How has the macro-economic imbalances procedure worked in practice to improve the resilience of the euro area?
Studie
11-03-2020
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.
Studie
Extern avdelning
Agnès BÉNASSY-QUÉRÉ, Guntram WOLFF
Om detta dokument
Publikationstyp
Politikområde
Sökord
- deflation
- dokumentation
- EKONOMI
- ekonomisk analys
- ekonomisk politik
- Ekonomiska och monetära unionen
- EU-institutionerna och EU:s förvaltning
- EU-politik–nationell politik
- euroområdet
- Europaparlamentskommitté
- europeisk integration
- EUROPEISKA UNIONEN
- FINANSER
- finansiell risk
- finansiell stabilitet
- forskningsrapport
- fri rörlighet för kapital
- makroekonomi
- monetära förhållanden
- penningväsen
- UTBILDNING OCH KOMMUNIKATION