The new EU Macroeconomic Imbalances Procedure and its Relevance for the Candidate Countries
AbstractThe paper presents the main features of the new macroeconomic imbalances procedure (MIP) as well as the MIP scoreboard for the surveillance of macroeconomic imbalances. The main issues under review are the relevance to use the MIP scoreboard as a tool to assess the vulnerabilities and imbalances of the EU candidate countries and whether it is suitable for the candidate countries to use the scoreboard as an early warning tool and a benchmarking tool for the economic policy design. The analysis of the imbalances in the Western Balkan countries suggests that they are not linked to the crisis but more to the restructuring of the economy and the caching-up process. The relative resilience of the crisis proves the flexibility and capabilities for adjustment of those economies.
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Bibliographic InfoArticle provided by Central bank of Montenegro in its journal Journal of Central banking Theory and Practice.
Volume (Year): 1 (2013)
Issue (Month): 3 ()
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More information through EDIRC
Macroeconomic imbalances procedure; scoreboard; imbalances; the Western Balkan countries;
Find related papers by JEL classification:
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
- E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
- H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
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