Chapter

Economic trade-offs

André Sapir, Philippe Aghion, Giuseppe Bertola, Martin Hellwig, Jean Pisani-Ferry, Dariusz Rosati, José Viñals, Helen Wallace, Marco Buti, Mario Nava and Peter M. Smith

in An Agenda for a Growing Europe

Published in print March 2004 | ISBN: 9780199271481
Published online July 2005 | e-ISBN: 9780191602573 | DOI: http://dx.doi.org/10.1093/0199271488.003.0005
 Economic trade-offs

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This chapter analyses trade-offs or complementarities in the relationship between the EU’s three main economic objectives: growth, stability, and cohesion. It examines how trade-offs and complementarities can be improved for higher sustained growth in a macroeconomically stable and cohesive enlarged union. Despite the significant progress made towards economic and monetary integration, the EU economic system was unable to achieve satisfactory growth performance. However, a high degree of cohesion has been maintained and high macroeconomic stability achieved.

Keywords: European Union; economic performance; growth; macroeconomic stability; cohesion; trade-off; complementarities

Chapter.  3502 words. 

Subjects: Economic Systems

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