The Euro Area Crisis is popular PDF and ePub book, written by Davide Furceri in 2013-09-25, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, The Euro Area Crisis can be Read Online from any device for your convenience.
The Euro Area Crisis Book PDF Summary
The aim of this paper is to assess the effectiveness of risk sharing mechanisms in the euro area and whether a supranational fiscal risk sharing mechanism could insure countries against very severe downturns. Using an unbalanced panel of 15 euro area countries over the period 1979-2010, the results of the paper show that: (i) the effectiveness of risk sharing mechanisms in the euro area is significantly lower than in existing federations (such as the U.S. and Germany) and (ii) it falls sharply in severe downturns just when it is needed most; (iii) a supranational fiscal stabilization mechanism, financed by a relatively small contribution, would be able to fully insure euro area countries against very severe, persistent and unanticipated downturns.
Detail Book of The Euro Area Crisis PDF
- Author : Davide Furceri
- Release : 25 September 2013
- Publisher : International Monetary Fund
- ISBN : 9781484334201
- Genre : Business & Economics
- Total Page : 34 pages
- Language : English
- PDF File Size : 8,8 Mb
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