The European Redemption Fund: A Comparison of Two Proposals
AbstractThis paper proposes a redemption fund for the euro zone countries alternative to that recently proposed by Doluca et al. (2012) â The European Redemption Pact: an Illustrative Guide, GCEE Working Paper No.2, February â and in coherence with a previous proposal of one of the author. In doing so, we envisage a country-specific amortization scheme in which the sovereign debts exceeding the 60% ceiling of GDP is redeemed in 30 years. The paper shows that our redemption scheme is cheaper and less constraining than that proposed by Doluca et al. (2012). Also, our paper shows that fiscal âbrakesâ â such as those required by the Fiscal Compact â are not necessary for the complete redemption of the Fund.
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Bibliographic InfoArticle provided by Società editrice il Mulino in its journal Politica economica.
Volume (Year): (2012)
Issue (Month): 3 ()
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Other versions of this item:
- Parello, Carmelo Pierpaolo & Visco, Vincenzo, 2012. "The european redemption fund: a comparison of two proposals," MPRA Paper 42874, University Library of Munich, Germany, revised 26 Nov 2012.
- Parello, Carmelo Pierpaolo & Visco, Vincenzo, 2012. "The European Redemption Fund: A Comparison of Two Proposals," MPRA Paper 42232, University Library of Munich, Germany.
- H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Hasan Doluca & Malte Hübner & Dominik Rumpf & Benjamin Weigert, 2013.
"The European Redemption Pact. An illustrative guide,"
Revue de l'OFCE,
Presses de Sciences-Po, vol. 0(1), pages 341-367.
- Doluca, Hasan & Hübner, Malte & Rumpf, Dominik & Weigert, Benjamin, 2012. "The European Redemption Pact: An illustrative guide," Working Papers 02/2012, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung.
- Hasan Doluca & Malte Hübner & Dominik Rumpf & Benjamin Weigert, 2012. "The European Redemption Pact: Implementation and macroeconomic effects," Intereconomics: Review of European Economic Policy, Springer, vol. 47(4), pages 230-239, July.
- Gustav A. Horn & Alexander Herzog-Stein & Ansgar Rannenberg & Katja Rietzler & Silke Tober & Peter Hohlfeld & Fabian Lindner & Sabine Stephan, 2013. "Krise überwunden? Prognose der wirtschaftlichen Entwicklung 2013/2014," IMK Report 86-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Gustav A. Horn & Alexander Herzog-Stein & Peter Hohlfeld & Fabian Lindner & Ansgar Rannenberg & Katja Rietzler & Sabine Stephan & Silke Tober, 2014. "Deutschland im Aufschwung - Risiken bleiben," IMK Report 91-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
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