K eynes and the International Clearing Union
A Possible Model for Eurozone Reform
Bibliographic Data
| ID | 7876262 |
|---|---|
| Authors | Philip B Whyman (0000-0002-3926-1019, University of Lancashire, corresponding author) |
| Year | 2015 |
| Volume | 53 |
| Issue | 2 |
| Pages | 399-415 |
| Publication date | 2015-03-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | JCMS Journal of Common Market Studies (JOURNAL) |
| Journal identifiers | ISSN: 0021-9886 • E-ISSN: 1468-5965 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/jcms.12180 |
| OpenAlex | W1833692181 |
| Language | EN |
| Citations received | 3 |
| References cited | 16 |
Economic and monetary union in E urope, as currently constituted, has a number of structural weaknesses. Large, persistent international payments imbalances necessitate deficit nations to deflate their economies or squeeze social wages in order to restore competitiveness. Surplus nations accrue reserves, with little pressure to maintain related contribution to spending power in the real economy. The asymmetric treatment of credit and debit nations reduces aggregate demand in the eurozone. This article examines a solution, first proposed by J ohn M aynard K eynes, whereby symmetrical treatment of balance of payments transactions may promote economic growth and higher levels of employment. It outlines the key features of the system and highlights the relevance of the solution to the issues faced by the eurozone
Balance of payments · Clearing · Economic and monetary union · Economic policy · Economics · European union · International economics · Monetary economics · Order (exchange · Payment · Economic Theory and Policy · European Monetary and Fiscal Policies · Finance · Global Financial Crisis and Policies
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,38 |
| Citation span | 2018 - 2023 (6) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |