The euro area crisis: need for a supranational fiscal risk sharing mechanism?

DOI10.1007/S11079-015-9347-YMaRDI QIDQ2416136zbMATH OpenOpenAlexFDO

Authors Davide Furceri, Aleksandra Zdzienicka

Publication date 23 May 2019

Published in Open Economies Review (Search for Journal in Brave)

Full work available at URL http://www.imf.org/external/pubs/cat/longres.aspx?sk=40964

zbMATH Keywords

consumption smoothing channelsfiscal unionrisk sharing mechanisms

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• Making the Eurozone work: a risk-sharing reform of the European stability mechanism
• External imbalances and fiscal fragility in the euro area
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• National macroprudential policies in the euro area: flexibility vs. supervision
• Sovereign risk zones in Europe during and after the debt crisis
• Monetary policy, bank bailouts and the sovereign-bank risk nexus in the euro area
• EUROPEAN FISCAL DISCIPLINE BEFORE AND AFTER EMU: CRASH DIET OR PERMANENT WEIGHT LOSS?

Cites work

• Are output fluctuations transitory?
• Business Cycles and the Asset Structure of Foreign Trade
• Convergence of EMU equity portfolios
• Federal Fiscal Constitutions: Risk Sharing and Moral Hazard

Cited in

(5)

• 50 years of capital mobility in the eurozone: breaking the Feldstein-Horioka puzzle
• Fiscal stabilization in the United States: lessons for monetary unions
• Macroeconomic stabilisation properties of a euro area unemployment insurance scheme
• EMU stability: direct and indirect risk sharing
• Making the Eurozone work: a risk-sharing reform of the European stability mechanism

Describes a project that uses

Uses Software

• xtabond2
• Stata

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