Arbeitspapier
Macroeconomic co-ordination as an economic policy concept : opportunities and obstacles in the EMU
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 coordination 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.
- Language
-
Englisch
- Bibliographic citation
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Series: WSI-Diskussionspapier ; No. 125
- Classification
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Wirtschaft
Incomes Policy; Price Policy
Studies of Particular Policy Episodes
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- Subject
-
Macroeconomic policy co-ordination
European Monetary Union
monetary policy
fiscal policy
wages policy
Konjunkturpolitik
Internationale wirtschaftspolitische Koordination
Europäische Wirtschafts- und Währungsunion
Globalsteuerung
EU-Staaten
- Event
-
Geistige Schöpfung
- (who)
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Truger, Achim
Hein, Eckhard
- Event
-
Veröffentlichung
- (who)
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Hans-Böckler-Stiftung, Wirtschafts- und Sozialwissenschaftliches Institut (WSI)
- (where)
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Düsseldorf
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Truger, Achim
- Hein, Eckhard
- Hans-Böckler-Stiftung, Wirtschafts- und Sozialwissenschaftliches Institut (WSI)
Time of origin
- 2004
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Macroeconomic co-ordination as an economic policy concept: opportunities and obstacles in the EMU
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