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Institut für Weltwirtschaft (IfW), Kiel >
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http://hdl.handle.net/10419/3024
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| Title: | | Macroeconomic policy coordination in Europe: An agnostic view  |
| 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 |
| JEL: | | E61 F42 E62 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Economists Online Kieler Arbeitspapiere, IfW
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| kap1174.pdf | | 248.1 kB | Adobe PDF |
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