Codogno, Lorenzo and van den Noord, Paul (2022) Assessing next generation EU. In: Paganetto, Luigi, (ed.) Economic Challenges for Europe After the Pandemic - Proceedings of the XXXII Villa Mondragone International Economic Seminar, 2021. Springer Proceedings in Business and Economics. Springer Nature (Firm), pp. 59-82. ISBN 9783031103018
Full text not available from this repository.Abstract
The unprecedented fiscal package adopted by the European Council in the summer of 2020—dubbed Next Generation EU—was vital for the recovery of the euro area from the pandemic shock. However, our computations with a stylized macroeconomic model illustrate that an alternative approach, with ex ante risk sharing through the creation of a Eurobond and permanent fiscal capacity at the Centre, would have been at least as powerful, yet it would be more sustainable, automatic and timely.
| Item Type: | Book Section |
|---|---|
| Additional Information: | © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG. |
| Divisions: | LSE European Institute |
| Subjects: | J Political Science H Social Sciences > HB Economic Theory |
| Date Deposited: | 23 Nov 2022 14:48 |
| Last Modified: | 08 Apr 2024 04:48 |
| URI: | http://eprints.lse.ac.uk/id/eprint/117408 |
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