Marco Lossani (Catholic University of Milan) Piergiovanna Natale () (Department of Economics, University of Milan-Bicocca and Catholic University of Milan) Patrizio Tirelli () (Department of Economics, University of Milan-Bicocca and University of Glasgow)
Additional information is available for the following
registered author(s):
Building on widespread criticisms of current EMU institutional arrangements, we sketch a reform proposal for EMU macroeconomic institutions. We advocate the adoption of targets for both monetary and fiscal policies, to be integrated by a system of checks and balances. As for fiscal policy, expenditures, taxation and deficit targets will strengthen the governments commitment and, at the same time, facilitate "wellbehaved" stabilisation policies. Turning to monetary policy, inflation targeting, alongside with the assignment of ex-post assessing powers to the European Parliament and an internal reform of the ECB, will limit undue nationalistic influences within the ECB governing bodies.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. 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.
Publisher Info
Paper provided by University of Milano-Bicocca, Department of Economics in its series Working Papers with number
40.
Did you know? Each page is provided with a technical contact, in case something is not right with the supplied information. See under "publisher info".