A policymaker's guide to a Euro area stabilization fund

Etienne Farvaque and Florence Huart ()
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Florence Huart: EQUIPPE - Economie Quantitative, Intégration, Politiques Publiques et Econométrie - Université de Lille, Sciences et Technologies - Université de Lille, Sciences Humaines et Sociales - PRES Université Lille Nord de France - Université de Lille, Droit et Santé, LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique

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Abstract: In 2012, several reports were published advocating the creation of a genuine fiscal capacity at the European level, to strengthen the foundations of the Economic and Monetary Union (EMU) by helping member countries to adjust to asymmetric shocks. The design of a common stabilization fund should be well thought, though: what would be stabilized? When would transfers be paid? Would they be directed towards governments or individuals? How would they be financed? And would they help stabilize economies? We address these questions by outlining recent existing proposals, their features and their simulated stabilization effects. We finally underline the difficulties in implementing such a scheme.

Keywords: Federal transfers; Fiscal union; Fiscal federalism; European integration; Stabilization effects (search for similar items in EconPapers)
Date: 2016-08
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Citations: View citations in EconPapers (1)

Published in Economia politica, 2016, 34 (1), pp.11--30. ⟨10.1007/s40888-016-0038-y⟩

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Journal Article: A policymaker’s guide to a Euro area stabilization fund (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01526022

DOI: 10.1007/s40888-016-0038-y

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