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).
Abstract: The Five Presidents’ Report of 2015 called for a macroeconomic stabiliser that would be capable of dealing with asymmetric shocks. A European unemployment bene? ts scheme (EUBS) is one potential stabilisation mechanism, although other proposals for devising risk-sharing tools that could be deployed across the eurozone have also been put forward over the years. The following papers, based on a recent Intereconomics conference, explore and compare the advantages and disadvantages of the various schemes entertained. Which one holds the greatest promise of reducing the risk of deep recession? Do such schemes inevitably lead to moral hazard or are there practical safeguards that can be built into their provisions to minimise this risk? Are any of these proposals politically feasible in the near term? This Forum seeks to answer these questions, searching for solutions that can overcome the political resistance to risk sharing in order to secure the economic bene?ts of risk reduction.
Authors: Christophe Kamps, Nadine Leiner-Killinger, Jacopo Cimadomo and Sebastian Hauptmeier, Iain Begg, Cinzia Alcidi, Gilles Thirion, Suzanne Simonetta, Nicolas Carnot, Frank Vandenbroucke, Sebastian Dullien, Josef Janning
By Christophe Kamps, Nadine Leiner-Killinger, Jacopo Cimadomo, Sebastian Hauptmeier
By Iain Begg
By Cinzia Alcidi and Gilles Thirion
By Suzanne Simonetta
By Nicolas Carnot
By Frank Vandenbroucke
By Sebastian Dullien
By Josef Janning