Assessing next generation EU

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, Rome, Italy, 2021. Springer Proceedings in Business and Economics. Springer, 59 – 82. ISBN 9783031103049

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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
Official URL:	https://doi.org/10.1007/978-3-031-10302-5
Additional Information:	© 2022 The Author(s), under exclusive license to Springer Nature Switzerland AG
Divisions:	European Institute
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HJ Public Finance
Date Deposited:	12 Jul 2024 12:57
Last Modified:	11 Dec 2024 18:14
URI:	http://eprints.lse.ac.uk/id/eprint/124231

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