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Addressing the Core-Periphery Imbalances in Europe: Resource Misallocation and Expansionary Fiscal Policies

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  • Luigi Bonatti
  • Andrea Fracasso

Abstract

How can the euro area tackle its perennial problems of core/periphery imbalances and anaemic long-term growth? According to network members Luigi Bonatti and Andrea Fracasso, Università di Trento, there is no quick-fix solution. Temporary fiscal stimulus does not produce permanent improvements, while the upfront costs and short-term negative impact of structural reforms can feed distributional conflicts. Permanent cross-national transfers provide local relief, but also exacerbate tensions among member states. The authors advocate a nuanced approach focused on the key role of structural differences in affecting income and growth differentials, as well as competitive imbalances across the euro area.

Suggested Citation

  • Luigi Bonatti & Andrea Fracasso, 2017. "Addressing the Core-Periphery Imbalances in Europe: Resource Misallocation and Expansionary Fiscal Policies," EconPol Working Paper 6, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    • Handle: RePEc:ces:econwp:_6
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    2. Ronny Mazzocchi & Roberto Tamborini, 2019. "Current Account Imbalances and the Euro Area: Alternative Views," EconPol Working Paper 27, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    3. Baumann, Alexendra & Wohlrabe, Klaus, 2019. "Publikationen von Wirtschaftsforschungsinstituten im deutschsprachigen Raum - Eine bibliometrische Analyse [Publications of Economic Research Insitutes in the German Speaking Area - A bibliometric ," MPRA Paper 92240, University Library of Munich, Germany.
    4. Sofia GOUVEIA & Leonida CORREIA & Patrícia MARTINS, 2020. "European integration and its effects on population in border and peripheral regions," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 11, pages 8-27, November.
    5. Carlos San Juan Mesonada & Carlos Sunyer Manteiga, 2020. "European Structural and Investment Funds and Regional Convergence: The Impact of Public Deficit in Beta-Convergence," EconPol Working Paper 47, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    6. Alexandru Meleca & Radu Radulescu, 2020. "Regional Economic Resilience in the Economy of the European Union," ConScienS Conference Proceedings 018ma, Research Association for Interdisciplinary Studies.
    7. Roberto Tamborini, 2018. "Macroeconomic Imbalances and the Euro Zone. Alternative Views," EconPol Working Paper 14, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.

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