Research line 3: Macroeconomic imbalances and governance in economically integrated areas.

The focus of this line is to analyze those key elements that can guarantee a more appropriate frame for economic policies, particularly in those aspects related to prevention and correction of macroeconomic unbalances in a globalized world. More specifically, those unbalances taking place in regional integrated areas such as the Economic and Monetary Union will receive particular attention. The research will attempt, on the one hand, to identify deficiencies in the current coordination frame. On the other hand, it will provide an analysis of the changes proposed by the European Commission and the Van Rompuy working group. Finally, it tries to provide proposals for the improvement of the macroeconomic and financial governance in the Eurozone, which are topics considered by Challenge 6 of the Horizon 2020 program. This third line of research is divided in two sub-lines; i) External sustainability; and ii) Macroeconomic unbalances and growth.