Time for some shock (absorption): Reinsurance of national unemployment insurance should be a Commission priority. CEPS Commentary, 1 October 2014

Beblavý, Miroslav and Maselli, Ilaria (2014) Time for some shock (absorption): Reinsurance of national unemployment insurance should be a Commission priority. CEPS Commentary, 1 October 2014. [Policy Paper]

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Abstract

In presenting their priorities for the new European Commission, Miroslav Beblavý and Ilaria Maselli assert in this CEPS Commentary that the time has come to devise an EU-level shock absorption mechanism. In their view, the instrument that best aligns varying political and economic objectives is a form of reinsurance of national systems of unemployment insurance. The primary motivation for the reinsurance proposal is that it can have a substantial stabilising effect, especially in case of large shocks, and, at the same time, be politically realistic in terms of contributions, costs and administrative burdens.

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