Karajvanov, Alexander K.; Mojon, Benoît; Silva, Luiz … - National Bureau of Economic Research - 2024
We model a reinsurance mechanism for the national unemployment insurance programs of euro area member states. The risk …-sharing scheme we analyze is designed to smooth country-level unemployment risk and expenditures around each country's median level … of the euro area member states' unemployment expenditures risk in the aftermath of the 2009 sovereign debt crisis if …