Fiscal policy co-ordination in the European Monetary Union: a preference-based explanation of institutional change
Gespeichert in:
1. Verfasser: | |
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Format: | Abschlussarbeit Buch |
Sprache: | English |
Veröffentlicht: |
Baden-Baden
Nomos
2007
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Ausgabe: | 1. Aufl. |
Schriftenreihe: | Aktuelle Materialien zur internationalen Politik
72 |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | 203 S. graph. Darst. |
ISBN: | 3832924280 9783832924287 |
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Table of Contents
Acknowledgements 11
A. Setting the Stage 13
1. Introduction 13
1.1 Creation and change of an institution: the Stability and Growth Pact 13
1.2 The structure of the book 15
2. Why EMU is different 18
2.1 Fiscal discipline as a collective action problem 18
2.2 The stabilising function of fiscal policy in the EMU 20
2.3 Mechanisms and actors in deficit control in the EMU 22
B. The Analytical Model 29
1. Theoretical foundations for the study of institutional change 29
1.1 Bridging the divide: integration theory and multi level governance 29
1.2 Three institutionalisms and their conceptual starting points 32
1.3 Competing explanations of institutional change 35
2. A preference based model of institutional change 41
2.1 Characteristics and objectives of the model 41
2.2 Actors of change in the multi level system 44
2.2.1 Acting for an unknown future 44
2.2.2 The member states in the multi level system 45
2.2.3 The European Commission as the member states' agent 47
2.2.4 European Central Bank, European Parliament,
European Court of Justice 51
3. Sources of change: Modelling national preferences 52
3.1 Basic definitions 52
3.1.1 Long term preferences and bargaining positions 52
3.1.2 Whose preferences? 54
3.2 The empirical determination of preferences 55
3.3 Material and immaterial variables in preference formation
in economic policy 57
5
3.4 Preferences and institutions 60
3.5 The preference model 61
4. The process of change: systemic intermediation of preferences 63
4.1 The limits of preference based explanations of institutional change 63
4.2 Characteristics of the bargaining system 63
5. Actors, sources and processes of change the model 64
C. Explaining Institutional Dynamics I:
The Stability and Growth Pact 67
1. Strengthening the fiscal rules in the EMU: Puzzles to solve 67
2. Actors and sources of change 68
2.1 Germany the pace setter 69
2.1.1 Interest groups and public goods in the EMU 69
2.1.2 The normative anchoring of the stability concern 72
2.1.3 Increasing politicisation and mediatisation 74
2.1.4 Catching the domestic veto players 75
2.1.5 A first experience with deficit control increases concerns 77
2.1.6 Germany's preference as a proxy for
other high credibility countries 79
2.2 The Pact's critics 81
2.2.1 Low credibility countries 81
2.2.2 France 83
2.2.3 The European Commission 85
3. The process of creating the Pact:
systemic intermediation of preferences 87
3.1 A formal model of the negotiations 88
3.2 The systemic intermediation of preferences 94
3.2.1 A supranational agent struggling for a task 94
3.2.2 Voting rights and timing of negotiations 96
3.2.3 Side payments 98
3.3 A Pact reshaped in the bargaining process "
4. Conclusion 10!
6
D. Explaining Institutional Dynamics II:
Opening a corset without undressing 105
1. Introduction 105
1.1 The Stability and Growth Pact under pressure 105
1.2 The Pact as an incomplete contract 107
2. Actors and sources of change: Member states and their preferences 110
2.1 Governments as stakeholders and decision makers 110
2.2 National preferences about what? 111
2.2.1 Seeking scope of action while avoiding costs Ill
2.2.2 The political economy of deficits tools, ends, side effects? 117
2.2.3 Political and institutional determinants of deficit preferences 120
2.2.4 Falling costs of institutional change 125
2.2.5 Keep the Pact and Change the Pact countries 127
3. The Process of Change: Four challenges to the rules 131
3.1 A formal model for relaxing the rules 131
3.2 The reprimand of Ireland in February 2001 137
3.2.1 The economics of the Irish case and the government's
preferences 137
3.2.2 Systemic intermediation:
Ecofin in unanimity and co ordination with the ECB 140
3.2.3 Long term consequences for deficit control in the EMU 144
3.3 Germany's exemption from the early warning procedure
in February 2002 146
3.3.1 The economics of the German case and the
government's preferences 146
3.3.2 Systemic intermediation: the politics of the Ecofin's silence 148
3.3.3 Flexibility reigns with the ECB's backing 152
3.4. Postponing the balanced budget objective in June 2003 153
3.4.1 France's preference for more flexibility 153
3.4.2 Systemic intermediation or: why the Seville summit gave in 154
3.5 Putting the Pact on hold in November 2003 157
3.5.1 France's preference for an Excessive Deficit 157
3.5.2 Germany's preference to avoid pro cyclical budget restrictions 159
3.5.3 Systemic intermediation: the Council vote and the ECJ ruling 161
7
4. Creeping institutional change an explanation 164
4.1 A systematic comparison of the cases 164
4.2 The Stability and Growth Pact as an incomplete contract revisited 167
4.2.1 Unclear procedural aspects and enforcement weaknesses 167
4.2.2 The changing rationale of deficit control 169
4.3 The return of electoral cycles, and positions on a stabilising fiscal policy 170
4.4 Strategic interaction under the systemic conditions of EMU 174
E. Summary of the Findings and Outlook 177
1. Studying change between grand bargains and policy making 177
2. Explaining the rise and fall of the Stability and Growth Pact 178
2.1 The creation of the Stability and Growth Pact 178
2.2 Creeping change leading to a formal reform 180
3. A predictable revision of the rules, but
credibility remains to be regained 182
F. References 189
8 |
adam_txt |
Table of Contents
Acknowledgements 11
A. Setting the Stage 13
1. Introduction 13
1.1 Creation and change of an institution: the Stability and Growth Pact 13
1.2 The structure of the book 15
2. Why EMU is different 18
2.1 Fiscal discipline as a collective action problem 18
2.2 The stabilising function of fiscal policy in the EMU 20
2.3 Mechanisms and actors in deficit control in the EMU 22
B. The Analytical Model 29
1. Theoretical foundations for the study of institutional change 29
1.1 Bridging the divide: integration theory and multi level governance 29
1.2 Three institutionalisms and their conceptual starting points 32
1.3 Competing explanations of institutional change 35
2. A preference based model of institutional change 41
2.1 Characteristics and objectives of the model 41
2.2 Actors of change in the multi level system 44
2.2.1 Acting for an unknown future 44
2.2.2 The member states in the multi level system 45
2.2.3 The European Commission as the member states' agent 47
2.2.4 European Central Bank, European Parliament,
European Court of Justice 51
3. Sources of change: Modelling national preferences 52
3.1 Basic definitions 52
3.1.1 Long term preferences and bargaining positions 52
3.1.2 Whose preferences? 54
3.2 The empirical determination of preferences 55
3.3 Material and immaterial variables in preference formation
in economic policy 57
5
3.4 Preferences and institutions 60
3.5 The preference model 61
4. The process of change: systemic intermediation of preferences 63
4.1 The limits of preference based explanations of institutional change 63
4.2 Characteristics of the bargaining system 63
5. Actors, sources and processes of change the model 64
C. Explaining Institutional Dynamics I:
The Stability and Growth Pact 67
1. Strengthening the fiscal rules in the EMU: Puzzles to solve 67
2. Actors and sources of change 68
2.1 Germany the pace setter 69
2.1.1 Interest groups and public goods in the EMU 69
2.1.2 The normative anchoring of the stability concern 72
2.1.3 Increasing politicisation and mediatisation 74
2.1.4 Catching the domestic veto players 75
2.1.5 A first experience with deficit control increases concerns 77
2.1.6 Germany's preference as a proxy for
other high credibility countries 79
2.2 The Pact's critics 81
2.2.1 Low credibility countries 81
2.2.2 France 83
2.2.3 The European Commission 85
3. The process of creating the Pact:
systemic intermediation of preferences 87
3.1 A formal model of the negotiations 88
3.2 The systemic intermediation of preferences 94
3.2.1 A supranational agent struggling for a task 94
3.2.2 Voting rights and timing of negotiations 96
3.2.3 Side payments 98
3.3 A Pact reshaped in the bargaining process "
4. Conclusion 10!
6
D. Explaining Institutional Dynamics II:
Opening a corset without undressing 105
1. Introduction 105
1.1 The Stability and Growth Pact under pressure 105
1.2 The Pact as an incomplete contract 107
2. Actors and sources of change: Member states and their preferences 110
2.1 Governments as stakeholders and decision makers 110
2.2 National preferences about what? 111
2.2.1 Seeking scope of action while avoiding costs Ill
2.2.2 The political economy of deficits tools, ends, side effects? 117
2.2.3 Political and institutional determinants of deficit preferences 120
2.2.4 Falling costs of institutional change 125
2.2.5 Keep the Pact and Change the Pact countries 127
3. The Process of Change: Four challenges to the rules 131
3.1 A formal model for relaxing the rules 131
3.2 The reprimand of Ireland in February 2001 137
3.2.1 The economics of the Irish case and the government's
preferences 137
3.2.2 Systemic intermediation:
Ecofin in unanimity and co ordination with the ECB 140
3.2.3 Long term consequences for deficit control in the EMU 144
3.3 Germany's exemption from the early warning procedure
in February 2002 146
3.3.1 The economics of the German case and the
government's preferences 146
3.3.2 Systemic intermediation: the politics of the Ecofin's silence 148
3.3.3 Flexibility reigns with the ECB's backing 152
3.4. Postponing the balanced budget objective in June 2003 153
3.4.1 France's preference for more flexibility 153
3.4.2 Systemic intermediation or: why the Seville summit gave in 154
3.5 Putting the Pact on hold in November 2003 157
3.5.1 France's preference for an Excessive Deficit 157
3.5.2 Germany's preference to avoid pro cyclical budget restrictions 159
3.5.3 Systemic intermediation: the Council vote and the ECJ ruling 161
7
4. Creeping institutional change an explanation 164
4.1 A systematic comparison of the cases 164
4.2 The Stability and Growth Pact as an incomplete contract revisited 167
4.2.1 Unclear procedural aspects and enforcement weaknesses 167
4.2.2 The changing rationale of deficit control 169
4.3 The return of electoral cycles, and positions on a stabilising fiscal policy 170
4.4 Strategic interaction under the systemic conditions of EMU 174
E. Summary of the Findings and Outlook 177
1. Studying change between grand bargains and policy making 177
2. Explaining the rise and fall of the Stability and Growth Pact 178
2.1 The creation of the Stability and Growth Pact 178
2.2 Creeping change leading to a formal reform 180
3. A predictable revision of the rules, but
credibility remains to be regained 182
F. References 189
8 |
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genre | (DE-588)4113937-9 Hochschulschrift gnd-content |
genre_facet | Hochschulschrift |
geographic | Europäische Union. Mitgliedsstaaten European Union countries Economic integration |
geographic_facet | Europäische Union. Mitgliedsstaaten European Union countries Economic integration |
id | DE-604.BV022239021 |
illustrated | Illustrated |
index_date | 2024-07-02T16:35:16Z |
indexdate | 2025-01-02T11:16:10Z |
institution | BVB |
isbn | 3832924280 9783832924287 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-015449976 |
oclc_num | 79447654 |
open_access_boolean | |
owner | DE-12 DE-706 DE-522 DE-2070s DE-188 DE-91 DE-BY-TUM |
owner_facet | DE-12 DE-706 DE-522 DE-2070s DE-188 DE-91 DE-BY-TUM |
physical | 203 S. graph. Darst. |
publishDate | 2007 |
publishDateSearch | 2007 |
publishDateSort | 2007 |
publisher | Nomos |
record_format | marc |
series | Aktuelle Materialien zur internationalen Politik |
series2 | Aktuelle Materialien zur internationalen Politik |
spelling | Schwarzer, Daniela Verfasser aut Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change Daniela Schwarzer 1. Aufl. Baden-Baden Nomos 2007 203 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Aktuelle Materialien zur internationalen Politik 72 Zugl.: Berlin, Freie Univ., Diss., 2005 Economic and Monetary Union Europäische Union (DE-588)5098525-5 gnd rswk-swf Europäische Union Stabilitätspakt (DE-588)4596397-6 gnd rswk-swf Geschichte 1997-2007 gnd rswk-swf Belastingpolitiek gtt EMU gtt Fiscal policy European Union countries Monetary policy European Union countries Politische Kooperation (DE-588)4515444-2 gnd rswk-swf Fiskalpolitik (DE-588)4071234-5 gnd rswk-swf Mitgliedsstaaten (DE-588)4170174-4 gnd rswk-swf Währungsunion (DE-588)4188829-7 gnd rswk-swf Europäische Union. Mitgliedsstaaten European Union countries Economic integration (DE-588)4113937-9 Hochschulschrift gnd-content Europäische Union (DE-588)5098525-5 b Währungsunion (DE-588)4188829-7 s Mitgliedsstaaten (DE-588)4170174-4 s Fiskalpolitik (DE-588)4071234-5 s Europäische Union Stabilitätspakt (DE-588)4596397-6 u Politische Kooperation (DE-588)4515444-2 s DE-604 DE-188 Geschichte 1997-2007 z Aktuelle Materialien zur internationalen Politik 72 (DE-604)BV000007965 72 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015449976&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Schwarzer, Daniela Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change Aktuelle Materialien zur internationalen Politik Economic and Monetary Union Europäische Union (DE-588)5098525-5 gnd Europäische Union Stabilitätspakt (DE-588)4596397-6 gnd Belastingpolitiek gtt EMU gtt Fiscal policy European Union countries Monetary policy European Union countries Politische Kooperation (DE-588)4515444-2 gnd Fiskalpolitik (DE-588)4071234-5 gnd Mitgliedsstaaten (DE-588)4170174-4 gnd Währungsunion (DE-588)4188829-7 gnd |
subject_GND | (DE-588)5098525-5 (DE-588)4596397-6 (DE-588)4515444-2 (DE-588)4071234-5 (DE-588)4170174-4 (DE-588)4188829-7 (DE-588)4113937-9 |
title | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change |
title_auth | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change |
title_exact_search | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change |
title_exact_search_txtP | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change |
title_full | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change Daniela Schwarzer |
title_fullStr | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change Daniela Schwarzer |
title_full_unstemmed | Fiscal policy co-ordination in the European Monetary Union a preference-based explanation of institutional change Daniela Schwarzer |
title_short | Fiscal policy co-ordination in the European Monetary Union |
title_sort | fiscal policy co ordination in the european monetary union a preference based explanation of institutional change |
title_sub | a preference-based explanation of institutional change |
topic | Economic and Monetary Union Europäische Union (DE-588)5098525-5 gnd Europäische Union Stabilitätspakt (DE-588)4596397-6 gnd Belastingpolitiek gtt EMU gtt Fiscal policy European Union countries Monetary policy European Union countries Politische Kooperation (DE-588)4515444-2 gnd Fiskalpolitik (DE-588)4071234-5 gnd Mitgliedsstaaten (DE-588)4170174-4 gnd Währungsunion (DE-588)4188829-7 gnd |
topic_facet | Economic and Monetary Union Europäische Union Europäische Union Stabilitätspakt Belastingpolitiek EMU Fiscal policy European Union countries Monetary policy European Union countries Politische Kooperation Fiskalpolitik Mitgliedsstaaten Währungsunion Europäische Union. Mitgliedsstaaten European Union countries Economic integration Hochschulschrift |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015449976&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
volume_link | (DE-604)BV000007965 |
work_keys_str_mv | AT schwarzerdaniela fiscalpolicycoordinationintheeuropeanmonetaryunionapreferencebasedexplanationofinstitutionalchange |