Supranationale Koordinierung der Wirtschaftspolitik in der Europäischen Wirtschafts- und Währungsunion

Abstract

"Since 1999, the European Central Bank has set the monetary 1 policy for the member countries of the European monetary union. What does this common monetary policy mean for other processes of economic co-ordination in the European Union? P This paper focuses on macroeconomic co-ordination in the b member states that aims to improve the employment situation (1 according to the Lisbon strategy. There are different views re- garding the assignment of macrocconomic policies: whilst most economists prefer a strict demarcation between different macro- economic policies according to their specific goals (monetary policy, fiscal policy, etc.), others espouse the active co-ordi- nation of macroeconomic policies to fight unemployment. A mayor topic is the return of the Phillips curve, which posits a trade off between unemployment and inflation - and, hence, monetary policy - even in the long run. Another issue concerns the co-ordination of fiscal policy between member states facing economic recessions. The last part of the paper deals with the discussion surrounding the European Growth and Stability Pact.<br>The paper concludes that further co-ordination of macroeco- nomic policies is not necessary to fight unemployment. More- over, as there are different reasons for unemployment in differ- ent member states, labour-market policies do not have to be co- ordinated between member states. Nevertheless, measures to re- medy structural deficiencies in labour markets will be important in fostering employment growth and in decreasing the structural budget deficits in some member countries." (Author's abstract, IAB-Doku) ((en))

Cite article

Bogai, D. (2004): Supranationale Koordinierung der Wirtschaftspolitik in der Europäischen Wirtschafts- und Währungsunion. In: Sozialer Fortschritt, Vol. 53, No. 6, p. 143-152.