Fuest, ClemensIfo Institute, University of Munich and CESifo
Author
Neumann, DirkUCLouvain
Author
Peichl, AndreasZEW
Author
Abstract
According to this view a key issue was that some EMU member states lost access to private capital markets or were not far off losing it, so that their ability to let national stabilizers play their part was limited. [...]we consider a contingent version of the basic scheme, which is activated if the unemployment rate in a given member state is one percentage point higher than in one of the previous three years.
Dolls, M., Fuest, C., Neumann, D., & Peichl, A. (2016). A basic unemployment insurance scheme for the Euro area. DICE Report, 14(1), 55-60. https://hdl.handle.net/2078.5/172263 (Original work published 2016)