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An Unemployment Insurance Scheme for the Euro Area

Mathias Dolls (), Clemens Fuest (), Dirk Neumann () and Andreas Peichl ()

VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association

Abstract: The Great Recession and the resulting European debt crisis revived a debate about deeper fiscal integration in the Eurozone. We discuss different alternatives how an unemployment insurance system for the euro area could be designed and run counterfactual simulations based on micro data to analyze the effectiveness of a basic scheme and a benefit extension program to act as an insurance device in the presence of asymmetric macroeconomic shocks. We find that a basic insurance scheme could be implemented with a relatively small annual budget of roughly 61 billion euros over the period 2008-2013. Net benefits would have stabilized incomes in particular in Cyprus, Estonia, Greece, Ireland, Portugal and Spain whereas Austria, Germany and the Netherlands would have been the largest net contributors.

JEL-codes: F55 H23 J65 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-eec and nep-ias
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc14:100572

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