Adjusting to EMU: The Impact of Supranational Monetary Policy on Domestic Fiscal and Wage-Setting Institutions
The article suggests an explanation for seemingly diverse patterns of change in domestic economic institutions following the establishment of Economic and Monetary Union (EMU). It argues that EMU participants redesigned ill-fitting domestic fiscal and wage-setting institutions in order to counter th...
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| Veröffentlicht in: | European Union politics 2006-03, Vol.7 (1), p.113-140 |
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| container_title | European Union politics |
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| creator | Enderlein, Henrik |
| description | The article suggests an explanation for seemingly diverse patterns of change in
domestic economic institutions following the establishment of Economic and Monetary
Union (EMU). It argues that EMU participants redesigned ill-fitting domestic fiscal
and wage-setting institutions in order to counter the anticipated destabilizing
effects of the ‘one size fits all’ monetary policy of the
European Central Bank (ECB). After outlining the argument, the article identifies
general economic and institutional conditions that are required for the use of
fiscal and wage-setting institutions as effective stabilizers in a monetary union.
It then undertakes a comparative assessment to detect country-specific mismatches
between anticipated needs and the available domestic economic institutions. Finally,
the article surveys institutional changes in 10 member states between the mid 1990s
and 2002 and shows that the observed institutional adjustments largely correspond to
the expected correction of initial mismatches. |
| doi_str_mv | 10.1177/1465116506060914 |
| format | Article |
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domestic economic institutions following the establishment of Economic and Monetary
Union (EMU). It argues that EMU participants redesigned ill-fitting domestic fiscal
and wage-setting institutions in order to counter the anticipated destabilizing
effects of the ‘one size fits all’ monetary policy of the
European Central Bank (ECB). After outlining the argument, the article identifies
general economic and institutional conditions that are required for the use of
fiscal and wage-setting institutions as effective stabilizers in a monetary union.
It then undertakes a comparative assessment to detect country-specific mismatches
between anticipated needs and the available domestic economic institutions. Finally,
the article surveys institutional changes in 10 member states between the mid 1990s
and 2002 and shows that the observed institutional adjustments largely correspond to
the expected correction of initial mismatches.</description><identifier>ISSN: 1465-1165</identifier><identifier>EISSN: 1741-2757</identifier><identifier>DOI: 10.1177/1465116506060914</identifier><language>eng</language><publisher>London, Thousand Oaks CA, New Delhi: SAGE Publications</publisher><subject>Economic and Monetary Union ; Economic stability ; Europe ; European Central Bank ; European Union ; Fiscal Policy ; Institutions ; Monetary Policy ; Policy Making ; Supranationalism ; Wage levels</subject><ispartof>European Union politics, 2006-03, Vol.7 (1), p.113-140</ispartof><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><cites>FETCH-LOGICAL-c296t-734aab47d3c69937a822689cea0e31450036b6e56aeb5b4a5ecc590242cde86b3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://journals.sagepub.com/doi/pdf/10.1177/1465116506060914$$EPDF$$P50$$Gsage$$H</linktopdf><linktohtml>$$Uhttps://journals.sagepub.com/doi/10.1177/1465116506060914$$EHTML$$P50$$Gsage$$H</linktohtml><link.rule.ids>314,780,784,21818,27923,27924,43620,43621</link.rule.ids></links><search><creatorcontrib>Enderlein, Henrik</creatorcontrib><title>Adjusting to EMU: The Impact of Supranational Monetary Policy on Domestic Fiscal and Wage-Setting Institutions</title><title>European Union politics</title><description>The article suggests an explanation for seemingly diverse patterns of change in
domestic economic institutions following the establishment of Economic and Monetary
Union (EMU). It argues that EMU participants redesigned ill-fitting domestic fiscal
and wage-setting institutions in order to counter the anticipated destabilizing
effects of the ‘one size fits all’ monetary policy of the
European Central Bank (ECB). After outlining the argument, the article identifies
general economic and institutional conditions that are required for the use of
fiscal and wage-setting institutions as effective stabilizers in a monetary union.
It then undertakes a comparative assessment to detect country-specific mismatches
between anticipated needs and the available domestic economic institutions. Finally,
the article surveys institutional changes in 10 member states between the mid 1990s
and 2002 and shows that the observed institutional adjustments largely correspond to
the expected correction of initial mismatches.</description><subject>Economic and Monetary Union</subject><subject>Economic stability</subject><subject>Europe</subject><subject>European Central Bank</subject><subject>European Union</subject><subject>Fiscal Policy</subject><subject>Institutions</subject><subject>Monetary Policy</subject><subject>Policy Making</subject><subject>Supranationalism</subject><subject>Wage levels</subject><issn>1465-1165</issn><issn>1741-2757</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2006</creationdate><recordtype>article</recordtype><sourceid>7UB</sourceid><recordid>eNqFkM1Lw0AQxRdRsFbBo8eevK3OfmePpdQPqHix52WzmZaENKm7ycH_3i3xJIjMYQbe7w28R8gdgwfGjHlkUivGtAKdxzJ5RmbMSEa5UeY831mmJ_2SXKXUAHCwUs3I7bJqxjTU3X4x9Iv12_aaXOx8m_DmZ8_J9mn9sXqhm_fn19VyQwO3eqBGSO9LaSoRtLXC-IJzXdiAHlAwqQCELjUq7bFUpfQKQ1AWuOShwkKXYk7up7_H2H-OmAZ3qFPAtvUd9mNyyhoGhZT_giJnVgJEBmECQ-xTirhzx1gffPxyDNypI_e7o2yhkyX5PbqmH2OXM__NfwPFEWK3</recordid><startdate>200603</startdate><enddate>200603</enddate><creator>Enderlein, Henrik</creator><general>SAGE Publications</general><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><scope>7UB</scope></search><sort><creationdate>200603</creationdate><title>Adjusting to EMU</title><author>Enderlein, Henrik</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c296t-734aab47d3c69937a822689cea0e31450036b6e56aeb5b4a5ecc590242cde86b3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2006</creationdate><topic>Economic and Monetary Union</topic><topic>Economic stability</topic><topic>Europe</topic><topic>European Central Bank</topic><topic>European Union</topic><topic>Fiscal Policy</topic><topic>Institutions</topic><topic>Monetary Policy</topic><topic>Policy Making</topic><topic>Supranationalism</topic><topic>Wage levels</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Enderlein, Henrik</creatorcontrib><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>Worldwide Political Science Abstracts</collection><jtitle>European Union politics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Enderlein, Henrik</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Adjusting to EMU: The Impact of Supranational Monetary Policy on Domestic Fiscal and Wage-Setting Institutions</atitle><jtitle>European Union politics</jtitle><date>2006-03</date><risdate>2006</risdate><volume>7</volume><issue>1</issue><spage>113</spage><epage>140</epage><pages>113-140</pages><issn>1465-1165</issn><eissn>1741-2757</eissn><abstract>The article suggests an explanation for seemingly diverse patterns of change in
domestic economic institutions following the establishment of Economic and Monetary
Union (EMU). It argues that EMU participants redesigned ill-fitting domestic fiscal
and wage-setting institutions in order to counter the anticipated destabilizing
effects of the ‘one size fits all’ monetary policy of the
European Central Bank (ECB). After outlining the argument, the article identifies
general economic and institutional conditions that are required for the use of
fiscal and wage-setting institutions as effective stabilizers in a monetary union.
It then undertakes a comparative assessment to detect country-specific mismatches
between anticipated needs and the available domestic economic institutions. Finally,
the article surveys institutional changes in 10 member states between the mid 1990s
and 2002 and shows that the observed institutional adjustments largely correspond to
the expected correction of initial mismatches.</abstract><cop>London, Thousand Oaks CA, New Delhi</cop><pub>SAGE Publications</pub><doi>10.1177/1465116506060914</doi><tpages>28</tpages><oa>free_for_read</oa></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1465-1165 |
| ispartof | European Union politics, 2006-03, Vol.7 (1), p.113-140 |
| issn | 1465-1165 1741-2757 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_59710844 |
| source | Worldwide Political Science Abstracts; SAGE Complete A-Z List |
| subjects | Economic and Monetary Union Economic stability Europe European Central Bank European Union Fiscal Policy Institutions Monetary Policy Policy Making Supranationalism Wage levels |
| title | Adjusting to EMU: The Impact of Supranational Monetary Policy on Domestic Fiscal and Wage-Setting Institutions |
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