From the European Monetary Union to a euro-bancor: a stock-flow consistent assessment

Mazier, Jacques y Valdecantos, Sebastián (2019). From the European Monetary Union to a euro-bancor: a stock-flow consistent assessment. European Journal of Economics and Economic Policies: Intervention, 16(1), 8-26. ISSN 2052-7764. https://doi.org/10.4337/ejeep.2019.0043

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Resumen/Abstract

The crisis of the euro area has questioned the fairness, sustainability and viability of the current setting of the European Monetary Union (EMU). In this article we use a four-country stock-flow consistent (SFC) model in the tradition of Godley/Lavoie (2007a) to examine to what extent an adaptation to Europe of Keynes's plan of a clearing union with bancor balances could help reduce the imbalances that, at least in part, drove the eurozone into crisis. Our simulation experiments suggest that the implementation of Keynes's ideas may conduct European countries to a stronger and more sustainable growth cycle.

Tipo de Documento: Artículo
Autores:
Publicación/Revista: European Journal of Economics and Economic Policies: Intervention
Editorial: Edward Elgar Publishing
Fechas:
  • Publicado: Abril 2019
  • Aceptado: 22 Julio 2018
  • Enviado para publicación: 16 Noviembre 2017
Palabras Clave: Unión Monetaria, Sistema Monetario, Euromercado, Bancor, Clearing Union, Unión Europea
Filiación: Facultad de Cs. Económicas y Sociales > Centro de Inv. Económicas y Sociales > Grupo Análisis Industrial
Google Scholar: Ver citas en Google Académico
URI: http://nulan.mdp.edu.ar/id/eprint/3144
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