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Title:Macroeconomic policy coordination in Europe: An agnostic view PDF Logo
Authors:Scheide, Joachim
Issue Date:2003
Series/Report no.:Kiel Working Papers 1174
Abstract:Coordination is a fundamental principle for economic policy in the EU. There is a consensus that soft coordination (exchange of information, general guidelines for economic policy) is useful. Whether stabilization policies should be coordinated is another matter. Against the background of the Broad Economic Policy Guidelines (BEPG) and the literature on macro policies it is discussed whether the conditions for such coordination are met in Europe. Commitments by policymakers are almost impossible, fiscal policies may not be effective, and negative spillovers are unlikely. Therefore, the arguments for an ex ante coordination of macro policies are weak. Nevertheless, economic policies can be successful in achieving the targets even if they are not coordinated.
Subjects:International policy coordination
Stabilization policies
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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