The journal Intereconomics, published bi-monthly by CEPS and the Leibniz Information Centre for Economics (ZBW), features articles dealing with economic and social policy issues affecting Europe. Each issue contains a Forum section offering an in-depth exploration of a selected topic. All contributions to the Forum section in each issue, as well as the Editorial, are available for free downloading from the CEPS website at the links below (for full content, see www.intereconomics.eu).
Abstarct: With disparities in national unemployment rates reaching record levels, the debate on fiscal stabilisers in Europe has gained new momentum. Can a European unemployment insurance scheme help to absorb asymmetric shocks and bring about the desired level of macroeconomic stabilisation? What should such an unemployment benefit system look like? The contributions to this Forum explore the benefits expected from a European unemployment insurance scheme and discuss the difficulties in establishing such a policy.
Authors: Debora Revoltella, Daniel Gros, László Andor, Sebastian Dullien, H. Xavier Jara, Holly Sutherland, Barry Eichengreen.
By Debora Revoltella
By Daniel Gros, László Andor, Sebastian Dullien, H. Xavier Jara, Holly Sutherland.
By Barry Eichengreen
In June the European Central Bank announced a series of new steps to counter deflation. “Better late than never” was the response of many of the critics. But rather than bemoaning the failure of President Draghi & Co. to move earlier, it is more productive at this stage to ask: are the central bank’s measures now up to the task? Will they work, in the sense of taking deflation off the table and giving a boost to economic growth?