How has the macro-economic imbalances procedure worked in practice to improve the resilience of the euro area?
Studija
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.
Studija
Vanjski autor
Agnès BÉNASSY-QUÉRÉ, Guntram WOLFF
Informacije o dokumentu
Vrsta publikacije
Područje politike
Ključna riječ
- deflacija
- dokumentacija
- EKONOMIJA
- ekonomska analiza
- Ekonomska i monetarna unija
- ekonomska politika
- europodručje
- EUROPSKA UNIJA
- FINANCIJE
- financijska stabilnost
- financijski rizik
- institucije EU-a i europska javna služba
- izgrađivanje Europe
- izvješće o rezultatima istraživanja
- makroekonomija
- monetarna ekonomija
- monetarni odnosi
- OBRAZOVANJE I KOMUNIKACIJE
- odbor Europskoga parlamenta
- politika EU-a - nacionalna politika
- slobodno kretanje kapitala