Is There a Viable European Social and Economic Model?

14 Pages Posted: 14 Jul 2006

See all articles by Olivier J. Blanchard

Olivier J. Blanchard

National Bureau of Economic Research (NBER); Peter G. Peterson Institute for International Economics

Date Written: July 11, 2006

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 Classification: E24, F41, J5

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: https://ssrn.com/abstract=916606 or http://dx.doi.org/10.2139/ssrn.916606

Olivier J. Blanchard (Contact Author)

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Peter G. Peterson Institute for International Economics ( email )

1750 Massachusetts Avenue, NW
Washington, DC 20036
United States

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