Economic Policy Coordination In The Euro Area Under The European Semester

Author : Daniel Gros,Cinzia Alcidi
Publisher : Unknown
Page : 0 pages
File Size : 49,8 Mb
Release : 2015
Category : European Union countries
ISBN : OCLC:1306239842

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Economic Policy Coordination in the Euro Area Under the European Semester by Daniel Gros,Cinzia Alcidi Pdf

The implementation record of the Country Specific Recommendations (CSRs) has declined over time, as financial turbulence lessened and the economic outlook started to improve. Urgency for reforms seemingly receded to leave room to request member states to move towards more accommodative stances. It is mainly the small countries that implement, at least partially, the recommendations addressed to them. Unfortunately, there is little that the EU can do to change the status quo. Yet, the President of the Eurogroup could be held accountable for the implementation of the recommendations addressed to the euro area. The creation of National Competitiveness Boards risks making the European Semester even more complex and likely to have little impact in the countries that need them most, namely large countries and those with poor governance. To make it effective, a procedure would be needed to make national wage norms consistent at the euro-area level, which may be a very difficult objective to achieve.

Author : C. Meyer,I. Linsenmann,W. Wessels
Publisher : Springer
Page : 267 pages
File Size : 44,7 Mb
Release : 2007-01-05
Category : Political Science
ISBN : 9780230625723

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Economic Government of the EU by C. Meyer,I. Linsenmann,W. Wessels Pdf

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 : Jonathan Zeitlin,Amy C Verdun
Publisher : Routledge
Page : 156 pages
File Size : 50,6 Mb
Release : 2019-12-01
Category : Political Science
ISBN : 9781351025607

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EU Socio-Economic Governance since the Crisis by Jonathan Zeitlin,Amy C Verdun Pdf

This book is the first to be dedicated entirely to the European Semester -- a new framework for policy coordination across European Union (EU) member states. The Semester represents a major advancement in EU governance. Created in 2010 in the wake of the financial and sovereign debt crises and revamped in 2015, it was intended to provide a new socio-economic governance architecture to coordinate national policies without transferring legal sovereignty to EU level. The papers in this collection are written by authors who have already contributed to this literature and have conducted original research for their studies. The book offers an empirical and theoretical assessment of the European Semester, examining its implications along three critical axes, running respectively between the economic and the social, the supranational and the intergovernmental, and the technocratic and democratic poles of EU governance. The book concludes that the European Semester challenges established theoretical understandings of EU governance, as it is a prime example of the complexity that supersedes simple polar oppositions. The chapters were originally published in a special issue of the Journal of European Public Policy.

Author : Armin Steinbach
Publisher : Routledge
Page : 238 pages
File Size : 55,9 Mb
Release : 2014-05-09
Category : Business & Economics
ISBN : 9781317689614

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Economic Policy Coordination in the Euro Area by Armin Steinbach Pdf

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.

Author : Mario Munta
Publisher : Routledge
Page : 230 pages
File Size : 51,8 Mb
Release : 2021-04-20
Category : Political Science
ISBN : 9781000380569

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EU Socio-Economic Governance in Central and Eastern Europe by Mario Munta Pdf

This book investigates to what extent and how the European Semester impacts on national employment policy in four EU member states of the Central and Eastern European (CEE) region. Using an original theoretical and methodological framework, and based on empirical evidence from extensive interviews with experts in the field, this book examines the relation between EU preferences, exemplified by the yearly list of country-specific recommendations, and national policy responses to EU suggestions, tracing the extent to which policy change can be attributed to the influence of the European Semester. It extracts three potential mechanisms of European Semester influence on policy change: External pressure, mutual learning and creative appropriation and identifies key contributing and inhibiting factors. The book provides several policy recommendations regarding the organisation and workings of the European Semester process. This text will be of key interest to students, academics and practitioners in European and EU politics, EU socio-economic governance, EU social policy, European integration, soft Europeanization and the Europeanization of Central and Eastern Europe.

Author : Eckhard Hein
Publisher : Unknown
Page : 344 pages
File Size : 47,7 Mb
Release : 2005
Category : Labor unions
ISBN : CORNELL:31924100350846

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Macroeconomic Policy Coordination in Europe and the Role of the Trade Unions by Eckhard Hein Pdf

Author : David Natali (OSE),Bart Vanhercke (OSE)
Publisher : ETUI
Page : 298 pages
File Size : 55,8 Mb
Release : 2015-09-23
Category : European Union countries
ISBN : 9782874523748

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Social policy in the European Union: state of play 2015 by David Natali (OSE),Bart Vanhercke (OSE) Pdf

The sixteenth edition of Social policy in the European Union: state of play has a triple ambition. First, it provides easily accessible information to a wide audience about recent developments in both EU and domestic social policymaking. Second, the volume provides a more analytical reading, embedding the key developments of the year 2014 in the most recent academic discourses. Third, the forward-looking perspective of the book aims to provide stakeholders and policymakers with specific tools that allow them to discern new opportunities to influence policymaking. In this 2015 edition of Social policy in the European Union: state of play, the authors tackle the topics of the state of EU politics after the parliamentary elections, the socialisation of the European Semester, methods of political protest, the Juncker investment plan, the EU’s contradictory education investment, the EU’s contested influence on national healthcare reforms, and the neoliberal Trojan Horse of the Transatlantic Trade and Investment Partnership (TTIP).

Author : Klaus Weyerstrass
Publisher : Unknown
Page : 332 pages
File Size : 51,5 Mb
Release : 2006
Category : European Union countries
ISBN : IND:30000116373709

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Economic Spillover and Policy Coordination in the Euro Area by Klaus Weyerstrass Pdf

Recoge: Executive symmary. 1. A working definition of spillover. - Part 1: Theory. - 2. A working definition of spillover. - Part 2: Empirical findings. - 3. Budgetary spillover and short-term interest rates. - 4. Budgetary spillover and long-term interest rates. - 5. Budgetary stabilisation and the level of public debt. - 6. Spillover form economic reform. - 7. Macroeconomic and welfare effects of structural and budgetary policies: spillover in the MSG3 model. - Part 3: conclusions. - 8. Summary, recommendations and future research. - Appendix. - References.

Author : Anonim
Publisher : Academia Press
Page : 67 pages
File Size : 46,6 Mb
Release : 2024-07-02
Category : Electronic
ISBN : 9789038218021

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The Reform of European Economic Governance: Towards a Sustainable Monetary Union? (Egmont Papers 47) by Anonim Pdf

Author : Sara Buckow
Publisher : GRIN Verlag
Page : 20 pages
File Size : 40,8 Mb
Release : 2011-08-15
Category : Political Science
ISBN : 9783640983704

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The European Union's Structures and Procedures for Macroeconomic Policy Coordination - Do They Amount to a Form of "Economic Government"? by Sara Buckow Pdf

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 : Angana Banerji,Ms. Bergljot Barkbu,James John,Mr. Tidiane Kinda,Mr. Sergejs Saksonovs,Hanni Schoelermann,Mr. Tao Wu
Publisher : International Monetary Fund
Page : 41 pages
File Size : 46,8 Mb
Release : 2015-09-11
Category : Business & Economics
ISBN : 9781513537658

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Building a Better Union by Angana Banerji,Ms. Bergljot Barkbu,James John,Mr. Tidiane Kinda,Mr. Sergejs Saksonovs,Hanni Schoelermann,Mr. Tao Wu Pdf

The momentum for structural reforms is waning in the euro area at a time when even faster progress is needed to boost productivity and growth, achieve real economic convergence, and improve the resilience of the monetary union. What can the European Union (EU) institutions do to bridge this divide? This paper argues for greater simplicity, transparency and accountability in the EU governance framework for structural reforms. Our three interrelated proposals-'outcome-based' benchmarking; better use of existing EU processes to strengthen oversight and reduce discretion; and improved financial incentives-could help advance reforms. Ex post monitoring by an independent EU-level 'structural council' and ex ante policy innovation by national productivity councils could strengthen accountability and ownership. Deeper governance reforms should be considered in the medium-term with a view toward a greater EU role in promoting convergence.

Author : Helen S. Wallace,Mark A. Pollack,Alasdair R. Young
Publisher : Oxford University Press, USA
Page : 641 pages
File Size : 40,5 Mb
Release : 2010
Category : Political Science
ISBN : 9780199544820

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Policy-making in the European Union by Helen S. Wallace,Mark A. Pollack,Alasdair R. Young Pdf

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.

Author : Wim Meeusen
Publisher : Edward Elgar Publishing
Page : 280 pages
File Size : 52,8 Mb
Release : 1999-01-01
Category : Political Science
ISBN : 1782542337

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Economic Policy in the European Union by Wim Meeusen Pdf

'This book is a very good consideration of the uncertainties and difficulties involved in the intervention of EU institutions in Europe.' - Dominique Redor, ECSA Review Economic Policy in the European Union analyses the key issues confronting Europe as we enter the 21st century. It focuses mainly on the transition problems linked with the creation of European Monetary Union as well as more specific issues such as social, labour, environmental and science and technology policy.

Author : European Commission. Group of Economic Analysis. Meeting
Publisher : Unknown
Page : 262 pages
File Size : 47,8 Mb
Release : 2003
Category : Business & Economics
ISBN : STANFORD:36105113925494

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Economic Policy-making in the European Union by European Commission. Group of Economic Analysis. Meeting Pdf

This publication contains the proceedings of the first four meeting of the European Commission's Group of Economic Analysis, held between December 2001 and January 2003. This Group includes 25 of the top EU and non-EU economists, which are brought together three to four times a year to discuss key economic issues in Europe. The discussions relate to: policies to raise EU growth potential; economic policy co-ordination and fiscal discipline; industrial policy in an enlarged Europe; and corporate governance.

Author : Paul Dermine
Publisher : Cambridge University Press
Page : 425 pages
File Size : 44,5 Mb
Release : 2022-07-28
Category : Law
ISBN : 9781009216616

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The New Economic Governance of the Eurozone by Paul Dermine Pdf

An in-depth study of the Eurozone's economic governance and its constitutional foundations.