View Item 
  •   e_Buah Home
  • INVESTIGACIÓN
  • Institutos Universitarios
  • Instituto Universitario de Análisis Económico y Social (IAES)
  • IAES - Documentos de Trabajo
  • View Item
  • INVESTIGACIÓN
  • Institutos Universitarios
  • Instituto Universitario de Análisis Económico y Social (IAES)
  • IAES - Documentos de Trabajo
  • View Item
  • Biblioteca
    • English
    • español
JavaScript is disabled for your browser. Some features of this site may not work without it.

Convergence and divergences in the european economy : rebalancing and being competitive in a non‐optimal monetary union

Show full item record
RefworksUtilizar EndNote Import
Authors
Brunet, Ferrán
Identifiers
Permanent link (URI): http://hdl.handle.net/10017/18381
ISSN: 1139-6148
Publisher
Universidad de Alcalá. Instituto Universitario de Análisis Económico y Social
Date
2013
Affiliation
Universidad de Alcalá. Instituto Universitario de Análisis Económico y Social (IAES)
Bibliographic citation
Documentos de trabajo. IAES- Instituto Universitario de Análisis Económico y Social, Universidad de Alcalá, N. 3 , Año 2013. ISSN 1139-6148
Keywords
Stability
Competitiveness
European Monetary Union
Europe
Economic Policy
Document type
info:eu-repo/semantics/workingPaper
Access rights
info:eu-repo/semantics/openAccess
Share
 
Abstract
This paper analyzes the structures, tendencies and challenges of the euro zone due to its non-optimal nature. The impact of the euro is asymmetric and contradictory: in the glorious ten first years a miracle and many bubbles appeared in some euro peripheral economies but they collapsed and enter in an inferno, in a trap despite its rescue by the European Union. The European challenges on competitiveness due to the deficits on productivity and competition are concentrated in the periphery. The virtuous euro zone states, reformed and applying ruled policies, have enlarged their competitiveness. The euroimbalances grew changing the convergence into huge divergences. The structural challenges of the European economy were propelled i) by the non-optimal condition of the euro zone, in particular the no movement of workers, the inflexibility of wages and costs and the no banking union; and b) by the European economic governance deficit, in particular the contradiction between a non-optimal monetary union and the divergent state’ fiscal policies. Europe is an anchor… or a torpedo. The euro zone and its member states are rebalancing, deleveraging and adjusting internally the economies, walking to be competitive. The Union is helping on this, reassessing the added value of Europe. Europe is coming to be an optimal currency area. Nevertheless the Union is suffering from two systemic risks: i) economic because of recession, public failure and credit crunch; and ii) institutional because of having no the instruments of his needs, the emerging euroscepticism, and the tendencies to the disintegration both of the Union and of certain member states. Then there is a need for Europe, acute in many countries. And there is a new task for the Union as regulatory quality developer and even as state builder
Files in this item
FilesSizeFormat
View
convergence_brunet_IAESDT_2013 ...586.5KbPDF
FilesSizeFormat
View
convergence_brunet_IAESDT_2013 ...586.5KbPDF
Collections
  • IAES - Documentos de Trabajo [218]

Contact Us | Send Feedback | About DSpace
¡CSS Válido!@mire NV
¡CSS Válido!@mire NV
 

 

Browse

All of e_BuahCommunities y CollectionsIssue DateAuthorsTitlesSubjectsIn this CollectionIssue DateAuthorsTitlesSubjects

My Account

My e_BuahCreate account

Help

What is e-Buah?Guide e_BuahGuide autoarchiveFAQContact us

Statistics

View Usage Statistics

Information

Open Science. Open accessOpen access PolicyPublishing permissionsCopyrightResearch datae-cienciaDatos RepositoryPlan de Gestión de Datos

Los contenidos se difunden en


Contact Us | Send Feedback | About DSpace
¡CSS Válido!@mire NV
¡CSS Válido!@mire NV