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Insurance mechanisms against asymmetric shocks in a monetary union: an application to the European Monetary Union

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dc.contributor.authorBajo Rubio, Óscar
dc.contributor.authorDíaz Roldán, Carmen
dc.contributor.departmentEconomíaes_ES
dc.contributor.departmentEkonomiaeu
dc.date.accessioned2016-05-10T07:40:10Z
dc.date.available2016-05-10T07:40:10Z
dc.date.issued1999
dc.description.abstractIn 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 belonging to the union, and would be financed through a fund built from contributions of those countries as a percentage of their tax receipts. The fund would be later distributed among the countries affected by a negative asymmetric shock according to the proportion in which every one of them would have been affected by the shock. The mechanism proposed is illustrated by means of an empirical application to the case of the European monetary union.en
dc.description.sponsorshipThe authors acknowledge financial support from the Spanish Institute for Fiscal Studies.en
dc.format.extent33 p.
dc.format.mimetypeapplication/pdfen
dc.identifier.urihttps://academica-e.unavarra.es/handle/2454/20576
dc.language.isoengen
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.relation.ispartofseries9910en
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectMonetary unionen
dc.subjectAsymmetric shocksen
dc.subjectInsurance functionen
dc.titleInsurance mechanisms against asymmetric shocks in a monetary union: an application to the European Monetary Unionen
dc.typeDocumento de trabajo / Lan gaiakes
dc.typeinfo:eu-repo/semantics/workingPaperen
dspace.entity.typePublication
relation.isAuthorOfPublication53d8540e-53c6-482d-b79d-1671820c0b0e
relation.isAuthorOfPublication8fa28f7b-2861-4dd6-bbcb-16d987d4d2f4
relation.isAuthorOfPublication.latestForDiscovery53d8540e-53c6-482d-b79d-1671820c0b0e

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