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Asymmetry and Aggregation in the EU

Asymmetry and Aggregation in the EU

Matti Viren
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This book provides a unique study of the differences in economic behaviour according to the phases of the economic cycle in the countries of the European Union. It presents a comprehensive analysis of asymmetry in the EU over the last forty years, and shows that the problems in the global financial crisis were readily predictable.

The authors use empirical research and panel data to show how much economic behaviour changes between the up and down phases of the business cycle, and the difficulties this creates for monetary, fiscal and labour market policies. The volume demonstrates how prescient the asymmetric design of the Stability and Growth Pact was in trying to offset countries understandable optimism in fiscal policy, and the consequent tendency not to manage debt successfully. It also reveals the inherent problems for managing unemployment in an asymmetric labour market.
Language
English
Pages
272
Format
Hardcover
Publisher
Palgrave Macmillan
Release
March 15, 2011
ISBN
0230538088
ISBN 13
9780230538085

Asymmetry and Aggregation in the EU

Matti Viren
0/5 ( ratings)
Read Download
This book provides a unique study of the differences in economic behaviour according to the phases of the economic cycle in the countries of the European Union. It presents a comprehensive analysis of asymmetry in the EU over the last forty years, and shows that the problems in the global financial crisis were readily predictable.

The authors use empirical research and panel data to show how much economic behaviour changes between the up and down phases of the business cycle, and the difficulties this creates for monetary, fiscal and labour market policies. The volume demonstrates how prescient the asymmetric design of the Stability and Growth Pact was in trying to offset countries understandable optimism in fiscal policy, and the consequent tendency not to manage debt successfully. It also reveals the inherent problems for managing unemployment in an asymmetric labour market.
Language
English
Pages
272
Format
Hardcover
Publisher
Palgrave Macmillan
Release
March 15, 2011
ISBN
0230538088
ISBN 13
9780230538085

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