Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/155717
Authors: 
Hallwirth, Volker
Year of Publication: 
2014
Citation: 
[Journal:] Wirtschaftsdienst [ISSN:] 1613-978X [Publisher:] Springer [Place:] Heidelberg [Volume:] 94 [Year:] 2014 [Issue:] 11 [Pages:] 798-805
Abstract: 
Ziel des Europäischen Verfahrens zur Vermeidung und Korrektur makroökonomischer Ungleichgewichte ist es, gesamtwirtschaftliche Fehlentwicklungen in der EU und im Euroraum frühzeitig zu erkennen und zu korrigieren. Wie sind die bisherigen Erfahrungen mit diesem Prozess und wie kann er noch wirksamer dazu beitragen, Divergenzen bei der Wettbewerbsfähigkeit zu vermeiden und zu korrigieren?
Abstract (Translated): 
The euro crisis has revealed that major divergences in competitiveness and current account imbalances seriously affected the economic governance of EMU. In order to improve the proper functioning of EMU, the EU adopted the "Macroeconomic Imbalance Procedure" (MIP) in 2011, which presumably may contribute to improving EMU policy supervision. With respect to the surveillance of competitiveness divergences and current account imbalances, however, the MIP still suffers from severe shortcomings. In the interest of a better functioning EMU, the MIP should be extended to a comprehensive macroeconomic coordination mechanism. Including wage developments into macroeconomic coordination within the euro area could effectively contribute to preventing and correcting macroeconomic imbalances and help minimise the costs of adjustment.
JEL: 
H77
R11
R72
Persistent Identifier of the first edition: 
Document Type: 
Article

Files in This Item:
File
Size
201.96 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.