First RAstaNEWS Report20-06-2015
RAstaNEWS just issued its first Annual Report!
The report takes off from the assumption that rethinking the future of macroeconomic and monetary integration in Europe requires a substantial revision and integration of underlying macroeconomic models, and a new vision about what markets and policymakers can accomplish. In a nutshell, since its inception RAstaNEWS has aimed at providing two different but interrelated policy outputs to EU and Eurozone policymakers:
1) a proposal to reform EMU policies in a way that would contribute to decrease the likelihood of the occurrence of future crises, while at the same time supporting overall growth in the currency union;
2) a proposal to pinpoint or devise new early warning signals (EWS), in order to spot problematic disequilibria at the macro level, with the aim to act as early as possible to rebalance national economies or the Eurozone as a whole before a full-fledged crisis ensues.
In this Annual report, we will focus on the former proposal. A second Annual report will then aim at contributing to the EWS literature.