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The Case for Straightening Out Macroeconomic Policy in the European Union

  • Markus Marterbauer
Chapter

Abstract

In the European Union there is agreement that the establishment of the European Monetary Union is a decisive political and economic achievement. Politically, EMU is a further step in European integration, which could lead to a federal Europe with democratic legitimacy in the long run. Due to EMU, stable exchange rates within the internal market and a framework for a common monetary policy have been established. This could lead to a federalisation of other policy instruments, especially a proper EU budget and elements of a federal fiscal policy.

Keywords

Interest Rate Monetary Policy Fiscal Policy Aggregate Demand Macroeconomic Policy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© Springer Science+Business Media New York 2003

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  • Markus Marterbauer

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