Subnational governments have become more involved in the ‘regulation of unemployment’ (the design, implementation and financing of unemployment-related benefits and activation), partly because they are thought to be better placed to activate the unemployed than federal governments. However,...

Nearly all monetary unions are true ‘insurance unions': they not only centralise risk management with regard to banks, they also centralise unemployment insurance. The European Economic and Monetary Union is the one exception, but it is gradually developing policies driven by the need for...

All existing monetary unions centralise, to various degrees, specific social policy functions, notably functions that support economic stabilization, like unemployment insurance. The European Monetary Union features as the only exception. Compared to the United States, the European Monetary...