2022/07/05 by Nicola Acocella, Acocella, Nicola
Economics, Econometrics and Finance · #European Monetary and Fiscal Policies
paper · doi:10.25428/1824-2979/009
openalex publication_date 2022/07/05 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/01
The paper deals first with the characters of unemployment and inflation and their trend in the EMU. Then it underlines that EMU’s institutions tend to reduce inflation to a minimum, while limiting fiscal interventions at the national and the European level. The policies implemented recently represent some kind of a novel line of conduct of the EU, as they introduce a rise in the EU budget, release some constraints to national fiscal policies and foresee issuance of common bonds. Judging from these policies a legitimate question is whether the pandemic has been a game-changer, as EU interventions represent some kind of a novel line of conduct of the EU. The issue then arises whether this novelty will be followed by a retreat to the course of rules preceding the pandemic (or, worse, by disintegration of the Union) or some kind of confirmation of the new course - even a relaunch - of the EU.