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Coordination in the European Union

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  • Feldstein, Martin

Abstract

This paper examines the sources of current conflict within the EU and the EMU. The topics discussed include the recent ECB policy of bond buying (the OMT policy), the attempts to advance the "European Project" of stronger political union (the fiscal compact, the banking union, and the proposals for budget supervision). Contrary to the claims of the European leadership, the progress that has been made has been by individual countries and not by coordinated action. The special problems of France and Britain are also discussed.
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Suggested Citation

  • Feldstein, Martin, 2013. "Coordination in the European Union," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 434-439.
    • Handle: RePEc:eee:jpolmo:v:35:y:2013:i:3:p:434-439
    DOI: 10.1016/j.jpolmod.2013.03.007
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    References listed on IDEAS

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    1. Martin Feldstein, 1997. "The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 23-42, Fall.
    2. Feldstein, Martin, 2005. "The euro and the stability pact," Journal of Policy Modeling, Elsevier, vol. 27(4), pages 421-426, June.
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    Cited by:

    1. Nauro F. Campos & Jarko Fidrmuc & Iikka Korhonen, 2017. "Business Cycle Synchronisation in a Currency Union: Taking Stock of the Evidence," GRU Working Paper Series GRU_2017_017, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    2. Chortareas, Georgios & Mavrodimitrakis, Christos, 2016. "Can monetary policy fully stabilize pure demand shocks in a monetary union with a fiscal leader?," Economic Modelling, Elsevier, vol. 54(C), pages 463-468.
    3. Chortareas, Georgios & Mavrodimitrakis, Christos, 2017. "Strategic fiscal policies and leadership in a monetary union," European Journal of Political Economy, Elsevier, vol. 47(C), pages 133-147.
    4. Radu SIMANDAN, 2020. "A gentle sceptic: Martin Feldstein and the euro," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 11, pages 378-395, December.
    5. Szakolczai, György, 2020. "Az euró reformja - a keynesi szellemű megoldás [Reform of the euro: the Keynesian solution]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 911-929.
    6. Andreozzi, Luciano & Tamborini, Roberto, 2019. "Models of supranational policymaking and the reform of the EMU," Journal of Policy Modeling, Elsevier, vol. 41(5), pages 819-844.
    7. repec:zbw:bofrdp:2017_028 is not listed on IDEAS
    8. Campos, Nauro F. & Jarko, Fidrmuc & Iikka, Korhonen, 2017. "Business cycle synchronisation in a currency union: Taking stock of the evidence," Bank of Finland Research Discussion Papers 28/2017, Bank of Finland.
    9. Demopoulos, George D. & Yannacopoulos, Nicholas A., 2016. "Why macroeconomic coordination may not be possible in a monetary union: A game theoretic approach," The Journal of Economic Asymmetries, Elsevier, vol. 13(C), pages 69-73.
    10. Neil Warren, 2013. "National fiscal consolidation and the challenge to Australian federalism," The Economic and Labour Relations Review, , vol. 24(2), pages 161-180, June.

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    More about this item

    Keywords

    European Union; Coordination of policies; European central bank; Outright monetary transactions programme; Eurozone crisis; Euro devaluation;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy

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