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Political legitimacy in a non-optimal currency area
[Arbeitspapier]
Körperschaftlicher Herausgeber
Freie Universität Berlin, FB Politik- und Sozialwissenschaften, Otto-Suhr-Institut für Politikwissenschaft Kolleg-Forschergruppe "The Transformative Power of Europe"
Abstract On the basis of a brief reconstruction of the causes and impacts of the Euro crisis, this paper explores, counterfactually
and hypothetically, whether the new Euro regime, insisting on fiscal austerity and supply-side
reforms, could have prevented the rise of the crisis or is able to deal with its... mehr
On the basis of a brief reconstruction of the causes and impacts of the Euro crisis, this paper explores, counterfactually
and hypothetically, whether the new Euro regime, insisting on fiscal austerity and supply-side
reforms, could have prevented the rise of the crisis or is able to deal with its disastrous economic and social
impact. A comparison with the likely impact of transfer-based Keynesian reflation suggests that, in both
cases, economic success is uncertain, while both approaches are likely to produce severely negative sideeffects.
In light of such dismal policy choices, attempts to politicize European election campaigns are more
likely to provoke unmanageable policy conflict than to overcome the input-oriented, democratic deficit of
European economic governance.... weniger
Thesaurusschlagwörter
Krise; Wirtschaftsentwicklung; Wirtschaftspolitik; Währungspolitik; EU-Politik; Geldpolitik; Finanzkrise; Währungsunion; Inflation; europäische Integration; Euro
Klassifikation
Europapolitik
Wirtschaftspolitik
Freie Schlagwörter
political legitimacy; democratic deficit
Sprache Dokument
Englisch
Publikationsjahr
2013
Erscheinungsort
Berlin
Seitenangabe
34 S.
Schriftenreihe
KFG Working Paper Series, 52
ISSN
1868-7601
Status
Veröffentlichungsversion; begutachtet (peer reviewed)
Lizenz
Deposit Licence - Keine Weiterverbreitung, keine Bearbeitung