LEADER 03678oam 2200589I 450 001 9910464315103321 005 20170821193547.0 010 $a1-315-77615-4 010 $a1-317-68962-3 024 7 $a10.4324/9781315776156 035 $a(CKB)3710000000111688 035 $a(EBL)1687398 035 $a(SSID)ssj0001193909 035 $a(PQKBManifestationID)11673411 035 $a(PQKBTitleCode)TC0001193909 035 $a(PQKBWorkID)11146747 035 $a(PQKB)11054323 035 $a(OCoLC)880410868 035 $a(MiAaPQ)EBC1687398 035 $a(OCoLC)897457042 035 $a(EXLCZ)993710000000111688 100 $a20180706d2014 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aEconomic policy coordination in the Euro area /$fArmin Steinbach 210 1$aNew York :$cRoutledge,$d2014. 215 $a1 online resource (213 p.) 225 1 $aRoutledge Studies in the European Economy ;$v31 300 $aDescription based upon print version of record. 311 $a1-138-02397-3 320 $aIncludes bibliographical references and index. 327 $aCover; Half Title; Title Page; Copyright Page; Table of Contents; List of figures; List of tables; 1. Introduction; 1.1 Basic criticisms of economic policy coordination; 1.2 State of the research; 1.3 This study's approach; 2. Asymmetric shocks and heterogeneity following the creation of the EMU; 2.1 Theoretical studies on business cycle convergence in the EMU; 2.2 Empirical studies of economic convergence in the EMU; 2.3 Possible mechanisms to adjust for heterogeneous development within the eurozone; 3. Prerequisites for coordination and options for its design 327 $a3.1 Definition and forms of coordination: vertical and horizontal coordination3.2 Requirements for the need for coordination; 3.3 The existence of externalities as a basis for the need for coordination; 3.4 Vertical forms of coordination; 3.5 Interim findings; 4. Coordination in the EU before the government-debt crisis; 4.1 Soft coordination in the EU; 4.2 Forms of hard coordination within the EU; 4.3 Monetary policy: centralized coordination; 4.4 The failure of coordination during the financial crisis; 4.5 Interim findings; 5. The expansion of coordination in the EU 327 $a5.1 Reform of cross-border fiscal policy coordination5.2 The expansion of cross-policy coordination through macroeconomic monitoring; 5.3 Expanding wage policy coordination; 5.4 Coordinating monetary and fiscal policy; 6. Summary; Bibliography; Index 330 $aThe European debt crisis has given new impetus to the debate on economic policy coordination. In economic literature, the need for coordination has long been denied based on the view that fiscal, wage and monetary policy actors should work independently. However, the high and persistent degree of macroeconomic disparity within the EU and the absence of an optimum currency area has led to new calls for examining policy coordination.This book adopts an institutional perspective, exploring the incentives for policymakers that result from coordination mechanisms in the fields of fiscal, 410 0$aRoutledge studies in the European economy ;$v31. 606 $aEurozone 607 $aEuropean Union countries$xEconomic policy 608 $aElectronic books. 615 0$aEurozone. 676 $a339.5094 700 $aSteinbach$b Armin.$0982960 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464315103321 996 $aEconomic policy coordination in the Euro area$92243408 997 $aUNINA