Bretton Woods, Brussels and Beyond: Redesigning the Institutions of Europe

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Publication Date May 2018
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Table of contents

Preface by Charles Wyplosz

1 Europe's future: The value of an institutional economics perspective by Nauro F. Campos and Jan-Egbert Sturm

Part I: Bretton Woods and European integration

2 What modern Europe can learn from Bretton Woods by Harold James

3 Political influences in IMF and World Bank operations: Lessons for the design of European institutions by Axel Dreher

4 The economic benefits from European integration: Lessons from the UK's EU sojourn by Nicholas Crafts

5 European Economic and Monetary Union: Past performance and future returns by Giuseppe Bertola

6 A critical perspective on future European integration by Harald Badinger

Part II: European institutions

7 The changing battle lines in the European Parliament by Simon Hix, Abdul Noury and Gerard Roland

8 Institutions and convergence in Europe: The case of Structural Funds by Sascha O. Becker, Peter H. Egger, and Maximilian von Ehrlich

9 An institutional innovation in the euro debt crisis: The ESM by Kari Korhonen

Part III: Financial institutions and labour mobility

10 The real costs of financial disintegration by Isabel Schnabel and Christian Seckinger

11 Shocks and risk sharing in the EMU: Lessons for Banking and Capital Market Union by Mathias Hoffmann, Egor Maslov, Bent E. Sorensen and Iryna Stewen

12 Austerity and migration in Europe by Christopher House, Christian Proebsting, and Linda Tesar

13 Labour mobility and the European Project by Davide Furceri and Prakash Loungani

Part IV: Monetary and fiscal union

14 The case for more fiscal risk sharing and coordination of fiscal and monetary policy by Jakob de Haan and Patrick Kosterink

15 Financial engineering will not stabilise an unstable euro area by Paul De Grauwe and Yuemei Ji

16 A euro area fiscal architecture by Phillipe Martin

17 The need for a fiscal capacity by Lars P. Feld

Part V: Redesigning euro area institutions

18 The European Monetary Fund and the euro experiment by Xavier Vives

19 Reforming Europe, the role of trust, and the cost of doing nothing by Clemens Fuest

VoxEU.org

VoxEU.org is a policy portal set up by the Centre for Economic Policy Research in conjunction with a consortium of national sites, including the Italian site LaVoce, the French site Telos and the Spanish site Sociedad Abierta. Vox aims to promote research-based policy analysis and commentary by leading scholars. The intended audience is economists in governments, international organisations, academia and the private sector as well as journalists specializing in economics, finance and business.Economists have discussed extensively what to do to reform the European Project and how, but have been broadly silent on who and when. Which institutions and rules are needed, and when? This eBook shows that such institutional questions, although seldomly raised, are of fundamental importance for the future of European integration.

One can no longer be sure whether Europe is just at a crossroads or on the brink. The multi-faceted economic crisis has deepened. It has also become a widespread political crisis. There is little disagreement that the European integration project needs to be reformed and that this needs to be done now, before the next economic downturn. The costs of doing nothing are large and rising, and the editors argue that we must think of innovative ways to make reform happen in a democratic, efficient, and sustainable manner.

Source Link https://voxeu.org/content/bretton-woods-brussels-and-beyond
Related Links
VoxEU.org: Blog, 28.05.18: Europe’s future: The value of an institutional economics perspective https://voxeu.org/article/europe-s-future-value-institutional-economics-perspective

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