Proposal for a Stabilisation Fund for the EMU

Bernard Delbecque

CEPS Papers from Centre for European Policy Studies

Abstract: This paper argues that it should be possible to complement Europe’s Economic and Monetary Union with an insurance-type shock absorption mechanism to increase the resilience of member countries to economic shocks and reduce output volatility. Such a mechanism would neither require the establishment of a central authority, nor would it lead to permanent transfers between countries. For this mechanism to become a reality, however, it would be necessary to overcome certain technical problems linked to the difficulty of anticipating correctly the position of an economy in the business cycle.

Pages: 15 pages
Date: 2013-10
New Economics Papers: this item is included in nep-cba, nep-eec, nep-ias and nep-mac
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eps:cepswp:8494

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