How has the macro-economic imbalances procedure worked in practice to improve the resilience of the euro area?
This paper shows how the Macroeconomic Imbalances Procedure (MIP) could be streamlined and its underlying conceptual framework clarified. Implementation of the country-specific recommendations is low; their internal consistency is sometimes missing; despite past reforms, the MIP remains largely a country-by-country approach running the risk of aggravating the deflationary bias in the euro area. We recommend to streamline the scoreboard around a few meaningful indicators, involve national macro-prudential and productivity councils, better connect the various recommendations, simplify the language and further involve the Commission into national policy discussions.
Uuring
Parlamendiväline autor
Agnès BÉNASSY-QUÉRÉ, Guntram WOLFF
Dokumendi info
Väljaande liik
Poliitikavaldkond
Märksõna
- deflatsioon
- dokumentatsioon
- ELi institutsioonid ja Euroopa avalik teenistus
- euroala
- Euroopa ehitamine
- EUROOPA LIIT
- Euroopa Parlamendi komisjon
- finantsrisk
- finantsstabiilsus
- HARIDUS JA KOMMUNIKATSIOON
- kapitali vaba liikumine
- liidu poliitika - riigi poliitika
- MAJANDUS
- majandus- ja rahaliit
- majandusanalüüs
- majanduspoliitika
- makromajandusteadus
- rahalised suhted
- RAHANDUS
- rahapoliitika
- uurimisaruanne