The European redemption pact : implementation and macroeconomic effects

Hasan Doluca, Malte Hübner, Dominik Rumpf and Benjamin Weigert

One possible solution to the sovereign debt crisis is the European Redemption Pact (ERP) proposed by the German Council of Economic Experts. The ERP provides sustainable financing conditions for participating sovereigns to facilitate bringing public debt ratios below the reference value of 60% within the next 20 to 25 years. In this paper, we describe one possible way of implementing the ERP and analyse the fiscal effects of participating in the ERP. The macroeconomic impact of the proposal is illustrated with the multi-country model NiGEM.

MoreLess

Year of publication:	2012
Authors:	Doluca, Hasan ; Hübner, Malte ; Rumpf, Dominik ; Weigert, Benjamin
Published in:	Intereconomics : review of European economic policy. - Warsaw, Poland : Sciendo, ISSN 1613-964X, ZDB-ID 2066476-X. - Vol. 47.2012, 4, p. 230-239
Subject:	Öffentliche Schulden \| Public debt \| Eurozone \| Euro area \| Haushaltskonsolidierung \| Fiscal consolidation \| Europäischer Stabilitätsmechanismus \| European Stability Mechanism \| Wirkungsanalyse \| Impact assessment \| Mehr-Länder-Modell \| Multi-country model \| EU-Staaten \| EU countries

Extent:	graph. Darst.
Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	10.1007/s10272-012-0423-x [DOI] hdl:10419/68328 [Handle]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009612597