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THE ASCENT OF THE EUROPEAN COMMISSION AS AN ACTOR IN THE MONETARY INTEGRATION PROCESS IN THE 1960s

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  • Ivo Maes

Abstract

This paper discusses macroeconomic and monetary policy making at the European Commission in the 1960s. The Commission, in its analysis, focused strongly on economic imbalances in the Community, as they could threaten the common market project. In order to strengthen the system of economic governance of the Community, the Commission advocated an improved monetary cooperation, in line with the internal logic of the integration process. This contrasted with the view of the central bankers, who took the international monetary system as the framework for their analysis. This paper shows the ascent of the Commission as an actor in the monetary area, notwithstanding the relatively limited provisions of the European Economic Community Treaty.

Suggested Citation

  • Ivo Maes, 2006. "THE ASCENT OF THE EUROPEAN COMMISSION AS AN ACTOR IN THE MONETARY INTEGRATION PROCESS IN THE 1960s," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(2), pages 222-241, May.
    • Handle: RePEc:bla:scotjp:v:53:y:2006:i:2:p:222-241
    DOI: 10.1111/j.1467-9485.2006.00377.x
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    Cited by:

    1. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, September.
    2. Katia Caldari, 2021. "Planning the European architecture: The contribution of Robert Marjolin," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 10(2), pages 5-29.
    3. Ivo Maes, 2009. "Economic thought at the European Commission and the creation of EMU (1957-1991)," Working Papers - Dipartimento di Economia 2, Dipartimento di Economia, Sapienza University of Rome, revised May 2009.
    4. Francisco Torres, 2007. "The long road to EMU: The Economic and Political Reasoning behind Maastricht," NIPE Working Papers 23/2007, NIPE - Universidade do Minho.
    5. Ivo Maes, 2013. "Tommaso Padoa-Schioppa: Macroeconomic and Monetary Thought, and Policy-making at the European Commission," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2013(2), pages 21-43.
    6. Ivo Maes, 2024. "Jacques Delors (1925-2023)," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2024(1), pages 123-130.
    7. Acosta, Juan & Rancan, Antonella & Sergi, Francesco, 2023. "Multi-country modelling at the commission of the European communities: Centralised and decentralised approaches," European Economic Review, Elsevier, vol. 158(C).
    8. Emmanuel Mourlon‐Druol, 2016. "Banking Union in Historical Perspective: The Initiative of the European Commission in the 1960s–1970s," Journal of Common Market Studies, Wiley Blackwell, vol. 54(4), pages 913-927, July.
    9. Acosta, Juan & Rancan, Antonella & Sergi, Francesco, 2022. "Centralised and Decentralised Approaches to Multi-Country Macroeconometric Modelling at the Commission of the European Communities: The Short-Lived EUROLINK Model," Economics & Statistics Discussion Papers esdp22081, University of Molise, Department of Economics.

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