Dolls, Mathias; Fuest, Clemens; Heinemann, Friedrich; … - 2015
insurance and a sovereign insolvency procedure are no contradiction but, on the contrary, mutually enforcing: An effective … other reform designs which do not offer a solution for insolvent or noncooperative euro countries. We suggest a design which … combines fiscal insurance with an orderly procedure to restructure the debt of an insolvent euro member. We show that fiscal …