IDEAS home Printed from https://ideas.repec.org/a/spr/intere/v52y2017i1d10.1007_s10272-017-0643-1.html
   My bibliography  Save this article

Policy Rules in the Economic and Monetary Union

Author

Listed:
  • Bodo Herzog

    (Reutlingen University)

  • Minjae Choi

    (University of Exeter)

Abstract

This paper studies whether a monetary union can be managed solely by a rule-based approach. The Five Presidents’ Report of the European Union rejects this idea. It suggests a centralisation of powers. We analyse the philosophy of policy rules from the vantage point of the German economic school of thought. There is evidence that a monetary union consisting of sovereign states is well organised by rules, together with the principle of subsidiarity. The root cause of the euro crisis is rather the weak enforcement of rules, compounded by structural problems. Therefore, we suggest a genuine rule-based paradigm for a stable future of the Economic and Monetary Union.

Suggested Citation

  • Bodo Herzog & Minjae Choi, 2017. "Policy Rules in the Economic and Monetary Union," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 52(1), pages 51-56, January.
    • Handle: RePEc:spr:intere:v:52:y:2017:i:1:d:10.1007_s10272-017-0643-1
    DOI: 10.1007/s10272-017-0643-1
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10272-017-0643-1
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10272-017-0643-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Bodo Herzog, 2022. "Do Post-Corona European Economic Policies Lift Growth Prospects? Exploring an ML-Methodology," JRFM, MDPI, vol. 15(3), pages 1-13, March.
    2. Vlieghe, Gertjan, 2022. "Demographics and other constraints on future monetary policy," The Journal of the Economics of Ageing, Elsevier, vol. 23(C).
    3. Sthanu R Nair, 2021. "Agrarian suicides in India: Myth and reality," Development Policy Review, Overseas Development Institute, vol. 39(1), pages 3-21, January.
    4. Bodo Herzog, 2020. "Whither Coronabonds? The Past and Future of the EMU in the Coronavirus Pandemic," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 55(3), pages 155-159, May.
    5. Herzog Bodo, 2020. "Corona-Bonds und EU-Verschuldung: Zukunftsvision oder Europäische Naivität?," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 69(2), pages 148-165, August.

    More about this item

    Statistics

    Access and download statistics

    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:spr:intere:v:52:y:2017:i:1:d:10.1007_s10272-017-0643-1. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.