Showing 1 - 10 of 11
The 2008-09 crisis has shown that some euro area member countries were unable to sufficiently stabilize their economies which has given rise to a debate about deeper fiscal integration in Europe. In this paper, we analyze the redistributive and stabilizing effects of two scenarios of fiscal...
Persistent link: https://www.econbiz.de/10013072139
This paper analyses the European budget and the position of the ten new member states. We argue that the EU budget … that the current EU budget setting is, at best, neutral with respect to the EU-wide long-term growth potential and may … actually hamper growth in the majority of the EU countries if the distortionary nature of taxation is taken into account …
Persistent link: https://www.econbiz.de/10012776902
EU's total population; and even though their economic output is much lower, it rises dynamically. New members' impact on … the EU policies has nevertheless been limited. This is due not only to the arcane voting rules within the EU, but also to … together and that their influence is thus fairly limited. We argue that as the EU seemingly lacks energy to implement further …
Persistent link: https://www.econbiz.de/10012768535
early 2000's both in quot;oldquot; and quot;newquot; EU member states. We estimate effects of labour market institutions on …;oldquot; and quot;newquot; EU members …
Persistent link: https://www.econbiz.de/10012769662
We analyze different options for the design of a common unemployment insurance system for the euro area (EA). We assess their effectiveness to act as an insurance device in the presence of asymmetric macroeconomic shocks. Running counterfactual simulations based on micro data for the period...
Persistent link: https://www.econbiz.de/10013011329
A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional architecture of the euro area. The introduction of an insolvency proce-dure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...
Persistent link: https://www.econbiz.de/10013048549
This contribution develops a blueprint for a European fiscal union. The proposal addresses the shortcomings of most other reform designs which do not offer a solution for insolvent or non-cooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...
Persistent link: https://www.econbiz.de/10013018079
We analyze different alternatives how a common unemployment insurance system for the euro area (EA) could be designed and assess their effectiveness to act as an insurance device in the presence of asymmetric macroeconomic shocks. Running counterfactual simulations based on micro data for the...
Persistent link: https://www.econbiz.de/10013043120
This paper develops a model of tax competition with three countries, which initially form a union where countries refrain from using different tax rates in different sectors of the economy. We study the impact of one country leaving the union. We show that the introduction of discriminatory...
Persistent link: https://www.econbiz.de/10012927512
This contribution develops a blueprint for a European fiscal union. We argue that a viable European fiscal union can be constructed without joint liability for public debt or a centralized government with a large common budget. Such a fiscal union should combine elements of market discipline...
Persistent link: https://www.econbiz.de/10012996428