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The Brussels-Frankfurt-Washington Consensus. Old and New Tradeoffs in Economics

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  • Jean-Paul Fitoussi

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

  • Francesco Saraceno

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

The application of the policies prescribed by the Washington Consensus in developing countries is the subject of a vast literature. What is much less known is that there exist only one pure laboratory experiment implementing the Washington Consensus in the western world: Europe. The aim of this paper is to show that Europe has gone very far in the internalisation of the Washington Consensus; in fact, it has devised constitutionally a form of government that has no choice but to implement it. What appears then clearly is that this attempt was not a success story (...).

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  • Jean-Paul Fitoussi & Francesco Saraceno, 2004. "The Brussels-Frankfurt-Washington Consensus. Old and New Tradeoffs in Economics," SciencePo Working papers Main hal-01065485, HAL.
    • Handle: RePEc:hal:spmain:hal-01065485
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-01065485
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. (Bad) Arguments Against Debt Monetization
      by Francesco Saraceno in Sparse Thoughts of a Gloomy European Economist on 2011-11-21 19:49:14
    2. The “Golden” Rule. Really? Golden?
      by Francesco Saraceno in Sparse Thoughts of a Gloomy European Economist on 2012-01-27 14:45:04
    3. The “Golden” Rule. Really? Golden?
      by Francesco Saraceno in Sparse Thoughts of a Gloomy European Economist on 2012-01-27 14:45:04

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    10. Rosaria Rita Canale, 2010. "Central Bank Reaction To Public Deficit And Sound Public Finance The Case Of The European Monetary Union," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 1(1), pages 4-17.
    11. Jean-Claude Barbier & Arnaud Lechevalier, 2015. "La crise de la zone Euro : quels enseignements pour l’Europe sociale ?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01254229, HAL.
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    14. Olfa Alouini, 2009. "Country size, economic performance and the political economy of the euro zone : an empirical study of the size divide," Documents de Travail de l'OFCE 2007-01, Observatoire Francais des Conjonctures Economiques (OFCE).

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    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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