Monetary power and EMU: macroeconomic autonomy and adjustment in the eurozone
- Author
- Mattias Vermeiren (UGent)
- Organization
- Abstract
- This article examines the impact of the establishment of Economic and Monetary Union (EMU) and the introduction of the euro on the monetary power of its member states. Taking into consideration continuing capitalist variety among national political economies of the Eurozone, I examine the implications of EMU for the macroeconomic autonomy of different national models capitalism. Drawing on a comparative capitalism perspective, it is argued that the Eurozone’ coordinated market economies – Germany in particular – have gained much more from the introduction of the euro in terms of monetary power than the other models. This argument will be based on an analysis of two key dimensions of EMU’s macroeconomic governance regime: (1) exchange rate policymaking and (2) the management of balance-of-payments.
- Keywords
- INTEGRATION, INFLATION, POLICY, AREA, INSTITUTIONS, PREFERENCES, PERFORMANCE, CORPORATISM, CAPITALISM, ECONOMY
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-2120611
- MLA
- Vermeiren, Mattias. “Monetary Power and EMU: Macroeconomic Autonomy and Adjustment in the Eurozone.” REVIEW OF INTERNATIONAL STUDIES, vol. 39, no. 3, 2013, pp. 729–61, doi:10.1017/S0260210512000162.
- APA
- Vermeiren, M. (2013). Monetary power and EMU: macroeconomic autonomy and adjustment in the eurozone. REVIEW OF INTERNATIONAL STUDIES, 39(3), 729–761. https://doi.org/10.1017/S0260210512000162
- Chicago author-date
- Vermeiren, Mattias. 2013. “Monetary Power and EMU: Macroeconomic Autonomy and Adjustment in the Eurozone.” REVIEW OF INTERNATIONAL STUDIES 39 (3): 729–61. https://doi.org/10.1017/S0260210512000162.
- Chicago author-date (all authors)
- Vermeiren, Mattias. 2013. “Monetary Power and EMU: Macroeconomic Autonomy and Adjustment in the Eurozone.” REVIEW OF INTERNATIONAL STUDIES 39 (3): 729–761. doi:10.1017/S0260210512000162.
- Vancouver
- 1.Vermeiren M. Monetary power and EMU: macroeconomic autonomy and adjustment in the eurozone. REVIEW OF INTERNATIONAL STUDIES. 2013;39(3):729–61.
- IEEE
- [1]M. Vermeiren, “Monetary power and EMU: macroeconomic autonomy and adjustment in the eurozone,” REVIEW OF INTERNATIONAL STUDIES, vol. 39, no. 3, pp. 729–761, 2013.
@article{2120611,
abstract = {{This article examines the impact of the establishment of Economic and Monetary Union (EMU) and the introduction of the euro on the monetary power of its member states. Taking into consideration continuing capitalist variety among national political economies of the Eurozone, I examine the implications of EMU for the macroeconomic autonomy of different national models capitalism. Drawing on a comparative capitalism perspective, it is argued that the Eurozone’ coordinated market economies – Germany in particular – have gained much more from the introduction of the euro in terms of monetary power than the other models. This argument will be based on an analysis of two key dimensions of EMU’s macroeconomic governance regime: (1) exchange rate policymaking and (2) the management of balance-of-payments.}},
author = {{Vermeiren, Mattias}},
issn = {{0260-2105}},
journal = {{REVIEW OF INTERNATIONAL STUDIES}},
keywords = {{INTEGRATION,INFLATION,POLICY,AREA,INSTITUTIONS,PREFERENCES,PERFORMANCE,CORPORATISM,CAPITALISM,ECONOMY}},
language = {{eng}},
number = {{3}},
pages = {{729--761}},
title = {{Monetary power and EMU: macroeconomic autonomy and adjustment in the eurozone}},
url = {{http://doi.org/10.1017/S0260210512000162}},
volume = {{39}},
year = {{2013}},
}
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