Market mechanisms for policy decisions: Tools for the European Union
AbstractThe thesis of this paper is that more transparent, rule-bound and subtle mechanisms for policy coordination will be needed to ensure the success of an enlarged European Union. A common policy is a public good with distributional implications. Economists have developed a large number of plausible market mechanisms for the efficient provision of public goods, and the European Union, with its limited number of members and relative ease of information is a promising ground for such schemes. An important open area of applied research is thus the tailoring of incentive schemes to the specific needs of the European Union and its policy choices. The paper discusses two possible examples: a system of tradable deficit permits to implement the fiscal constraints imposed by the Maastricht treaty; and a rule allowing country representatives to shift their own votes intertemporally when deliberations are taken by vote in periodic committee meetings.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal European Economic Review.
Volume (Year): 45 (2001)
Issue (Month): 4-6 (May)
Contact details of provider:
Web page: http://www.elsevier.com/locate/eer
Other versions of this item:
- Alessandra Casella, 2000. "Market Mechanisms for Policy Decisions: Tools for the European Union," NBER Working Papers 8027, National Bureau of Economic Research, Inc.
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
- Bagnoli, Mark & Lipman, Barton L, 1989. "Provision of Public Goods: Fully Implementing the Core through Private Contributions," Review of Economic Studies, Wiley Blackwell, vol. 56(4), pages 583-601, October.
- Alessandra Casella, 1999.
"Tradable Deficit Permits: Efficient Implementation of the Stability Pacin the European Monetary Union,"
NBER Working Papers
7278, National Bureau of Economic Research, Inc.
- Alessandra Casella, 1999. "Tradable deficit permits:efficient implementation of the Stability Pact in the European Monetary Union," Economic Policy, CEPR & CES & MSH, vol. 14(29), pages 321-362, October.
- Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753.
- Kjell Hausken & John F. Knutsen, 2002. "The Birth, Adjustment and Death of States," Public Economics 0205004, EconWPA.
- Hausken, Kjell & Knutsen, John F., 2010.
"An enabling mechanism for the creation, adjustment, and dissolution of states and governmental units,"
Economics Discussion Papers
2010-6, Kiel Institute for the World Economy.
- Hausken, Kjell & Knutsen, John F., 2010. "An enabling mechanism for the creation, adjustment, and dissolution of states and governmental units," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 4(32), pages 1-38.
- Kjell Hausken & John F. Knutsen, 2004. "An Enabling Mechanism for the Creation, Adjustment, and Dissolution of States and Governmental Units," Public Economics 0409011, EconWPA.
- Bizer, Kilian & Sesselmeier, Werner, 2004. "Koordinierte Makropolitik in der Europäischen Union?," Publications of Darmstadt Technical University, Institute of Economics (VWL) 21326, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL).
- Bizer, Kilian & Sesselmeier, Werner, 2004. "Koordinierte Makropolitik in der Europäischen Union?," Darmstadt Discussion Papers in Economics 21326, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL).
- Amy K. Filipek & Till Schreiber, 2010. "The Stability and Growth Pact: Past Performance and Future Reforms," Working Papers 97, Department of Economics, College of William and Mary.
- Lossani, Marco & Natale, Piergiovanna & Tirelli, Patrizio, 2001. "A Reform Proposal for EMU Institutions," MPRA Paper 18694, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.