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Monetary policy, macroeconomic policy mix and economic performance in the Euro area

Hein, Eckhard; Truger, Achim - 2006

In order to explain slow growth and high unemployment in the Euro area, in particular if compared to the USA, we follow a macroeconomic policy view focussing on the more restrictive stance of monetary, fiscal and wage policies in the Euro area. In the present paper we focus on the particular...

Persistent link: https://www.econbiz.de/10003744533

Fiscal policy and macroeconomic performance in the Euro area : lessons for the future

Hein, Eckhard; Truger, Achim - 2006

Since the start of the European Monetary Union fiscal policy in the Euro area has been dominated by the Stability and Growth Pact (SGP). Quite obviously the SGP has been unsuccessful in fulfilling its goals, fiscal sustainability and supporting economic growth. More and more countries have...

Persistent link: https://www.econbiz.de/10003744534

The European financial and economic crisis : alternative solutions from a (post-) Keynesian perspective

Hein, Eckhard; Truger, Achim; Treeck, Till van - 2011

The financial and economic crisis in the Euro area has revealed a number of important flaws in the economic policy framework in Europe. On the one hand, the imbalances, which have dominated European development since the introduction of the euro, are not sustainable; and this is more serious in a...

Persistent link: https://www.econbiz.de/10009530390

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies within the current EU fiscal framework

Truger, Achim - 2015

investment programme on the European level insisting, however, that the existing rules of the Stability and Growth Pact be … Juncker-Plan to stimulate (public) investment and is using a less strict interpretation of the Stability and Growth Pact in … effort as well as on ways to increase public investment. It will be shown that even in the existing framework the leeway for …

Persistent link: https://www.econbiz.de/10010511177

Implementing the golden rule for public investment in Europe : safeguarding public investment and supporting the recovery

Truger, Achim - 2015

constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in … public finance and would allow financing net public investment by government deficits thus promoting intergenerational … fairness as well as economic growth. A pragmatic version focusing on net public investment as defined in the national accounts …

Persistent link: https://www.econbiz.de/10011336549

Future fiscal and debt policies : Germany in the Context of the European Monetary Union

Hein, Eckhard; Truger, Achim - 2013

Currently fiscal policies in Germany seem to be in a very comfortable position and the German Debt Brake is regarded as an institutional precondition for this success and has been exported to the Euro area in the guise of the Fiscal Compact. In this paper we scrutinize German fiscal policies and...

Persistent link: https://www.econbiz.de/10009756271

Austerity in the Euro area : the sad state of economic policy in Germany and the EU

Truger, Achim - 2013

The Euro area is currently going through its worst period of recession and economic stagnation since the Great Depression and World War II. The article tries to give an impression of the extraordinary degree of fiscal austerity and the devastating economic effects it has already had and must be...

Persistent link: https://www.econbiz.de/10009756285

Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area

Truger, Achim - 2014

Fiscal policy in the Euro area is still dominated by austerity measures implemented under the institutional setting of the 'reformed' stability and growth pact, and the even stricter 'fiscal compact'. At the same time, calls for a more expansionary fiscal policy to overcome the economic crisis...

Persistent link: https://www.econbiz.de/10010424293

European monetary union : nominal convergence, real divergence and slow growth? ; an investigation into the effects of changing macroeconomic policy institutions associated with mo...

Hein, Eckhard; Truger, Achim - 2002

It is by now widely accepted that the structural characteristics of the countries to become the euro area did not adhere to the conditions of an optimum currency area (OCA) when the euro was introduced in 1999. However, the satisfaction of OCA criteria may not be required for a workable currency...

Persistent link: https://www.econbiz.de/10010486803

The golden rule of public investment : a necessary and sufficient reform of the EU fiscal framework?

Truger, Achim - 2016

consequence, increases in public investment are particularly necessary. Against this background this contribution discusses and … growth pact (SGP), Fiscal Compact (FC)). Such a rule would exempt public (net) investment suitably defined from the relevant … upgraded and receive larger room for manoeuvre and public investment as a particularly growth enhancing public expenditure …

Persistent link: https://www.econbiz.de/10011477456