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Guidelines for sustained growth in the EU? The concept and consequences of the Broad Economic Policy Guidelines

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Author Info

  • Eckhard Hein

    (Macroeconomic Policy Institute IMK in the Hans Boeckler Foundation)

  • Torsten Niechoj

    (University of Goettingen)

Abstract

The Broad Economic Policy Guidelines contain the answers of the European Commission and the governments of the EU-member countries to the European growth and employment problems. These guidelines have been the major EU-economic policy concept for around ten years now. They can be seen as a synthesis of the economic policy regime dominating the EU since the early to mid 1990s. However, this concept has not been able to generate sustained growth and low unemployment in the EU as a whole. Examining the guidelines we show the weaknesses of the underlying economic policy model and outline an alternative concept which promises more growth and employment for Europe in the long run.

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File URL: http://128.118.178.162/eps/mac/papers/0508/0508016.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Macroeconomics with number 0508016.

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Length: 32 pages
Date of creation: 12 Aug 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0508016

Note: Type of Document - pdf; pages: 32
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Web page: http://128.118.178.162

Related research

Keywords: Broad economic policy guidelines; European Union; monetary policy; wage policy; fiscal policy; policy co-ordination;

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References

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  1. Arestis, Philip & McCauley, Kevin & Sawyer, Malcolm, 2001. "An Alternative Stability Pact for the European Union," Cambridge Journal of Economics, Oxford University Press, vol. 25(1), pages 113-30, January.
  2. Andrew Glyn, 2003. "Labor Market Institutions and Unemployment: A Critical Assessment of the Cross-Country Evidence," Economics Series Working Papers 168, University of Oxford, Department of Economics.
  3. Christopher Allsopp & Michael J. Artis, 2003. "The Assessment: EMU, Four Years On," Oxford Review of Economic Policy, Oxford University Press, vol. 19(1), pages 1-29.
  4. Christopher Allsopp, 2002. "The Future of Macroeconomic Policy in the European Union," Discussion Papers 07, Monetary Policy Committee Unit, Bank of England.
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Cited by:
  1. Hein, Eckhard & Truger, Achim, 2010. "Finance-dominated capitalism in crisis – the case for a Global Keynesian New Deal," MPRA Paper 21175, University Library of Munich, Germany.
  2. Eckhard Hein & Achim Truger & Till van Treeck, 2011. "The European Financial and Economic Crisis: Alternative Solutions from a (Post-) Keynesian Perspective," IMK Working Paper 9-2011, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

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