Publication
Oct 2013
This paper argues that it should be possible to complement Europe’s Economic and Monetary Union (EMU) with an insurance-type shock absorption mechanism to increase the resilience of member countries to economic shocks and reduce output volatility. The author contends that for such a mechanism to become a reality, it is necessary to overcome certain technical problems linked to the difficulty of anticipating the position of an economy in the business cycle.
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English (PDF, 15 pages, 276 KB) |
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Author | Bernard Delbecque |
Series | CEPS Working Documents |
Issue | 385 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2013 Centre for European Policy Studies (CEPS) |