Author/Editor: Sakai Ando, Giovanni Dell'Ariccia, Pierre-Olivier Gourinchas, Guido Lorenzoni, Adrian Peralta, Francisco Roch.

Release Date:March, 2023

This paper explores the feasibility of an idea proposed first by the German Council of Economic Experts in 2011 and revisited by Italian and French authorities in 2021: the one-off mutualization of more...