@techreport{Truger2004Macroeconomic,
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-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.},
author = {Achim Truger and Eckhard Hein},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E64; E65; E61; E63; 330; Macroeconomic policy co-ordination; European Monetary Union; monetary policy; fiscal policy; wages policy; Konjunkturpolitik; Internationale wirtschaftspolitische Koordination; Europ\"{a}ische Wirtschafts- und W\"{a}hrungsunion; Globalsteuerung; EU-Staaten},
language = {eng},
number = {125},
title = {Macroeconomic co-ordination as an economic policy concept : opportunities and obstacles in the EMU},
type = {WSI-Diskussionspapiere},
url = {http://hdl.handle.net/10419/21567},
year = {2004}
}
