Now showing items 1-2 of 2
On the insurance function of fiscal policy in a monetary union
(2000) Documento de trabajo / Lan gaiak,
In this paper we first review the available literature on the degree of insurance against shocks, provided by the central budget in the federal systems already existing. Next, we discuss the main points raised on the debate ...
Insurance mechanisms against asymmetric shocks in a monetary union: an application to the European Monetary Union
(1999) Documento de trabajo / Lan gaiak,
In this paper we offer a proposal of an automatic insurance mechanism designed to cope with asymmetric shocks in a monetary union. The mechanism would take as indicator the changes in the unemployment rate of the countries ...