Batini, Nicoletta; Lamperti, Francesco; Roventini, Andrea - 2021
space. We build on the model by Berger et al. (2019) to compare gains from alternative mechanisms of EU fiscal integration … in the presence of moral hazard. We show that any EU response strategy to the COVID-19 crisis excluding mutual financial … presence of increasing sovereign default risk of some EU member countries. The moral hazard created by risk sharing can be …