As always, the report starts with an assessment of the current economic situation, providing a set of forecasts prepared by the Ifo Institute and complemented by the report’s authors, the European Economic Advisory Group at CESifo (EEAG). Chapter 2 focuses on the intra-euro area imbalances, emphasising the need for fiscal consolidation and a realignment of prices. It suggests cutting expenditures rather than raising taxes, and it advocates a fiscal devaluation by shifting the tax burden towards indirect taxes. Chapter 3 looks at long-term unemployment and the development of dual labour markets in some southern countries. At the heart of the analysis is the question of the optimal degree of labour market flexibility, in terms of trading off efficiency and social justice. The chapter opposes automatic, legally binding sector-level bargaining, and emphasises the need for improved vocational education, training and apprenticeships, as well as active labour market policies and employment protection legislation. Chapter 4 compares the European unification process with the history of the United States. It argues that the establishment of a common state is a necessary prerequisite for fiscal transfer schemes and warns against government debt mutualisation schemes. Furthermore, it calls for a US-like settlement mechanism for the Target balances that the EEAG analysed in its 2012 report.
(This abstract was borrowed from another version of this item.)
If 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.
Volume (Year): 1 (2000)
Issue (Month): 1 (02)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=1465-6485|
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=1465-6485|
When requesting a correction, please mention this item's handle: RePEc:bla:germec:v:1:y:2000:i:1:p:1-2. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.