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Challenges for Economic Policy Coordination within European Monetary Union (Hardcover, 2001 ed.)
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Challenges for Economic Policy Coordination within European Monetary Union (Hardcover, 2001 ed.)
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The launch of European Monetary Union (EMU) marked the beginning of
a new era, and its establishment has proved an impressive success
at the technical, legal, and procedural level. After all, EMU has
accelerated economic and political integration in the European
Union and tied the economies of the Member States closer together.
However, the performance of the euro, high unemployment rates,
uneven output and investment growth, and the issue of structural
reforms that have yet to be tackled have raised questions about the
performance of EMU in practice. There is a general consensus on the
justification for economic policy coordination. The existing
literature on economic policy coordination, however, seems far from
able to provide robust conclusions about how to organize the
necessary interaction of institutions and policies. Therefore,
there seems to be a case for re-examining the subject under the new
framework set by EMU. The objective of such a reassessment is to
enhance the understanding of what type of coordination and what
institutional setting for policy coordination can be expected to be
most favorable. Challenges for Economic Policy Coordination within
European Monetary Union provides an intellectually stimulating
contribution to the ongoing debate.
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