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Making the Eurozone work : a risk-sharing reform of the European Stability Mechanism

Dosi, Giovanni; Minenna, Marcello; Roventini, Andrea; … - 2018

This work presents an original proposal for the reform of the Eurozone architecture according to an approach based on … risk sharing (aiming to reach in the long-term the mutualization of public debt). The proposal envisages a new role for the … new ESM would support the full transition from national debts to a single Eurozone public debt (e.g. Eurobonds) with a …

Persistent link: https://www.econbiz.de/10011873820

How the eurosytem's treatment of collateral in its open markets operations weakens fiscal discipline in the Eurozone (and what to do about it)

Buiter, Willem H. - 2005

Persistent link: https://www.econbiz.de/10013424714

A feasible unemployment-based shock absorber for the Euro area

Brandolini, Andrea; Carta, Francesca; D'Amuri, Francesco - 2015

This paper contributes to the debate on the design of a centralised fiscal tool absorbing country-specific negative shocks in the euro area. Based on theoretical insights, it identifies the broad characteristics that a shock absorber based on unemployment should have in order to be...

Persistent link: https://www.econbiz.de/10010484883

Joint debt arrangements in EMU: from NextGenEU to Eurobonds

Spurga, Simonas Algirdas; Šreiberytė, Emilė - 2021

Persistent link: https://www.econbiz.de/10012520497

Implementing the golden rule for public investment in Europe : safeguarding public investment and supporting the recovery

Truger, Achim - 2015

Most parts of the Euro area have seen seven years of deep economic crisis. The strategy of tightening the fiscal constraints of the SGP has driven many member states into austerity. In contrast, the golden rule of public investment proposed in this study would be one important element of the...

Persistent link: https://www.econbiz.de/10011336549