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The Policy Framework in the Eurozone

Fiscal and Monetary Policy in the Eurozone: Theoretical Concepts and Empirical Evidence

ISBN: 978-1-78754-126-9, eISBN: 978-1-78743-793-7

Publication date: 13 May 2019

Abstract

In this chapter, the historical and theoretical evolution of the policy framework in Europe is presented. It begins from the early steps guided by the general principles of the Keynesian theory in open economies, goes through its revision after the 1970s and the fall of the Bretton Woods agreements, the creation of the European monetary system, and ends with a presentation of the theoretical underpinning that brought to the model on which the European monetary union was built on. The evolution of the economic theory is pieced together, in the light of the main historical and political facts that occurred. A first insight about the flaws of the Eurozone policy framework is provided.

Keywords

Citation

Canale, R.R. and Mirdala, R. (2019), "The Policy Framework in the Eurozone", Fiscal and Monetary Policy in the Eurozone: Theoretical Concepts and Empirical Evidence, Emerald Publishing Limited, Leeds, pp. 5-30. https://doi.org/10.1108/978-1-78743-793-720191002

Publisher

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Emerald Publishing Limited

Copyright © 2019 Emerald Publishing Limited