Michele Chang
Biographic Data
| ID | 3743919 |
|---|---|
| NAME | Michele Chang |
| GIVEN NAMES | Michele |
| FAMILY NAME | Chang |
| SIGNATURE | CHANG M |
| AFFILIATIONS | College of Europe |
| ORCID | 0000-0002-8275-8119 |
| VERIFIED | Yes |
| TOTAL WORKS | 16 |
| TOTAL CITATIONS | 78 |
| AUTHOR COUNT | 15 |
| EDITOR COUNT | 1 |
| FIRST PUBLICATION YEAR | 2002 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 4 |
Might bigger be better? How European Union competition policy became geopolitical
The European Union’s Competition Policy (EUCP) faces new challenges in the geopolitical age. Several modifications to EUCP have been adopted or proposed over the past half decade, even though the policy area has long been viewed as a bedrock of the single market under the purview of the Commission, and actively defended by both Commission officials and a range of member state governments. This article applies elements of liberal intergovernmental…
From Menace to Mundane: Moral Hazard and the Politics of the European Central Bank's Government Bond Purchases
During the Eurozone's sovereign debt crisis, the ideational consensus that shaped the foundation of Economic and Monetary Union (EMU) was destabilized by disagreement on unconventional monetary policies (UMPs), specifically government bond purchases. In the ECB's 2021 strategy review, however, UMPs were confirmed as standard elements of the European Central Bank's (ECB) toolbox. What happened? One argument frequently presented to question the leg…
The Letta and Draghi Reports: Economic Efficiency Versus Political Exigency
The Art of Compromise: Belgium as the Bridge between Germany and France
This contribution applies the theoretical framework developed by Schoeller and Falkner (this issue) to the case of Belgium. First, it examines Belgium’s preferences and the status quo before and after the financial crisis, juxtaposed against Germany’s preferred outcomes. Belgium has traditionally favoured more integration, leading to Belgium’s strategy of co-shaping and pace-setting in regards to monetary integration through persuasion, cultivati…
Sui generis no more? The ECB’s second decade
At the start of Economic and Monetary Union (EMU), the ECB’s sui generis nature as one of the most independent central banks of an entity lacking political union evoked concerns that it would be both too constrained (limited mandate) and enjoy too much discretion (limited ex-post accountability) in comparison to central banks like the US Federal Reserve. Were these concerns justified? Using a principal-agent framework, this contribution contrasts…
The Political Economy of Adjustment Throughout and Beyond the Eurozone Crisis: What Have We Learned?
This volume focuses on the aftermath of the euro crisis and whether the reforms have brought about lasting changes to the economic and political structures of the crisis countries or if the changes were short-term and easily abandoned post-bailout and post-recovery. Starting with an analysis of the state of euro area governance at the onset of the crisis and the ensuing reforms, the book considers structural conditions as well as those specific t…
Political Economy of Adjustment Throughout and Beyond the Eurozone Crisis: What Have We Learned?
The (Ever) Incomplete Story of Economic and Monetary Union
This article applies the governance typology used in this special issue to the evolution of euro area governance. The article begins with a description of Economic and Monetary Union’s original governance structure, with third order governance (shared norms) present in varying degrees in monetary, financial and fiscal governance. While a shared consensus on the importance of an independent central bank to pursue price stability allowed for the cr…
All in: Market expectations of eurozone integrity in the sovereign debt crisis
The behaviour of sovereign bond investors stands at the heart of the euro area debt crisis. By pushing upward the yields on the government debts of member states standing in the eurozone's periphery, investors caused, in a self-fulfilling way, the crisis that ultimately threatened the eurozone's integrity and the euro's survival. So how do we explain the behaviour of market investors before, during and after the eurozone's sovereign debt crisis? …
Fiscal Policy Coordination and the Future of the Community Method
The global financial and sovereign debt crises led to the creation of numerous new agreements and institutions to contain the current crisis and prevent future ones. These measures reinforce the historical trend towards the predominance of intergovernmental decision-making in economic and monetary union (EMU), going so far as to re-intergovernmentalize cooperation that had previously been decided upon by the Community method. Using principal–agen…
Understanding the rules of European economic governance: Economics, politics, and wishful thinking
Marco Buti, Servaas Deroose, Vitor Gaspar, and Joa o Nogueira Martins, eds. The Euro: The First Decade (Cambridge University Press 2010) Kenneth Dyson and Lucia Quaglia, European Economic Governance and Policies Volumes I and II: Commentary on Key Historical and Institutional Documents (Oxford University Press, 2010) Dermot Hodson, Governing the Euro Area in Good Times and Bad (Oxford University Press, 2011) Martin Heipertz and Amy Verdun, Ruling…
The Services Directive: Trojan Horse or White Knight
The European Union’s internal market has been at the heart of the integration process since the Treaty of Rome. The 2004 Services draft Directive (known as the Bolkestein proposal) launched an avalanche of protest despite substantial purported economic gains. A proper appreciation of the Services Directive requires a tri‐disciplinary approach, which we intend to provide. It became a lightning rod for criticism and a rallying cry for those opposin…
Drawing from Negative Space: New Ways of Seeing Across the Client-Consultant Divide
Focusing on the client-consultant relationship, well honed, but perhaps overly so, this paper aims to shed light on the conditions that at once streamline and challenge our collaborations. To do so, we borrow a page from the visual arts; namely an experimental method of representation called negative space drawing. In both its aim (to create a picture from a new perspective) and challenge (to shake off the preconceived notions that limit us) draw…
Reforming the Stability and Growth Pact: Size and Influence in EMU Policymaking
Size has affected the economic interests and policies of eurozone countries and has led to the formation of ‘alliances’ bringing together both states and EU institutions. The focus here is particularly on the Stability and Growth Pact, which is designed to protect the integrity of Economic and Monetary Union. Prior to reforms agreed in 2005, the Pact created deep rifts, as larger states, notably France and Germany, repeatedly violating its terms,…
Realigning Interests: Crisis and Credibility in European Monetary Integration
The Logic of Collective Responsibility in European Monetary Integration
Although European Monetary Union led to the creation of one of the world's most independent central banks, politics has not been removed from monetary integration. The European Central Bank's primary claim to legitimacy rests with its ability to deliver low inflation and presumably higher growth. Its independence may be insufficient for this task, making its relationship with political institutions like the Euro-12 and European Parliament more im…
Fiscal Policy Coordination and the Future of the Community Method
The global financial and sovereign debt crises led to the creation of numerous new agreements and institutions to contain the current crisis and prevent future ones. These measures reinforce the historical trend towards the predominance of intergovernmental decision-making in economic and monetary union (EMU), going so far as to re-intergovernmentalize cooperation that had previously been decided upon by the Community method. Using principal–agen…
All in: Market expectations of eurozone integrity in the sovereign debt crisis
The behaviour of sovereign bond investors stands at the heart of the euro area debt crisis. By pushing upward the yields on the government debts of member states standing in the eurozone's periphery, investors caused, in a self-fulfilling way, the crisis that ultimately threatened the eurozone's integrity and the euro's survival. So how do we explain the behaviour of market investors before, during and after the eurozone's sovereign debt crisis? …
Reforming the Stability and Growth Pact: Size and Influence in EMU Policymaking
Size has affected the economic interests and policies of eurozone countries and has led to the formation of ‘alliances’ bringing together both states and EU institutions. The focus here is particularly on the Stability and Growth Pact, which is designed to protect the integrity of Economic and Monetary Union. Prior to reforms agreed in 2005, the Pact created deep rifts, as larger states, notably France and Germany, repeatedly violating its terms,…
Sui generis no more? The ECB’s second decade
At the start of Economic and Monetary Union (EMU), the ECB’s sui generis nature as one of the most independent central banks of an entity lacking political union evoked concerns that it would be both too constrained (limited mandate) and enjoy too much discretion (limited ex-post accountability) in comparison to central banks like the US Federal Reserve. Were these concerns justified? Using a principal-agent framework, this contribution contrasts…
From Menace to Mundane: Moral Hazard and the Politics of the European Central Bank's Government Bond Purchases
During the Eurozone's sovereign debt crisis, the ideational consensus that shaped the foundation of Economic and Monetary Union (EMU) was destabilized by disagreement on unconventional monetary policies (UMPs), specifically government bond purchases. In the ECB's 2021 strategy review, however, UMPs were confirmed as standard elements of the European Central Bank's (ECB) toolbox. What happened? One argument frequently presented to question the leg…
The Services Directive: Trojan Horse or White Knight
The European Union’s internal market has been at the heart of the integration process since the Treaty of Rome. The 2004 Services draft Directive (known as the Bolkestein proposal) launched an avalanche of protest despite substantial purported economic gains. A proper appreciation of the Services Directive requires a tri‐disciplinary approach, which we intend to provide. It became a lightning rod for criticism and a rallying cry for those opposin…
Drawing from Negative Space: New Ways of Seeing Across the Client-Consultant Divide
Focusing on the client-consultant relationship, well honed, but perhaps overly so, this paper aims to shed light on the conditions that at once streamline and challenge our collaborations. To do so, we borrow a page from the visual arts; namely an experimental method of representation called negative space drawing. In both its aim (to create a picture from a new perspective) and challenge (to shake off the preconceived notions that limit us) draw…
The Logic of Collective Responsibility in European Monetary Integration
Although European Monetary Union led to the creation of one of the world's most independent central banks, politics has not been removed from monetary integration. The European Central Bank's primary claim to legitimacy rests with its ability to deliver low inflation and presumably higher growth. Its independence may be insufficient for this task, making its relationship with political institutions like the Euro-12 and European Parliament more im…
The (Ever) Incomplete Story of Economic and Monetary Union
This article applies the governance typology used in this special issue to the evolution of euro area governance. The article begins with a description of Economic and Monetary Union’s original governance structure, with third order governance (shared norms) present in varying degrees in monetary, financial and fiscal governance. While a shared consensus on the importance of an independent central bank to pursue price stability allowed for the cr…
Might bigger be better? How European Union competition policy became geopolitical
The European Union’s Competition Policy (EUCP) faces new challenges in the geopolitical age. Several modifications to EUCP have been adopted or proposed over the past half decade, even though the policy area has long been viewed as a bedrock of the single market under the purview of the Commission, and actively defended by both Commission officials and a range of member state governments. This article applies elements of liberal intergovernmental…
The Letta and Draghi Reports: Economic Efficiency Versus Political Exigency
Understanding the rules of European economic governance: Economics, politics, and wishful thinking
Marco Buti, Servaas Deroose, Vitor Gaspar, and Joa o Nogueira Martins, eds. The Euro: The First Decade (Cambridge University Press 2010) Kenneth Dyson and Lucia Quaglia, European Economic Governance and Policies Volumes I and II: Commentary on Key Historical and Institutional Documents (Oxford University Press, 2010) Dermot Hodson, Governing the Euro Area in Good Times and Bad (Oxford University Press, 2011) Martin Heipertz and Amy Verdun, Ruling…
Realigning Interests: Crisis and Credibility in European Monetary Integration
The Logic of Collective Responsibility in European Monetary Integration
Although European Monetary Union led to the creation of one of the world's most independent central banks, politics has not been removed from monetary integration. The European Central Bank's primary claim to legitimacy rests with its ability to deliver low inflation and presumably higher growth. Its independence may be insufficient for this task, making its relationship with political institutions like the Euro-12 and European Parliament more im…
Realigning Interests: Crisis and Credibility in European Monetary Integration
Reforming the Stability and Growth Pact: Size and Influence in EMU Policymaking
Size has affected the economic interests and policies of eurozone countries and has led to the formation of ‘alliances’ bringing together both states and EU institutions. The focus here is particularly on the Stability and Growth Pact, which is designed to protect the integrity of Economic and Monetary Union. Prior to reforms agreed in 2005, the Pact created deep rifts, as larger states, notably France and Germany, repeatedly violating its terms,…
Drawing from Negative Space: New Ways of Seeing Across the Client-Consultant Divide
Focusing on the client-consultant relationship, well honed, but perhaps overly so, this paper aims to shed light on the conditions that at once streamline and challenge our collaborations. To do so, we borrow a page from the visual arts; namely an experimental method of representation called negative space drawing. In both its aim (to create a picture from a new perspective) and challenge (to shake off the preconceived notions that limit us) draw…
The Services Directive: Trojan Horse or White Knight
The European Union’s internal market has been at the heart of the integration process since the Treaty of Rome. The 2004 Services draft Directive (known as the Bolkestein proposal) launched an avalanche of protest despite substantial purported economic gains. A proper appreciation of the Services Directive requires a tri‐disciplinary approach, which we intend to provide. It became a lightning rod for criticism and a rallying cry for those opposin…
Understanding the rules of European economic governance: Economics, politics, and wishful thinking
Marco Buti, Servaas Deroose, Vitor Gaspar, and Joa o Nogueira Martins, eds. The Euro: The First Decade (Cambridge University Press 2010) Kenneth Dyson and Lucia Quaglia, European Economic Governance and Policies Volumes I and II: Commentary on Key Historical and Institutional Documents (Oxford University Press, 2010) Dermot Hodson, Governing the Euro Area in Good Times and Bad (Oxford University Press, 2011) Martin Heipertz and Amy Verdun, Ruling…
Fiscal Policy Coordination and the Future of the Community Method
The global financial and sovereign debt crises led to the creation of numerous new agreements and institutions to contain the current crisis and prevent future ones. These measures reinforce the historical trend towards the predominance of intergovernmental decision-making in economic and monetary union (EMU), going so far as to re-intergovernmentalize cooperation that had previously been decided upon by the Community method. Using principal–agen…
All in: Market expectations of eurozone integrity in the sovereign debt crisis
The behaviour of sovereign bond investors stands at the heart of the euro area debt crisis. By pushing upward the yields on the government debts of member states standing in the eurozone's periphery, investors caused, in a self-fulfilling way, the crisis that ultimately threatened the eurozone's integrity and the euro's survival. So how do we explain the behaviour of market investors before, during and after the eurozone's sovereign debt crisis? …
The (Ever) Incomplete Story of Economic and Monetary Union
This article applies the governance typology used in this special issue to the evolution of euro area governance. The article begins with a description of Economic and Monetary Union’s original governance structure, with third order governance (shared norms) present in varying degrees in monetary, financial and fiscal governance. While a shared consensus on the importance of an independent central bank to pursue price stability allowed for the cr…
The Political Economy of Adjustment Throughout and Beyond the Eurozone Crisis: What Have We Learned?
This volume focuses on the aftermath of the euro crisis and whether the reforms have brought about lasting changes to the economic and political structures of the crisis countries or if the changes were short-term and easily abandoned post-bailout and post-recovery. Starting with an analysis of the state of euro area governance at the onset of the crisis and the ensuing reforms, the book considers structural conditions as well as those specific t…
Political Economy of Adjustment Throughout and Beyond the Eurozone Crisis: What Have We Learned?
Sui generis no more? The ECB’s second decade
At the start of Economic and Monetary Union (EMU), the ECB’s sui generis nature as one of the most independent central banks of an entity lacking political union evoked concerns that it would be both too constrained (limited mandate) and enjoy too much discretion (limited ex-post accountability) in comparison to central banks like the US Federal Reserve. Were these concerns justified? Using a principal-agent framework, this contribution contrasts…
The Art of Compromise: Belgium as the Bridge between Germany and France
This contribution applies the theoretical framework developed by Schoeller and Falkner (this issue) to the case of Belgium. First, it examines Belgium’s preferences and the status quo before and after the financial crisis, juxtaposed against Germany’s preferred outcomes. Belgium has traditionally favoured more integration, leading to Belgium’s strategy of co-shaping and pace-setting in regards to monetary integration through persuasion, cultivati…
Might bigger be better? How European Union competition policy became geopolitical
The European Union’s Competition Policy (EUCP) faces new challenges in the geopolitical age. Several modifications to EUCP have been adopted or proposed over the past half decade, even though the policy area has long been viewed as a bedrock of the single market under the purview of the Commission, and actively defended by both Commission officials and a range of member state governments. This article applies elements of liberal intergovernmental…
From Menace to Mundane: Moral Hazard and the Politics of the European Central Bank's Government Bond Purchases
During the Eurozone's sovereign debt crisis, the ideational consensus that shaped the foundation of Economic and Monetary Union (EMU) was destabilized by disagreement on unconventional monetary policies (UMPs), specifically government bond purchases. In the ECB's 2021 strategy review, however, UMPs were confirmed as standard elements of the European Central Bank's (ECB) toolbox. What happened? One argument frequently presented to question the leg…
The Letta and Draghi Reports: Economic Efficiency Versus Political Exigency
Political science (14 works) · Economics (13 works) · Law (11 works) · Law (10 works) · European Union Policy and Governance (9 works) · Politics (9 works) · European union (8 works) · Political economy (8 works) · European Monetary and Fiscal Policies (7 works) · Global Financial Crisis and Policies (7 works)