Ten Lessons from a Decade of Debating an EUBS: Robust Findings, Popular Myths and Remaining Dilemmas
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The modern debate on a potential EUBS began in earnest around a decade ago, just prior to the onset of the global financial crisis. In the mid-2000s, current account imbalances and diverging unit labour costs triggered a new debate about transfer systems between euro area countries and, particularly, a European unemployment insurance.
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