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Persistent link: https://www.econbiz.de/10001582130
This contribution examines fiscal policy co-ordination in the Economic and Monetary Union (EMU) and discusses whether the amendments of the Stability and Growth Pact proposed in the past, some of which have since been implemented, enhance budget discipline. In doing so, it provides a detailed...
Persistent link: https://www.econbiz.de/10012713881
In this multidisciplinary contribution the authors argue both from a normative and economic perspective that the 2005 reform of the European Stability and Growth Pact, which is limited to an amendment of secondary Community law, cannot remedy the basic shortcomings of the rules on economic...
Persistent link: https://www.econbiz.de/10014212577
Governments increasingly are seeking to use bilateral and regional trade agreements to reduce the cost-increasing effects of differences in product market regulation. They also pursue regulatory cooperation independent of trade agreements. It is important to understand what is being done through...
Persistent link: https://www.econbiz.de/10012951018
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legitimacy. A new generation of researchers, witnessing and in part affected by the course of events during the crisis, is … the ECB has transformed significantly during the crisis, not only raising concerns about the legitimacy of the position … discussing main determinants of the independence and democratic legitimacy of the ECB today, as well as identifying risks …
Persistent link: https://www.econbiz.de/10012889396
The ruling of the German Federal Constitutional Court and its call for conducting and communicating proportionality assessments regarding monetary policy have been the subject of some controversy. However, it can also be understood as a way to strengthen the de-facto independence of the European...
Persistent link: https://www.econbiz.de/10012303171
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potential to further transform the role, power, legitimacy, and future of independent central banks. The first is the evolution …
Persistent link: https://www.econbiz.de/10014344815