The Euro Area in Search of Coordination (notice n° 156191)
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|---|---|
| fixed length control field | 01451cam a2200157 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112031613.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Benassy-Quéré, Agnès |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | The Euro Area in Search of Coordination |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2017.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 15 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The Eurozone crisis has revealed three major design errors: (1) a monetary union without a banking union, (2) an inconsistency between three prohibitions, namely monetization of public debts, bail-out of a Member state by its partners, and sovereign default, and (3) the virtual absence of coordination of macroeconomic policies. Although the first two errors are being corrected, the third – the purpose of this article – is resistant to reforms because it concerns the sovereignty of the Member states. The coordination of fiscal policies could in fact prove more difficult than the introduction of a common budget based on automatic stabilizers to mitigate business cycles. As for the coordination of other macroeconomic policies, the existing schemes (macroeconomic imbalances procedure, Europe 2020 integrated guidelines) would benefit from being refocussed each on a specific objective, and assessed according to an appropriate timetable.JEL Codes: F45. |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie financière | 125 | 1 | 2017-04-01 | p. 209-224 | 0987-3368 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-d-economie-financiere-2017-1-page-209?lang=en">https://shs.cairn.info/journal-revue-d-economie-financiere-2017-1-page-209?lang=en</a> |
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