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Lacking "Europeanisation" of National Business Cycles as a Risk for the Euro Area

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  • Fritz Breuss

Abstract

Ten years after the start of EMU, the global financial market crisis is putting its viability to a test. In the absence of other mechanisms to smooth such a shock, a higher degree of economic policy co-ordination and closer co-operation between the euro area member countries and the ECB is urgently recommended. These steps could promote the necessary convergence towards a "European business cycle".

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  • Fritz Breuss, 2009. "Lacking "Europeanisation" of National Business Cycles as a Risk for the Euro Area," Austrian Economic Quarterly, WIFO, vol. 14(2), pages 91-104, June.
    • Handle: RePEc:wfo:wquart:y:2009:i:2:p:91-104
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    1. Seelkopf, Laura & Yang, Hongyan, 2014. "European fiscal solidarity: An EU-wide optimal income tax approach," TranState Working Papers 185, University of Bremen, Collaborative Research Center 597: Transformations of the State.

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