An unemployment insurance scheme for the euro area? : a comparison of different alternatives using micro data


Dolls, Mathias ; Fuest, Clemens ; Neumann, Dirk ; Peichl, Andreas


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URL: https://ub-madoc.bib.uni-mannheim.de/37382
URN: urn:nbn:de:bsz:180-madoc-373821
Document Type: Working paper
Year of publication: 2014
The title of a journal, publication series: ZEW Discussion Papers
Volume: 14-095
Place of publication: Mannheim
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: F55 , H23 , J65,
Keywords (English): European fiscal integration , unemployment insurance , automatic stabilizers
Abstract: We analyze different alternatives how a common unemployment insurance system for the euro area (EA) could be designed and assess their effectiveness to act as an insurance device in the presence of asymmetric macroeconomic shocks. Running counterfactual simulations based on micro data for the period 2000-13, we highlight and quantify the trade-off between automatic stabilization e¤ects and the degree of cross-country transfers. In the baseline, we focus on a non-contingent scheme covering short-term unemployment and find that it would have absorbed a significant fraction of the un- employment shock in the recent crisis. However, 5 member states of the EA18 would have been either a permanent net contributor or net recipient. Our results suggest that claw-back mechanisms and contingent benefits could limit the degree of cross-country redistribution, but might reduce desired insurance e¤ects. We also discuss moral haz- ard issues at the level of individuals, the administration and economic policy.

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Dolls, Mathias ; Fuest, Clemens ; Neumann, Dirk ; Peichl, Andreas (2014) An unemployment insurance scheme for the euro area? : a comparison of different alternatives using micro data. Open Access ZEW Discussion Papers Mannheim 14-095 [Working paper]
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