Paul van den Noord


Paul van den NoordPaul van den Noord is an Affiliate Member of the Amsterdam School of Economics (University of Amsterdam) and ACES, Amsterdam Centre for European Studies. He spent most of his career at the OECD in Paris (1989-2013), from 2010 to 2013 as a Counsellor to the Chief Economist. In that role he acted as OECD delegate at the G20. From 2007 to 2010, he was seconded as an Economic Adviser to the European Commission in Brussels. In 2013 Paul joined a financial institution in London and Geneva, and from 2014 to 2018 was a Visiting Professor at the College of Europe in Bruges. In 2018 Paul returned to his Alma Mater in Amsterdam. He has published widely in the fields of monetary union and the political economy of reform, including numerous articles in academic journals

Papers Published in World Economics:

Mimicking a Buffer Fund for the Eurozone

Eurozone fiscal buffer fund could be set up to finance transfers to countries triggered by the cyclical movements in their unemployment rate. Countries would contribute a fixed share of their GDP to the fund in good times. The receipts from the fund are found to significantly mitigate the fiscal contractions during downturns and thus help bolster the stability of the Eurozone economy by counteracting the pro-cyclicality of fiscal policies. To quantify the extent of macroeconomic stabilisation thus achieved, estimates for the ‘fiscal multipliers’ are superimposed on the assumed change in fiscal policies. It suggests that a Eurozone buffer fund would have significant stabilisation properties. The computations are carried out using two databases – the European Commission's AMECO database and the OECD Economic Outlook database -- by way of a robustness check.

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