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Macroeconomic co-ordination as an economic policy concept: opportunities and obstacles in the EMU
[working paper]
Corporate Editor
Wirtschafts- und Sozialwissenschaftliches Institut in der Hans-Böckler-Stiftung
Abstract "This paper traces the euro zone's inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a 'new monetarist' approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and employment... view more
"This paper traces the euro zone's inadequate macroeconomic performance in recent years back to the predominance of a restrictive macroeconomic policy mix based on a 'new monetarist' approach to economic policy. An approach based on a (post-)Keynesian analysis is presented as a growth and employment-oriented alternative to this restrictive policy mix. Contrary to the strict assignment of macroeconomic goals to the macroeconomic policy actors and their instruments in the 'new monetarist' approach, the alternative requires the co-ordination of monetary, fiscal and wage policies in order to achieve growth, high employment and price stability. The paper examines the opportunities for and the obstacles to macroeconomic co-ordination given by the institutional framework of the European Monetary Union." (author's abstract)... view less
Keywords
EU; labor market policy; monetary policy; fiscal policy; macroeconomics; economic growth; monetarism; wage policy; coordination; Keynesianism; Keynes, J.; economic policy; economy; EEMU
Classification
European Politics
Economic Policy
Document language
English
Publication Year
2004
City
Düsseldorf
Page/Pages
37 p.
Series
WSI-Diskussionspapier, 125
Licence
Deposit Licence - No Redistribution, No Modifications
Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne