IDEAS home Printed from https://ideas.repec.org/p/ecb/ecbops/2011127.html

Beyond the economics of the euro - analysing the institutional evolution of EMU 1999-2010

Author

Listed:
  • Salines, Marion
  • Glöckler, Gabriel
  • Truchlewski, Zbigniew
  • del Favero, Paola

Abstract

This Occasional Paper examines how and why the institutional framework governing EMU has evolved since the creation of the euro. Building on theories of institutionalism, the paper in particular investigates to what extent functional spillovers from the single currency into other policy domains, like macroeconomic policies or financial regulation, met with an adequate institutional response, and to what extent the existing institutional framework conditioned the response to the financial crisis. The interaction between policy requirements and institutional capabilities is examined both in JEL Classification: E52, E31, D84

Suggested Citation

  • Salines, Marion & Glöckler, Gabriel & Truchlewski, Zbigniew & del Favero, Paola, 2011. "Beyond the economics of the euro - analysing the institutional evolution of EMU 1999-2010," Occasional Paper Series 127, European Central Bank.
    • Handle: RePEc:ecb:ecbops:2011127
    Note: 1720042
    as

    Download full text from publisher

    File URL: https://www.ecb.europa.eu//pub/pdf/scpops/ecbocp127.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Salvador Barrios & Andrea Schaechter, 2008. "The quality of public finances and economic growth," European Economy - Economic Papers 2008 - 2015 337, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    2. Orion Lewis & Sven Steinmo, 2007. "Taking Evolution Seriously," ARENA Working Papers 19, ARENA.
    3. Pierson, Paul, 2000. "Increasing Returns, Path Dependence, and the Study of Politics," American Political Science Review, Cambridge University Press, vol. 94(2), pages 251-267, June.
    4. repec:bla:jcmkts:v:47:y:2009:i::p:1063-1083 is not listed on IDEAS
    5. Jean Pisani-Ferry, 2010. "Euro area governance- What went wrong in the euro area? How to repair it?," Bruegel Policy Contributions 410, Bruegel.
    6. repec:bla:jcmkts:v:47:y:2009:i::p:63-87 is not listed on IDEAS
    7. Lucia Quaglia & Robert Eastwood & Peter Holmes, 2009. "The Financial Turmoil and EU Policy Co‐operation in 2008," Journal of Common Market Studies, Wiley Blackwell, vol. 47(s1), pages 63-87, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Masciandaro, Donato & Romelli, Davide, 2015. "Ups and downs of central bank independence from the Great Inflation to the Great Recession: theory, institutions and empirics," Financial History Review, Cambridge University Press, vol. 22(3), pages 259-289, December.
    2. Salines, Marion & Glöckler, Gabriel & Truchlewski, Zbigniew & del Favero, Paola, 2011. "Beyond the economics of the euro - analysing the institutional evolution of EMU 1999-2010, September 2011," Occasional Paper Series 127, European Central Bank.
    3. Michal Jurek & Pawel Marszalek, 2015. "Policy alternatives for the relationship between ECB monetary and financial policies and new member states," Working papers wpaper112, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    4. Masciandaro Donato, 2012. "Back to the Future?: Central Banks as Prudential Supervisors in the Aftermath of the Crisis," European Company and Financial Law Review, De Gruyter, vol. 9(2), pages 112-130, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Salines, Marion & Glöckler, Gabriel & Truchlewski, Zbigniew & del Favero, Paola, 2011. "Beyond the economics of the euro - analysing the institutional evolution of EMU 1999-2010, September 2011," Occasional Paper Series 127, European Central Bank.
    2. Fabiana Rocha & Veronica Orellano, Karina Bugarin, 2016. "Local public finances in Brazil: are mayoral characteristics important?," Working Papers, Department of Economics 2016_04, University of São Paulo (FEA-USP).
    3. Steffi Heinecke, 2016. "The Gradual Transformation of the Polish Public Science System," PLOS ONE, Public Library of Science, vol. 11(4), pages 1-17, April.
    4. Eloy Solis & Kayvan Karimi & Irene Garcia & Inmaculada Mohino, 2022. "Knowledge Economy Clustering at the Intrametropolitan Level: Evidence from Madrid," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1268-1299, June.
    5. Fu, Tong & Jian, Ze, 2020. "A developmental state: How to allocate electricity efficiently in a developing country," Energy Policy, Elsevier, vol. 138(C).
    6. repec:spo:wpmain:info:hdl:2441/2b86iahfka8nib85jevjn10bsn is not listed on IDEAS
    7. Kjerstin Kjøndal, 2020. "Nordic Cooperation in the Nuclear Safety Sector: High, Low, or Differentiated Integration?," Politics and Governance, Cogitatio Press, vol. 8(4), pages 33-43.
    8. Bischi, Gian Italo & Merlone, Ugo & Pruscini, Eros, 2018. "Evolutionary dynamics in club goods binary games," Journal of Economic Dynamics and Control, Elsevier, vol. 91(C), pages 104-119.
    9. Thomas Brenner & Sonja Jeddeloh, 2024. "Path dependence in an evolving system: a modeling perspective," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 18(1), pages 1-36, January.
    10. Hagen, Johannes, 2013. "A History of the Swedish Pension System," Working Paper Series, Center for Fiscal Studies 2013:7, Uppsala University, Department of Economics.
    11. Andrea Leiter & Engelbert Theurl, 2012. "The convergence of health care financing structures: empirical evidence from OECD-countries," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 13(1), pages 7-18, February.
    12. Ibrar Hussain & Zahoor Khan & Muhmmad Rafiq, 2017. "Compositional Changes in Public Expenditure and Economic Growth: Time Series Evidence from Pakistan," Business & Economic Review, Institute of Management Sciences, Peshawar, Pakistan, vol. 9(1), pages 1-20, March.
    13. Hanan Haber, 2020. "The Political Economy of Regulating for Welfare: Regulation Preventing Loss of Access to Basic Services in the UK, Sweden, the EU, and Israel," The ANNALS of the American Academy of Political and Social Science, , vol. 691(1), pages 50-67, September.
    14. Bhardwaj, Chandan & Axsen, Jonn & Kern, Florian & McCollum, David, 2020. "Why have multiple climate policies for light-duty vehicles? Policy mix rationales, interactions and research gaps," Transportation Research Part A: Policy and Practice, Elsevier, vol. 135(C), pages 309-326.
    15. Yang, Ju-Ying, 2025. "Pathways to a sustainable energy future: A comparative case study of four Texas municipalities," Energy Policy, Elsevier, vol. 204(C).
    16. Gerschewski, Johannes, 2021. "Explanations of Institutional Change: Reflecting on a “Missing Diagonal”," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 115(1), pages 218-233.
    17. Blom, Tannelie & Radulova, Elissaveta & Arnold, Christine, 2008. "Theorizing Modes of Governance in the EU: Institutional Design and Informational Complexity," European Governance Papers (EUROGOV) 4, CONNEX and EUROGOV networks.
    18. David P Carter & Christopher M Weible & Saba N Siddiki & Xavier Basurto, 2016. "Integrating core concepts from the institutional analysis and development framework for the systematic analysis of policy designs: An illustration from the US National Organic Program regulation," Journal of Theoretical Politics, , vol. 28(1), pages 159-185, January.
    19. Eichhorst, Werner & Kaiser, Lutz C., 2006. "The German Labor Market: Still Adjusting Badly?," IZA Discussion Papers 2215, IZA Network @ LISER.
    20. Rodrigo Alves Rolo & Kristof Van Assche & Martijn Duineveld, 2021. "Strategy and Steering in Governance: The Changing Fates of the Argentine Planning Council," Politics and Governance, Cogitatio Press, vol. 9(2), pages 415-427.
    21. Falkner, Gerda & Hartlapp, Miriam & Leiber, Simone & Treib, Oliver, 2002. "Transforming social policy in Europe? The EC's parental leave directive and misfit in the 15 member states," MPIfG Working Paper 02/11, Max Planck Institute for the Study of Societies.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecb:ecbops:2011127. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Official Publications (email available below). General contact details of provider: https://edirc.repec.org/data/emieude.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.