TY  - BOOK
AU  - Bajo-Rubio,Oscar
AU  -  Díaz-Roldán,Carmen
TI  - Insurance Mechanisms against Asymmetric Shocks in a Monetary Union: A Proposal with an Application to EMU
PY  - 2003///.
							
N1  - 35
N2  - In this paper, we present a simple, automatic insurance mechanism designed to cope with asymmetric shocks within a monetary union. This could be used as a starting point for a more developed policy instrument. This mechanism could be used as a shock indicator on changes in the unemployment rate of member countries, and financed through a fund consisting of contributions from the member countries as a percentage of their tax receipts. The fund would be distributed among the countries affected by a negative asymmetric shock, in proportion to the severity of the shock they experience. We will explain our proposal by applying it empirically to the European economic and monetary union
UR  - https://shs.cairn.info/journal-recherches-economiques-de-louvain-2003-1-page-73?lang=en
ER  -