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Defining a People: How do international rights influence the identity formation of minority groups?. CES Working Paper, no. 84, 2002

Toivanen, Reetta. (2002) Defining a People: How do international rights influence the identity formation of minority groups?. CES Working Paper, no. 84, 2002. [Working Paper]

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    Abstract

    This paper looks at the macroeconomic performance of EMU since it started in 1999. It argues that Euroland has benefited from a benign environment, appropriate monetary policy and structural reforms. However, there is no institution clearly in charge of formulating coherent economic policies in Euroland and this is reflected in the euro's external value. The paper then evaluates the need for policy coordination, distinguishing between weak and strong forms of coordination failure. It shows that intergovernmental coordination may be an answer to the latter, pareto-improving multiple equilibria. However, overcoming weak coordination failure requires further policy delegation to the EU level, particularly for the definition of an aggregate fiscal policy stance. Yet, this is only possible if the democratic deficit resulting from intergovernmental cooperation is closed by a European-wide policy consensus. To achieve this should be the objective of a European constitution.

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    Item Type: Working Paper
    Uncontrolled Keywords: European monetary integration, economic policy coordination, fiscal policy, monetary policy, public goods, consensus
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > political affairs > democracy/democratic deficit
    EU policies and themes > Policies & related activities > economic and financial affairs > EMU/EMS/euro
    EU policies and themes > EU institutions & developments > institutional development/policy > decision making/policy-making
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Harvard University, Center for European Studies > CES Working Papers Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 19 Aug 2009
    Page Range: p. 19
    Last Modified: 15 Feb 2011 17:59
    URI: http://aei.pitt.edu/id/eprint/9141

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