Searching Under the Lamp-Post: The Evolution of Fiscal Surveillance

Mabbett, Deborah; Schelkle, Waltraud

doi:10.2139/ssrn.2434008

Cited by 27 publications

(16 citation statements)

References 17 publications

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“…As the crisis continued, however, in the absence of remedies the Commission was stuck with searching for solutions 'like the drunk who looks for his lost keys under the lamp post' because 'that is where the light is' (Mabbett and Schelkle 2014). As economic output performance deteriorated, the Commission made increasing numbers of exceptions and flexible adjustments for non-programme countries, in particular beginning in 2013.…”

Section: From Governing By Rules and Numbers To Greater Flexibilitymentioning

confidence: 99%

Reinterpreting the rules ‘by stealth’ in times of crisis: a discursive institutionalist analysis of the European Central Bank and the European Commission

Schmidt¹

2016

West European Politics

143

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Section: From Governing By Rules and Numbers To Greater Flexibilitymentioning

confidence: 99%

Reinterpreting the rules ‘by stealth’ in times of crisis: a discursive institutionalist analysis of the European Central Bank and the European Commission

Schmidt¹

2016

West European Politics

143

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“…By and large, the answer would seem to be that the EU will muddle through, adjusting its policies at the margin to cope with new contingencies as they arise, much as it has over the past five years (Lindblom 1959). Austerity is already being relaxed around the edges and it is likely that Greek debt will be restructured, at some cost to the creditor states, much as Ireland's promissory notes were in February 2013 (Mabbett and Schelkle 2014). The rhetorical fig leaf placed over the crisis is a call for 'more Europe' on which most governments seem to agree.…”

Section: Small Steps Have Been Taken To Allocate Losses Private Invementioning

confidence: 99%

Varieties of Capitalism and the Euro Crisis

Hall¹

2014

West European Politics

210

123

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This article examines the role played by varieties of capitalism in the Euro crisis, considering the origins of the crisis, its progression and the response to it. Deficiencies in the institutional arrangements governing the single currency are linked to economic doctrines of the 1990s. The roots of the crisis are linked to institutional asymmetries between political economies. Northern European economies equipped to operate export-led growth models suitable for success within a monetary union are joined to southern economies whose demand-led growth models were difficult to operate successfully without the capacity to devalue. The response to a tripartite crisis of confidence, debt and growth is explained in terms of the interaction of institutions, interests and ideas, and its importance for the future of European integration is explored.

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“…Indeed, we argue that the financial crisis has exerted pressures for the EU to move further beyond regulation. While Majone's work is the starting point, others have advanced a line of research arguing that the regulatory state is changing in important ways Jachtenfuchs 2010, 2014;Hallerberg 2014;Mabbett and Schelkle 2014;Schelkle 2009Schelkle , 2012Schelkle , 2014. Genschel and Jachtenfuchs (2014) have argued that the competences of the EU are migrating from regulation of markets, to regulation of fiscal and stabilization policies, to fiscal policies via stealth.…”

Section: The European Union As Regulatory Statementioning

confidence: 99%

Still a regulatory state? The European Union and the financial crisis

Caporaso

Kim

Durrett

et al. 2014

Journal of European Public Policy

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The European Union (EU) has been conceptualized as a regulatory state, i.e., an emerging polity that differs from the classic Westphalian state. Unable to engage in redistribution and stabilization, the EU has specialized in a range of regulatory functions related to market creation and management of externalities. We argue that the European financial crisis is pushing the EU to move beyond regulation. We explore the origins of and responses to the crisis, and examine the ways in which the crisis is creating pressures for stabilization and fiscal policy. Indeed, we argue that significant inroads into these areas have already been made and further changes in the direction of stabilization and fiscal policy are likely, though whether such competences are centralized or decentralized is an open question.

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Searching Under the Lamp-Post: The Evolution of Fiscal Surveillance

Cited by 27 publications

References 17 publications

Reinterpreting the rules ‘by stealth’ in times of crisis: a discursive institutionalist analysis of the European Central Bank and the European Commission

Reinterpreting the rules ‘by stealth’ in times of crisis: a discursive institutionalist analysis of the European Central Bank and the European Commission

Varieties of Capitalism and the Euro Crisis

Still a regulatory state? The European Union and the financial crisis

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