3

výsledok(-ky)

Slovo (slová)
Typ publikácie
Oblasť politiky
Autor
Kľúčové slovo
Dátum

Subdued Inflation, Targets and Monetary Policy Cooperation

16-09-2019

This paper examines the case that there has been a structural change in the determination of inflation in the EU (and elsewhere) that has led to a low real-wages, low inflation, slow productivity growth regime. In fact, there appears to have been no structural change. Instead, there has been a marked convergence between the performance of those variables in national economies. The implication is that there is little scope for greater monetary coordination in the conventional sense, or adjusting the ...

This paper examines the case that there has been a structural change in the determination of inflation in the EU (and elsewhere) that has led to a low real-wages, low inflation, slow productivity growth regime. In fact, there appears to have been no structural change. Instead, there has been a marked convergence between the performance of those variables in national economies. The implication is that there is little scope for greater monetary coordination in the conventional sense, or adjusting the monetary rules (e.g., targets), since this uniformity is the origin of the low inflation problem. Outcomes can be improved with better coordination of monetary policy with non-monetary variables. There are two lines of attack. One is a short term approach using conventional instruments (monetary-fiscal, structural or labour market reforms, improving policymakers’ credibility). The other is a long term approach based on improved income distribution, a better distribution of the gains from productivity growth, and stabilisation by means of an external anchor (exchange rate).

Externý autor

Andrew Hughes Hallett

One Year to Go: The Debate over China's Market Economy Status (MES) Heats Up

17-12-2015

Market economy status (MES) – a technical term used in antidumping investigations – has come to the top of the international agenda, bringing heated discussions on whether or not China will soon be granted this status. China argues that its WTO accession documents foresee an automatic acquisition of MES after 11 December 2016. Yet for many other WTO members, the text in question – Section 15 of China's Protocol of Accession – is subject to interpretation. The issue is sensitive for a number of reasons ...

Market economy status (MES) – a technical term used in antidumping investigations – has come to the top of the international agenda, bringing heated discussions on whether or not China will soon be granted this status. China argues that its WTO accession documents foresee an automatic acquisition of MES after 11 December 2016. Yet for many other WTO members, the text in question – Section 15 of China's Protocol of Accession – is subject to interpretation. The issue is sensitive for a number of reasons. Legally, the EU must ensure that its rules are compatible with the WTO's. But the economic aspects are complex – and potentially substantial for significant sectors of the Union's economy. The EU's ability to level the playing field for its own industrial products and imports from China depends on its ability to offset unfairly low prices of 'dumped' Chinese imports; the antidumping instruments the Union deploys to this end depend on China's MES. The issue also has political ramifications, and may well affect the Union's relationship with other countries. In general, the EU would benefit from a more elaborated assessment than has yet been undertaken, from the input of the European Parliament, and from a more coordinated approach with major trading partners.

Is the Semester Hard-Wired for Austerity or for Growth? (Interparliamentary Committee Meeting, January 2013)

15-02-2013

During the Interparliamentary Committee Meeting, a debate took place on two key policy issues: the relationship between effectiveness and political legitimacy of the new framework for European Governance and the difficult cohabitation between austerity and growth. The need for a more active role of the European Parliament in the central elements of the European Semester (recommendations) was emphasised, as both accountability and political legitimacy are insufficiently accounted for. Assessment and ...

During the Interparliamentary Committee Meeting, a debate took place on two key policy issues: the relationship between effectiveness and political legitimacy of the new framework for European Governance and the difficult cohabitation between austerity and growth. The need for a more active role of the European Parliament in the central elements of the European Semester (recommendations) was emphasised, as both accountability and political legitimacy are insufficiently accounted for. Assessment and policy prescriptions differed more widely when the austerity-growth nexus was debated, e.g. between those warning about the harsh effects on welfare and long-term growth induced by the large slack in effective demand and those calling for more tolerance towards market forces to correct competitiveness differentials and unsustainable current account imbalances between euro area countries.

Externý autor

Stefan COLLIGNON (Scuola Superiore Sant'Anna, Pisa, Italy) with research assistance by Piero ESPOSITO (Centro Europe Richerche, Rome, Italy) , Hans-Werner SINN (Ifo Institute for Economic Research and University of Munich, Germany) , Xavier TIMBEAU (Observatoire Français des Conjonctures Economiques, France)

Nadchádzajúce podujatia

28-01-2021
Consequences and lessons from COVID-19 crisis for people in residential institutions
Vypočutie -
EMPL LIBE
28-01-2021
Public Hearing "Mind the gap: For equal access to cancer medicines and treatments"
Vypočutie -
BECA
01-02-2021
Eighth meeting of the Joint Parliamentary Scrutiny Group on Europol, 1-2 February
Ďalšie podujatia -
LIBE

Partneri