Assessing Next Generation EU

Lorenzo Codogno () and Paul Van den Noord
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Lorenzo Codogno: London School of Economics and Political Science

A chapter in Economic Challenges for Europe After the Pandemic, 2022, pp 59-82 from Springer

Abstract: Abstract The unprecedented fiscal package adopted by the European Council in the summer of 2020—dubbed Next Generation EU—was vital for the recovery of the euro area from the pandemic shock. However, our computations with a stylized macroeconomic model illustrate that an alternative approach, with ex ante risk sharing through the creation of a Eurobond and permanent fiscal capacity at the Centre, would have been at least as powerful, yet it would be more sustainable, automatic and timely.

Date: 2022
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Related works:
Working Paper: Assessing Next Generation EU (2021)
Working Paper: Assessing Next Generation EU (2021)
Working Paper: Assessing Next Generation EU (2020)
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DOI: 10.1007/978-3-031-10302-5_5

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