Assessing Next Generation EU
| Authors |
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| Publication date | 2022 |
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| Book title | Economic Challenges for Euopre After the Pandemic |
| Book subtitle | Proceedings of the XXXII Villa Mondragone International Economic Seminar, Rome, Italy, 2021 |
| ISBN |
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| ISBN (electronic) |
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| Series | Springer Proceedings in Business and Economics |
| Event | XXXII Villa Mondragone International Economic Seminar |
| Pages (from-to) | 59-82 |
| Publisher | Cham: Springer |
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| Abstract |
The chapter reviews the policies that have been adopted in the EU/Eurozone to mitigate the macroeconomic impact of the pandemic, including Next Generation EU. It also develops the case for an alternative approach in which, at least in the Eurozone, ex-post risk-sharing (whereby the EU funds transfers to the most hard-hit countries) is replaced with a system of ex-ante risk-sharing built into the governance framework of the Eurozone—with an essential role for a single safe asset. The chapter tentatively quantifies the differences in impact responses between these two approaches in the face of the pandemic shock, using a stylised calibrated macroeconomic model for the Eurozone.
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| Document type | Conference contribution |
| Language | English |
| Related publication | Assessing Next Generation EU Assessing Next Generation EU Next Generation EU: Europe needs pan-European investment |
| Published at | https://doi.org/10.1007/978-3-031-10302-5 |
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