02181nam a2200301 a 4500 1/51332 051115s2006 be u pdd 0 a0eng d 1016-8060 (print) 1725-3187 (online) ECFIN/000428-EN 33239 GR-PeUP ΚΕΤ Αλφαβητική σειρά Economic spillover and policy coordination in the Euro area / Klaus Weyerstrass...[et.al.] Brussels- Belgium: European Comission: Directorate-General for Economic and Financial Affairs, 2006. 296 σ.: πιν. 30 εκ. European Economy. Economic papers ; Economic Papers There is a broad consensus among economists that the increased interdependence that comes from sharing a common currency and a single monetary policy justifies some degree of economic policy coordination between euro area Member States. However, empirical studies have, thus far, offered inconclusive evidence regarding the comparative importance of different types of economic spillover. Accordingly, estimates of the welfare gains from economic policy coordination in the euro area have varied considerably. This study presents original research on the nature of economic interdependence under European Economic and Monetary Union. Its main contribution is to provide plausible estimates of the sign and size of economic spillover in the euro area and the welfare gains from economic policy coordination. These results are relevant for the European Commission's ongoing work on strengthening economic governance in the context of the Stability and Growth Pact and the Lisbon Strategy. Weyerstrass, Kalus. Jaenicke, Johannes. Neck, Reinhard. Haber, Gottfried. European Commission : Directorate-General for Economic and Financial Affairs. Economic Papers March 2006, No 246. European Economy. Economic papers ; 246. INST UNIPILB KET 20090310 EEEP 246 EEEP 246 NOLOAN 23 1 http://ec.europa.eu/economy_finance/publications/publication_summary764_en.htm