Sustainable Growth in the EU. Challenges and Solutions

XXVIII Villa Mondragone International Economic Seminar - 2016

Luigi Paganetto editor

Springer 2017 - ISBN: 9783319520179

This book explores the diverse challenges facing the EU and in particular examines the impediments to financial stability and sustainable growth and how these can be overcome. Among the topics explored are the extent to which monetary union has favored real convergence, competitive imbalances in the eurozone, and the impacts of austerity measures.

Potential solutions are closely scrutinized, highlighting the need for linked fiscal, monetary, credit, and investment choices.

Opportunities for public and private investment in infrastructure, human capital, the environment, and innovation are emphasized, as is the role of fiscal stimulus targeting aggregate demand and output. Detailed attention is paid to the importance of coordination of macroeconomic policies and the scope for reforms in EMU design and EU governance. In this context, the proposals in the recent Five Presidents’ Report are assessed, along with other ideas regarding progressive steps aimed at closer economic, financial, and political union in the medium to long term. Readers will also find separate scrutiny of the Greek crisis and the effectiveness of the third economic adjustment programme. The book comprises a selection of contributions presented at the XXVIII Villa Mondragone International Economic Seminar.

Authors: Antonio Aquino, Agust Arnorsson, Massimo Bagarani, Riccardo Barbieri Hermitte, Frederick Campano, Jaime de Melo, Francesco Felici, Ernesto Felli, Gabriele Giudice, Thorvaldur Gylfason, Martino Lo Cascio, Enrico Marelli, Michael Mitsopoulos, Francesco Nucci, Luigi Paganetto, Theodore Pelagidis, Jonathan D. Ostry, Ottavio Ricchi, Dominick Salvatore, Pasquale Lucio Scandizzo, Marcello Signorelli, Cristian Tegami, Giovanni Tria, Jerzy Zabkowicz, Gylfi Zoega.