An Alternative Stability Pact for the European Union
AbstractThis paper proposes an alternative stability and growth pact to the one which accompanied the introduction of the euro in January 1999. The latter is part of the third stage of economic and monetary union and, will govern the economic policies of the member countries which have joined the single currency and strongly constrain the policies of those who do not join. The alternative proposed in this paper is a Full Employment, Growth and Stability Pact and would have a number of features, the most important of which is the creation of new institutional arrangements, including the creation of an investment bank. Copyright 2001 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 25 (2001)
Issue (Month): 1 (January)
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Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
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Web page: http://www.cje.oupjournals.org/
Other versions of this item:
- Philip Arestis & Kevin McCauley & Malcolm Sawyer, 2000. "An Alternative Stability Pact for the European Union," Macroeconomics 0004043, EconWPA.
- Philip Arestis & Kevin McCauley & Malcolm Sawyer, 2000. "An Alternative Stability Pact for the European Union," Economics Working Paper Archive wp_296, Levy Economics Institute, The.
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.:
- Eichengreen, Barry, 1993. "European Monetary Unification," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1321-57, September.
- Philip Arestis & Malcolm Sawyer, 2000.
"The Economic and Monetary Union: Current and Future Prospects,"
- Philip Arestis & Malcolm Sawyer, 1999. "The Economic and Monetary Union: Current and Future Prospects," Economics Working Paper Archive wp_282, Levy Economics Institute, The.
- Barry Eichengreen & Charles Wyplosz, 1998. "The Stability Pact: more than a minor nuisance?," Economic Policy, CEPR & CES & MSH, vol. 13(26), pages 65-113, 04.
- Krugman, Paul, 1989. "The Case for Stabilizing Exchange Rates," Oxford Review of Economic Policy, Oxford University Press, vol. 5(3), pages 61-72, Autumn.
- M. Buti & D. Franco & H. Ongena, 1997.
"Budgetary Policies during Recessions - Retrospective Application of the "Stability and Growth Pact" to the Post-War Period,"
European Economy - Economic Papers
121, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
- Marco BUTI & Daniele FRANCO & Hedwig ONGENA, 1997. "Budgeetary Policies during Recessions : Retrospective Application of the Stability and Growth Pact” to the Post-War Period," Discussion Papers (REL - Recherches Economiques de Louvain) 1997041, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Patrick Honohan, 1995. "The Public Policy Role of the European Investment Bank within the EU," Journal of Common Market Studies, Wiley Blackwell, vol. 33(3), pages 315-330, 09.
- Artis, Michael J & Winkler, Bernhard, 1997. "The Stability Pact: Safeguarding the Credibility of the European Central Bank," CEPR Discussion Papers 1688, C.E.P.R. Discussion Papers.
- Arestis, Philip & Sawyer, Malcolm, 1998. "Keynesian Economic Policies for the New Millennium," Economic Journal, Royal Economic Society, vol. 108(446), pages 181-95, January.
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