford University Press. This book was released on 2019-01-28 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens to European Union (EU) fiscal policy coordination in hard times? Recent accounts of the EU have portrayed the union as plagued by an austerity regime and rampant moral hazard. Charlotte Rommerskirchen provides an alternative account of economic cooperation in Europe during the Great Recession and the European Debt Crisis. Drawing on Mancur Olson's theory of collective action, this volume combines evidence from statistical analysis and extensive interviews with key players. This book reaches an unexpected conclusion regarding the state of collective action in times of crises: Free riding was not rife. Despite heated accusations, member states crisis policies matched their fiscal room for manoeuvre. The real collective action failure is instead diagnosed in the inability to sanction free riders at the EU level and empowering erratic bond markets to discipline governments.
Book Synopsis Policy Coordination in a Monetary Union by : Michael Carlberg
Download or read book Policy Coordination in a Monetary Union written by Michael Carlberg and published by Springer Science & Business Media. This book was released on 2013-06-05 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive study of the international coordination of economic policy in a monetary union. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on competition between the union central bank, the German government, and the French government. Similarly, as to policy cooperation, the focus is on cooperation between the union central bank, the German government, and the French government. The key questions are: Does the process of policy competition lead to full employment and price stability? Can these targets be achieved through policy cooperation? And is policy cooperation superior to policy competition? Another important issue is monetary competition / monetary cooperation between Europe and America.
Book Synopsis European Union Economic Diplomacy by : Stephen Woolcock
Download or read book European Union Economic Diplomacy written by Stephen Woolcock and published by Routledge. This book was released on 2016-07-22 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union is a key player in international economic relations, but its exact role and how it goes about making decisions and negotiating is often poorly understood within and especially outside the EU. When does the EU play a proactive role and when does it follow? When is the EU a distinct actor and when is it just one level in a multi- level process of negotiation in which the member states are the main actors? Does the EU possess normative power in external economic relations? Does the EU have the capability and willingness to use its still significant economic power? European Union Economic Diplomacy provides the first comprehensive analysis of the factors that determine the role of the EU in economic diplomacy. In an up-to-date treatment that includes consideration of the impact of the Treaty of Lisbon, it contains a comprehensive explanation of decision making and negotiating processes in the core areas of trade, financial market regulation, environmental diplomacy and development co-operation. The book is intended for those interested in EU policy making, but also those who simply need to understand how the EU functions in the field of economic diplomacy.
Book Synopsis Economic Governance in the EU by : Willem Molle
Download or read book Economic Governance in the EU written by Willem Molle and published by Taylor & Francis. This book was released on 2011-03 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sets out a systematisation of the theoretical and conceptual underpinnings of the financial and coordination methods used in EU Economic Governance, offering an empirical investigation into a range of European policy processes.
Book Synopsis Economic Policy for the European Community by : Alec Cairncross
Download or read book Economic Policy for the European Community written by Alec Cairncross and published by Holmes & Meier Publishers. This book was released on 1975 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on the economic policy implications of economic integration of Western European countries - covers the impact of inflation and of the energy crisis on unification of europe, integration of monetary policies and fiscal policies, strategies for regional development, common agricultural policies and industrial policies, environmental protection, trade relations, etc. Bibliography pp. 241 and 242, references and statistical tables.
Book Synopsis EU Economic Law in a Time of Crisis by : Harri Kalimo
Download or read book EU Economic Law in a Time of Crisis written by Harri Kalimo and published by Edward Elgar Publishing. This book was released on 2016-02-26 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has the EU’s economic crisis affected the development of economic law in the Union? This book contributes to the debate by examining EU economic law from a contextual and policy-oriented perspective. The expert authors explore areas such as the EMU and the internal market, and emphasize the important fields of public procurement, taxation, and intellectual property rights. The investigation proceeds along themes such as harmonization, institutional interplay, non-economic values, and international actions. The authors conclude that, during the crisis, the attention of the Barroso Commission focused quite narrowly on the most urgent problems, failing to consider longer-term issues to spark off bold policy endeavours, and break inter-institutional blockages. This book is targeted at scholars, policy-makers and other practitioners, as well as students, interested in EU economic law, integration, and the economic crisis.
Book Synopsis Political Aspects of the Economic Monetary Union by : Soren Zibrandt von Dosenrode-Lynge
Download or read book Political Aspects of the Economic Monetary Union written by Soren Zibrandt von Dosenrode-Lynge and published by Routledge. This book was released on 2018-02-06 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2002: Concentrating on the myriad political aspects of European Monetary Union (EMU), this volume places the EMU and the European Union (EU) in a global context. It should be useful for scholars and students of European studies, economics, modern history and international relations. Libraries and embassies should also find it a valuable reference tool.
