The European Unions Structures And Procedures For Macroeconomic Policy Coordination Do They Amount To A Form Of Economic Government PDF Download
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Author | : Sara Buckow |
Publisher | : GRIN Verlag |
Total Pages | : 45 |
Release | : 2011 |
Genre | : Political Science |
ISBN | : 3640983823 |
Download The European Union's Structures and Procedures for Macroeconomic Policy Coordination - Do They Amount to a Form of "Economic Government"? Book in PDF, ePub and Kindle
Essay aus dem Jahr 2010 im Fachbereich Politik - Internationale 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. [...]
Author | : C. Meyer |
Publisher | : Springer |
Total Pages | : 285 |
Release | : 2007-01-05 |
Genre | : Political Science |
ISBN | : 023062572X |
Download Economic Government of the EU Book in PDF, ePub and Kindle
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.
Author | : Theresa Petra Hauck |
Publisher | : GRIN Verlag |
Total Pages | : 72 |
Release | : 2016-09-14 |
Genre | : Business & Economics |
ISBN | : 3668298351 |
Download Macroeconomic Policy Coordination in EMU Book in PDF, ePub and Kindle
Bachelor Thesis from the year 2016 in the subject Economics - Macro-economics, general, grade: 1,0, University of Bamberg, language: English, abstract: The financial crisis and the subsequent European sovereign debt crisis have highlighted the high degree of interdependence among EMU member states. The crisis period made much more clear that a macroeconomic policy coordination framework is indispensable as there is great sensibility and high risk for contagion effects. The structure of EMU in its highest level of integration as of one monetary authority vis-à-vis many fiscal authorities brings about several specific aspects regarding coordination. In order to achieve and ensure economic stability in such a unique constellation there have been established several measures and frameworks with the Stability and Growth Pact as the centre point. Designed on the grounds of and motivated by the objective of stabilising the overall economy, the pact promotes fiscal discipline through limiting government deficits and debts in order to prevent adverse fiscal spillover effects and freeriding behaviour of national fiscal authorities which could risk price and overall macroeconomic stability of the common currency area. This however brings about limitations for governments to discretionarily react to national economic needs and conditions. This bachelor thesis addresses the resulting tension between a theoretical and fundamental need for macroeconomic policy coordination in a monetary union environment and the politico-economic reality. The main goals are: to examine the main arguments in favour and against the pact under the areas of content, objectives and enforcement design; to highlight the resulting trade-offs; and to link these to developments and reforms of the pact but also to different economic contexts, namely the time period before and the time period during and after the crisis. The main finding is that reforms regarding macroeconomic policy coordination which were introduced after the beginning of the crisis period do not represent a rearrangement of the SGP framework and rather address the same debate on economic trade-offs only with a changed set of conditions. The reforms regarding the pact can be described as developments refocusing on the core of the pact while still shifting it in the directions of some propositions along with criticism which had been expressed long before the crisis period.
Author | : Joachim Scheide |
Publisher | : |
Total Pages | : 44 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Macroeconomic Policy Coordination in Europe Book in PDF, ePub and Kindle
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 1998-03-01 |
Genre | : Business & Economics |
ISBN | : 1451844239 |
Download Coordination of Monetary and Fiscal Policies Book in PDF, ePub and Kindle
Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.
Author | : Michael Emerson |
Publisher | : |
Total Pages | : 356 |
Release | : 1992 |
Genre | : Business & Economics |
ISBN | : 9780198773245 |
Download One Market, One Money Book in PDF, ePub and Kindle
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
Author | : |
Publisher | : |
Total Pages | : 300 |
Release | : 2003 |
Genre | : Computer network resources |
ISBN | : |
Download The World Bank Research Observer Book in PDF, ePub and Kindle
Author | : Helen Wallace |
Publisher | : Oxford University Press, USA |
Total Pages | : 613 |
Release | : 2015 |
Genre | : Political Science |
ISBN | : 0199689679 |
Download Policy-making in the European Union Book in PDF, ePub and Kindle
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.
Author | : Horst Siebert |
Publisher | : Springer Science & Business Media |
Total Pages | : 364 |
Release | : 2004-08-02 |
Genre | : Business & Economics |
ISBN | : 9783540219170 |
Download Macroeconomic Policies in the World Economy Book in PDF, ePub and Kindle
The integration of goods and financial markets has progressed on a global scale in recent years. Thus, the cyclical patterns in the world economy may have changed too. Against this background, experts in international economics analyze the synchronization of business cycles and their volatility in this book. Is there an European business cycle? What is the role of multinational corporations and monetary policy in transmitting business cycles? Further, they discuss the need and feasibility of internationally coordinating monetary and exchange rate policies and the quantitative effects of tax competition.
Author | : National Intelligence Council |
Publisher | : Cosimo Reports |
Total Pages | : 158 |
Release | : 2021-03 |
Genre | : |
ISBN | : 9781646794973 |
Download Global Trends 2040 Book in PDF, ePub and Kindle
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.