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dc.contributor.authorBrunet, Ferrán
dc.date.accessioned2013-07-19T10:06:04Z
dc.date.available2013-07-19T10:06:04Z
dc.date.issued2013
dc.identifier.bibliographicCitationDocumentos de trabajo. IAES- Instituto Universitario de Análisis Económico y Social, Universidad de Alcalá, N. 3 , Año 2013. ISSN 1139-6148en_US
dc.identifier.issn1139-6148
dc.identifier.urihttp://hdl.handle.net/10017/18381
dc.description.abstractThis 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 builderen_US
dc.format.mimetypeapplication/pdfe
dc.language.isoengen_US
dc.publisherUniversidad de Alcalá. Instituto Universitario de Análisis Económico y Socialen_US
dc.subjectStabilityen_US
dc.subjectCompetitivenessen_US
dc.subjectEuropean Monetary Unionen_US
dc.subjectEuropeen_US
dc.subjectEconomic Policyen_US
dc.titleConvergence and divergences in the european economy : rebalancing and being competitive in a non‐optimal monetary unionen_US
dc.typeinfo:eu-repo/semantics/workingPaperen
dc.subject.ecienciaEconomía
dc.subject.ecienciaEconomics
dc.subject.ecienciaSociología
dc.subject.ecienciaSociology
dc.contributor.affiliationUniversidad de Alcalá. Instituto Universitario de Análisis Económico y Social (IAES)
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen


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