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How will EMU affect cohesion?

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Author Info

  • Brian Ardy
  • Iain Begg
  • Waltraud Schelkle
  • Francisco Torres

Abstract

The new policy environment of EMU affects economic, political, and social cohesion in different ways: the policy mix and menu will be reconfigured; it will provide for more macroeconomic stability in cohesion countries; economic competition will intensify and change patterns of specialisation; and comparison of living standards will become easier which puts pressure on policymakers to reduce inequalities. This article assesses the significance of these effects and their likely consequences in the short, medium and long run. Then the salient cohesion issues regarding Eastern enlargement are discussed. Finally, policy conclusions are drawn, mindful of the considerable uncertainties that warrant further research.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.1007/BF02930319
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Bibliographic Info

Article provided by Springer in its journal Intereconomics.

Volume (Year): 37 (2002)
Issue (Month): 6 (November)
Pages: 300-314

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Handle: RePEc:spr:intere:v:37:y:2002:i:6:p:300-314

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References

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  1. Reuven Glick & Andrew K. Rose, 2001. "Does a Currency Union Affect Trade? The Time Series Evidence," NBER Working Papers 8396, National Bureau of Economic Research, Inc.
  2. Karl Aiginger & Michael Pfaffermayr, 2004. "The Single Market and Geographic Concentration in Europe," Review of International Economics, Wiley Blackwell, vol. 12(1), pages 1-11, 02.
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  7. Frankel, Jeffrey A. & Rose, Andrew K., 1997. "Is EMU more justifiable ex post than ex ante?," European Economic Review, Elsevier, vol. 41(3-5), pages 753-760, April.
  8. Olga Arratibel & Diego Rodriguez-Palenzuela & Christian Thimann, 2002. "Inflation dynamics and dual inflation in accession countries: a 'New Keynesian' perspective," Working Paper Series 132, European Central Bank.
  9. Cappelen, Aadne & Fagerberg, Jan & Verspagen, Bart, 1999. "Lack of regional convergence," Open Access publications from Maastricht University urn:nbn:nl:ui:27-18077, Maastricht University.
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  11. G. Carone & A. Salom�ki, 2001. "Reforms in tax-benefit systems in order to increase emplyoment incentives in the EU," European Economy - Economic Papers 160, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  12. Jan Fagerberg, 1999. "The Economic Challenge for Europe: Adapting to Innovation-Based Growth," Working Papers 2, Centre for Technology, Innovation and Culture, University of Oslo.
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Cited by:
  1. Miguel Lebre de Freitas & Francisco Torres & Celeste Amorim & Annette Bongardt & Ricardo Silva & Marta Dias, 2005. "Regional Convergence in Portugal: Policy Impacts (1990-2001)," Working Papers de Economia (Economics Working Papers) 35, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
  2. Florence Bouvet, 2010. "EMU and the dynamics of regional per capita income inequality in Europe," Journal of Economic Inequality, Springer, vol. 8(3), pages 323-344, September.

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