The EU's response to support the real economy during the economic crisis: an overview of Member States' recovery measures
Giuseppe Carone, Nicola Curci, Fabiana Pierini, Luis García Lombardero, Anita Halasz, Ariane Labat, Mercedes de Miguel Cabeza, Dominique Simonis, Emmanuelle Maincent, Jonas Fischer and Markus Schulte, European Commission
The EU's response to support the real economy during the economic crisis: an overview of Member States' recovery measures(2 MB)
Summary for non-specialists(86 kB)
This paper provides a preliminary assessment of the adequacy of Member States' recovery plans supporting the real economy - labour markets and vulnerable groups; investment; and businesses (but not financial sector support measures). It looks in particular at the time-consistency of the short-term measures designed to avert major dislocations of economic activity and assesses the compatibility of the short-term crisis response with the European Union's long-term policy objectives under the Lisbon strategy. The main finding is that the European Union's response to the crisis is strong and, at the current juncture, appears adequate and that measures being pursued under Member States' recovery plans are for the most part in line with the principles and guidelines enunciated in the European Economic Recovery Plan.
JEL classification E22, E62, E65, H54, O30, O40, O52, O57, Q28, Q48, R40, H81
(European Economy. Occasional Papers. 51. July 2009.
Brussels. 94pp. Tab. Graph. Bibliogr. )