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Is There a Viable European Social and Economic Model?

Olivier J. Blanchard
Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER)

July 11, 2006

MIT Department of Economics Working Paper No. 06-21

Abstract:
In this lecture, I argue that the efficiency cost of generous but well designed social insurance need not be very large, and that there is indeed a viable European model, based on three legs: competition in goods markets, insurance in labor markets, and the active use of macroeconomic policy.

Keywords: Europe, euro, insurance, competition

JEL Classifications: E24, F41, J5

Working Paper Series

Date posted: July 14, 2006 ; Last revised: September 21, 2006

Suggested Citation

Blanchard, Olivier J., Is There a Viable European Social and Economic Model? (July 11, 2006). MIT Department of Economics Working Paper No. 06-21. Available at SSRN: http://ssrn.com/abstract=916606

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