With disparities in national unemployment rates reaching record levels, the debate on fiscal stabilisers in Europe has gained new momentum. Can a European unemployment insurance scheme help to absorb asymmetric shocks and bring about the desired level of macroeconomic stabilisation? What should such an unemployment benefit system look like? The contributions to this Forum explore the benefits expected from a European unemployment insurance scheme and discuss the difficulties in establishing such a policy.
This figure from the article How Great Is Latvia’s Success Story? by Aldis Austers shows that widespread poverty is a notable features of the Latvian economy. The share of population at risk of poverty is 21.3 per cent on average; however, in regions outside the capital this figure fluctuates between 30 and 40 per cent. Click on the figure for further information.
Investment expenditure collapsed in Europe in the aftermath of the global financial crisis. By 2013, total investment across the EU had fallen about 20 per cent from its peak in 2008. During the crisis, the decline of investment in Europe has been double that in the US and Japan. By the beginning of 2014, investment started to recover in Europe but is still growing at a slower pace than nominal GDP.
The continued economic crisis has become a major test for the labour markets of individual member states. Labour mobility within the European Union has the potential to help to reduce labour market pressures and ease economic imbalances. However, a long-term loss of working age population can be detrimental to sending countries. This Forum explores mobility patterns within the European Union and analyses the labour market and welfare effects of labour mobility.
"European monetary policy is already being made in an environment of near zero interest rates where, hoopla about negative deposit rates notwithstanding, further changes in interest rates are little more than symbolic. Thus, if policy is going to make a difference, policy will have to be unconventional."
- from Barry Eichengreen's Letter from America The ECB Tries Again
Youth unemployment has been on the rise since the beginning of the crisis in 2008. Even more troublesome is the dramatic rise in the number of youth not in employment, education or training, which has led to widespread concerns about the impact on social cohesion and fears of a "lost generation". This Forum explores youth unemployment in the EU via case studies of England, Belgium, Spain, Poland and Ireland. It also examines Germany's dual vocational training system as one potential solution.
by Debora Revoltella
by Daniel Gros, László Andor, Sebastian Dullien, H. Xavier Jara, Holly Sutherland
by Ansgar Belke
by David Cronin
by Dennis Tamesberger, Heinz Leitgöb, Johann Bacher
by Aldis Austers
by Barry Eichengreen
Davide Viaggi, Jean-Christophe Bureau, Stefan Tangermann, Alan Matthews, Christophe Crombez, Louise Knops, Johan Swinnen
Jennifer Jager, Kurt A. Hafner
J. Pelkmans, M. Goyens, H.-P. Burghof, S. Leibfried
Vassilis Monastiriotis, Niamh Hardiman, Aidan Regan, Chiara Goretti, Lucio Landi, J. Ignacio Conde-Ruiz, Carmen Marín, Ricardo Cabral
A. Bongardt, F. Torres, P. Pochet, I. Begg, L. Csaba, K. Lannoo, L. Soete, C. Egenhofer