Showing 1 - 7 of 7
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 noncooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...
Persistent link: https://www.econbiz.de/10011300749
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/10010425498
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 procedure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...
Persistent link: https://www.econbiz.de/10010394484
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/10010211947
This paper discusses the introduction of new own resources to finance the EU budget. Currently roughly two thirds of … criticised for leading to political debates that emphasise the cost of EU spending rather than on the benefits, and for … contributing to the framing of discussions on the EU budget in terms of net balances, rather than value added through common …
Persistent link: https://www.econbiz.de/10012285575
trade policy scenarios that may arise from new geopolitical risks. We describe the EU’s recent decline in importance as an … international trading partner, while for the EU itself global trade dependency has increased. We show that this dependence is highly … economic impact of several policy-driven de-globalization scenarios for Europe, for individual EU member states, different …
Persistent link: https://www.econbiz.de/10014496576
From the earliest announcement of the European Green Deal, the current EU political cycle has been defined by an … engage stakeholders, including various external shocks, the EU has put forward and largely passed an unprecedented … legislative agenda, which was meant to have, and is having, deep impacts on the EU economy and society at large. Much has changed …
Persistent link: https://www.econbiz.de/10014496855