Found 28 article(s) for author 'Europe'

Effects of Austerity: Expenditure- and Tax-based Approaches

Effects of Austerity: Expenditure- and Tax-based Approaches. Alberto Alesina, Spring 2019, Paper, “Sometimes governments need to reduce their budget deficits aggressively. These policies are labeled “austerity.” Almost always austerity is needed because excessive debt has been accumulated, as a result of policy mistakes and political distortions (Alesina and Passalacqua 2016; Yared, in this issue). The austerity policies embraced by several European countries starting in 2010 have generated an extraordinarily harsh policy debate. One side has argued that austerity is (almost) always a bad idea. From this perspective, even European countries that were experiencing serious difficulties in financial markets—either by being totally cut off from borrowing like Greece, or by paying high risk premia like Portugal, Spain, Ireland, and Italy—should have continued to stimulate their economies with high levels of government spending. Austerity, the argument continues, was self-defeating because the recessions it induced, or extended, only increased government debt as a ratio of GDP. Blanchard and Leigh (2014) argued that this round of austerity was particularly costly: in other words, fiscal multipliers were especially high. The other side argued that postponing austerity would have caused Effects.Link

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Unequal Europe: Regional Integration and the Rise of European Inequality

Unequal Europe: Regional Integration and the Rise of European Inequality. Jason Beckfield, 2019, Book, “Argues that European integration causes the convergence and retrenchment of European welfare states. Shows that regional integration has important effects on European welfare states and income inequality in Europe over and above those of globalization. Develops the concept of “technocratic capitalism” as an interpretation of a predominant form of capitalism in the EU over the last thirty years.Link

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Europe in ‘more trouble’ than the U.S. 10 years after great recession

Europe in ‘more trouble’ than the U.S. 10 years after great recession. Andrei Shleifer, December 4, 2018, Video, “There are signs of fragility in the economy, but Harvard Professor Andrei Shleifer the U.S. is better off today than it was in 2008. He spoke with Yahoo Finance’s Alexis Christoforous about his new book, ‘A Crisis of Beliefs: Investor Psychology and Financial Fragility’Link

 

 

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Which Europeans Like Nudges? Approval and Controversy in Four European Countries

Which Europeans Like Nudges? Approval and Controversy in Four European Countries. Cass Sunstein, January 29, 2018, Paper, “Policy makers show an increasing interest in “nudges”—behaviorally motivated interventions that steer people in certain directions but maintain freedom of consumer choice. Despite this interest, little evidence has surfaced about which population groups support nudges and nudging. We report the results of nationally representative surveys in Denmark, Hungary, Italy, and the United Kingdom. Individual, household, and geographic characteristics served as predictors of nudge approval, and the count of significant predictors as measures of controversy.Link

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Monetary-Policy Normalization in Europe in 2018

Monetary-Policy Normalization in Europe in 2018. Carmen Reinhart, December 22, 2017, Opinion, “As the European Central Bank pursues monetary-policy normalization in 2018, it should proceed with caution. It will need to balance mounting pressure from Germany for faster normalization with a realistic assessment of the durability and breadth of the unfolding recovery.Link

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Does Europe Really Need Fiscal and Political Union?

Does Europe Really Need Fiscal and Political Union? Dani Rodrik, December 11, 2017, Opinion, “There is a growing sense in Europe, among conservatives and progressives alike, that fiscal and eventual political union is necessary to maintain the euro without damaging economic performance or democratic values. But there is also an alternative, much less ambitious view, according to which only banking union is needed.Link

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The Rise of Economic Insecurity in the EU: Concepts and Measures

The Rise of Economic Insecurity in the EU: Concepts and Measures. Jason Beckfield, 2017, Paper, “Economic instability, an array of social changes, and welfare state retrenchment place the question of economic insecurity high on the scholarly and political agenda. We contribute to thesedebates by drawing conceptual distinctions between inequality and insecurity. Fundamentally,inequality concerns the distribution of resources across individuals, while insecurity concerns exposure to multiple social risks that can deteriorate living conditions. The multiplicity and dynamism of insecurity inform our development of a new measure of economic insecurity, using longitudinal data from the EU-SILC database. Substantively, we then use our new measure to analyze the distribution of insecurity in Europe.Link

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Civil Society and Three Dimensions of Inequality in Post-1989 Poland

Civil Society and Three Dimensions of Inequality in Post-1989 Poland.  Grzegorz Ekiert, April 2017, Paper, “This article presents three novel arguments regarding the role of civil society in the democratic transformation of Poland. First, under communism, associational life was neither extinct nor always totally controlled by the state. Over time, some organizations achieved a modicum of autonomy. The massive Solidarity movement left a legacy of civic engagement that influenced post-1989 developments. Second, inequality under state socialism needs to be treated comprehensively. While the level of income inequality was modest, economic inequality was more pronounced (privileges of the communist elites). Civic and political inequalities were acute. All three forms of inequality generated discontent and mobilization. Third, after 1989, civil society has become an institutional vehicle for virtually eliminating political inequality, advancing civic equality, and controlling the growth of economic inequality.Link

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Why is Growth better in the United States than in other Industrial Countries

Why is Growth better in the United States than in other Industrial Countries. Martin Feldstein, March 2017, Paper, “Although the official statistics imply that the rate of growth of real GDP in the United States has declined in recent years, it has still been substantially higher than the real growth rates in Europe and the other industrial countries, leading to higher real per capita incomes. This paper discusses ten reasons for the higher rate of real economic growth.Link

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