This book analyzes economic interdependence in the Euro Area. It offers expert estimates of the sign and size of economic spillovers. Moreover, the authors explore the impact of economic policy coordination on economic performance in the Euro Area. Among the many topics explored are the link between fiscal and monetary policies in the Euro Area and the coordination of fiscal policies and of structural reforms.

InhaltsangabeEconomic spillovers, structural reforms and policy coordination in the Euro Area: An overview.- Budgetary spillovers and short-term interest rates.- Budgetary spillovers and long-term interest rates.- Budgetary stabilisation and the level of public debt.- Spillovers from economic reform.- Macroeconomic and welfare effects of structural and budgetary policies: spillovers in the MSG3 model.- Have Europe's labour markets become more flexible? An exercise in measuring the relative flexibility of wages across countries and time.