IDEAS home Printed from https://ideas.repec.org/a/euf/qreuro/0172-01.html
   My bibliography  Save this article

Economic Resilience in EMU

Author

Listed:
  • Gabriele Giudice
  • Jesper Hanson
  • Zenon Kontolemis

Abstract

This section discusses why convergence towards resilient economies is key for improving the functioning of the Economic and Monetary Union. Economic resilience refers to the ability of countries to withstand shocks and for GDP growth to recover quickly to potential levels. The experience of recent years has shown how the lack of resilience in one or several economies in the euro area can have significant and persistent effects not only on the countries concerned but also on other countries and the euro area as a whole, through multiple channels. This section focuses on which policies can contribute to resilience in the EMU. To do so, it develops the notion of economic resilience, provides a framework to identify key areas for resilience in a monetary union and a taxonomy of factors and policies that influence the resilience of Member States’ economies. The proposed framework is not a one-size-fits-all approach, but leaves room for country-specific policy settings and the sharing of best practices. There are notable differences in economic resilience among euro area countries and the broad taxonomy in this section could provide guidance for the prioritisation of reforms.

Suggested Citation

  • Gabriele Giudice & Jesper Hanson & Zenon Kontolemis, 2018. "Economic Resilience in EMU," Quarterly Report on the Euro Area (QREA), Directorate General Economic and Financial Affairs (DG ECFIN), European Commission, vol. 17(2), pages 9-15, July.
    • Handle: RePEc:euf:qreuro:0172-01
    as

    Download full text from publisher

    File URL: https://economy-finance.ec.europa.eu/system/files/2018-07/ip086_en_1_economic_resilience_emu.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Halmai, Péter, 2021. "Resilience in Focus. Certain Mechanisms of the Deepening of the Economic and Monetary Union," Public Finance Quarterly, Corvinus University of Budapest, vol. 66(1), pages 7-31.
    2. Jollès, Maya & Meyermans, Eric & Vašíček, Bořek, 2023. "Determinants of macroeconomic resilience in the euro area: An empirical assessment of national policy levers," Economic Systems, Elsevier, vol. 47(3).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:euf:qreuro:0172-01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ECFIN INFO (email available below). General contact details of provider: https://edirc.repec.org/data/dg2ecbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.