Impossible Macroeconomic Trinity: The Challenge to Economic Governance in the Eurozone

References

• Alesina, A., O. Blanchard, J. Gali, F. Giavazzi, and H. Uhlig. 2001. Defining a macroeconomic framework for the euro area. London: CEPR.
   Google Scholar
• Allsopp C.J., and D. Vines. 2000. Macroeconomic policy. Oxford Review of Economic Policy 16, no. 4: 1–32.
   Web of Science ®Google Scholar
• Allsopp, C.J., and D. Vines. 2005. The macroeconomic role of fiscal policy. Oxford Review of Economic Policy 21, no. 4: 485–508.
   Web of Science ®Google Scholar
• Allsopp, C., and D. Vines. 2007. Fiscal policy, labour markets, and the difficulties of intercountry adjustment within EMU. In The travails of the Eurozone, ed. D. Cobham. London: Palgrave.
   Google Scholar
• Allsopp, C., and D. Vines. 2008. Fiscal policy, intercountry adjustment and the real exchange rate. Chapter 13, European Commission.
   Google Scholar
• Bibow, J. 2012. The euro debt crisis and Germany’s euro trilemma. Working Paper No 21. Levy Economics Institute, Bard College.
   Google Scholar
• European Commission. 2004. EMU after 5 years. European Economy, Special Report. Brussels: European Commission.
   Google Scholar
• European Commission. 2006. Adjustment dynamics in the euro area. The EU economy 2006 review. Brussels: European Commission.
   Google Scholar
• European Commission. 2008. EMU@10: successes and challenges after ten years of Economic and Monetary Union. European Economy, Brussels: European Commission.
   Google Scholar
• HM Treasury. 2003. Fiscal stabilisation and EMU: a discussion paper. London: HM Treasury.
   Google Scholar
• Issing, O. 2002. On macroeconomic policy co-ordination in EMU. JCMS: Journal of Common Market Studies 40, no. 2: 345–358.10.1111/jcms.2002.40.issue-2
   Web of Science ®Google Scholar
• Issing, O. 2006. The euro: a currency without a state. BIS Review 23. Basel: Bank for International Settlements.
   Google Scholar
• Kirsanova, T., M. Satchi, D. Vines, and S. Wren-Lewis. 2007. Optimal fiscal policy rules in a monetary union. Journal of Money, Credit and Banking 39, no. 7: 1759–1784.10.1111/jmcb.2007.39.issue-7
   Web of Science ®Google Scholar
• Kirsanova, T., J. Stehn, and D. Vines. 2005. The interactions between fiscal policy and monetary policy. Oxford Review of Economic Policy 21: 532–564.10.1093/oxrep/gri031
   Web of Science ®Google Scholar
• Leith, C., and S. Wren-Lewis. 2004. Fiscal stabilisation in EMU: a survey of policy and design issues. March. London: Draft Report prepared for HM Treasury.
   Google Scholar
• Moscovici, P. 2015. Deepening economic and monetary union. Speech given at Bruegel in Brussels on 19 January, 2015.
   Google Scholar
• OECD. 2014. Economic outlook. November. Paris: OECD.
   Google Scholar
• Pisani-Ferry, J. 2002. Fiscal discipline and policy coordination in the eurozone: assessment and proposals. In Budgetary Policy in E(M)U. the Hague: Ministerie van Financien.
   Google Scholar
• Pisani-Ferry, J. 2012. The euro crisis and the new impossible trinity, http://www.bruegel.org/publications/publication-detail/publication/674-the-euro-crisis-and-the-new-impossible-trinity/.
   Google Scholar
• Reinhart, C., and K. Rogoff. 2009. This time is different: eight centuries of financial folly. Princeton, NJ: Princeton University Press.
   Google Scholar
• Sapir, A. 2012. Europe after the crisis: less or more role for nation states? Oxford Review of Economic Policy 27, no. 4: 608–619.
   Web of Science ®Google Scholar
• Stark, J. 2015. The historical and cultural differences that divide Europe’s union. Financial Times. February 11.
   Google Scholar
• Swedish Government. 2002. Stabilisation policy in the monetary union: summary of the report. The commission on stabilisation policy for full employment in the event of Sweden Joining the Monetary Union. Swedish government Official Reports SOU 2002:16. Stockholm: Swedish Government.
   Google Scholar
• Temin, P., and D. Vines. 2013. The leaderless economy: why the world economic system fell apart and how to fix it. Princeton, NJ: Princeton University Press.10.1515/9781400846641
   Google Scholar
• Vines, D. 2015. On concerted unilateralism: raising the global growth rate through macroeconomic policy coordination. Forthcoming in T. Bayoumi, S. Pickford, and P. Subacchi. Managing complexity: economic policy cooperation after the crisis. Washington, DC: Brookings Institution.
   Google Scholar
• Westaway, P. 2003. Modelling shocks and adjustment mechanisms in EMU. London: HM Treasury.
   Google Scholar
• Woodford, M. 2003. Interest and prices. Princeton, NJ: Princeton University Press.
   Google Scholar
• Wyplosz, C. 2005. Fiscal policy: institutions versus rules. National Institute Economic Review. 191: 64–78.
   Google Scholar