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The European economy is emerging from its deepest recession since the 1930s. This volume, which brings together economic analysis from the European Commission services, explains how swift policy response avoided a financial meltdown. Europe also needs an improved co-ordinated crisis-management framework to help it respond to any similar situations that may arise in the future. Economic Crisis in Europe is a much-anticipated volume which shows that the beginnings of such a crisis-management framework are emerging, building on existing institutions and legislation and complemented by new initiatives.
Economic shocks pose a threat to health and health system performance by increasing people's need for health care and making access to care more difficult - a situation compounded by cuts in public spending on health and other social services. But these negative effects can be avoided by timely public policy action. While important public policy levers lie outside the health sector, in the hands of those responsible for fiscal policy and social protection, the health system response is critical. This book looks at how health systems in Europe reacted to pressure created by the financial and economic crisis that began in 2008. Drawing on the experience of over 45 countries, the authors:' analyse health system responses to the crisis in three policy areas: public funding for the health system; health coverage; and health service planning, purchasing and delivery 'assess the impact of these responses on health systems and population health' identify policies most likely to sustain the performance of health systems facing financial pressure' explore the political economy of implementing reforms in a crisisThe book is essential reading for anyone who wants to understand the choices available to policy-makers - and the implications of failing to protect health and health-system performance - in the face of economic and other forms of shock.--
The recent recession has led to an ongoing crisis in the youth labour market in Europe. This timely book deals with a number of areas related to the context, choices and experiences of young people, the consequences of which resonate throughout their lives. The focus of the contributions to this volume is on issues which, whilst undoubtedly important, have thus far received less attention than they arguably deserve. The first part of the book is concerned with issues related to education and training, covering matters such as the role of monopsony in training, the consequences of over-education, and the quality of educational institutions from primary to tertiary. The second part is primarily concerned with the long-term consequences of short-term choices and experiences including contributions on health-related choices, health consequences later in life, factors affecting the home-leaving decision, as well as an analysis of the increasing intergenerational transmission of inequality; a trend which accelerated during the recession. The last part of the book deals with issues related to youth unemployment and NEET – the direct consequence of the recession. This book contains a number of innovative analyses reporting significant findings that contrast with standard models. Some of the more interesting results directly contradict conventional wisdom on a number of topics from the importance of monopsony in training markets to the importance of transitory income changes on consumption of addictive goods. This book is suitable for those who study labor economics, political economy as well as employment and unemployment.
An original new textbook providing an up-to-date, critical perspective of how the EU works, and what issues it faces, in the post-crisis era.
Incorporating the most recent data available for 2002, this report analyses current labour market trends and examines the impact of the global economic downturn and post 11 September developments upon different world regions. Covering Latin America and the Caribbean, East Asia, South East Asia, the Middle East and North Africa and sub-Saharan Africa, the transition economies and industrial countries, it focuses on the distinct labour market characteristics and challenges faced by each region and economic group. It also traces factors contributing to the global employment decline, such as the increase in informal sector employment, the decrease in employment in information and communication technology, as well as extensive jobs losses in the travel and tourism industries and the export and labour-intensive manufacturing sectors.
We examine whether the cross-country incidence and severity of the 2008-2009 global recession is systematically related to pre-crisis macroeconomic and financial factors. We find that the pre-crisis level of development, increases in the ratio of private credit to GDP, current account deficits, and openness to trade are helpful in understanding the intensity of the crisis. International risk sharing did little to shield domestic demand from the country-specific component of output declines, while those countries with large pre-crisis current account deficits saw domestic demand fall by much more than domestic output during the crisis.
Time Time b a Space Space Time Time c d Space Space Fig. 1 Different possible scales for growth and innovation analyses spatial dimension, the sectoral dimension and the time dimension are represented. In Fig. 1a, regional developmentanalyses are revealed, where the economyis sliced vertically into regions and their dynamics are investigated. The study of the evolution of industries, typical of evolutionary industrial e- nomics, is represented in Fig. 1b, where the economy is divided horizontally into sectoral slices. This approach has progressed considerably in recent years (see Malerba 2006, for a recent survey). Modi?cations of industries have important spatial implications, which however are not normally at the core of these ana- ses even though spatial patterns of innovation differ greatly from sector to sector (Breschi 2000). Our approach operates in the manner of Fig. 1a and we will focus on regions, extending the analysis to industries only where this is regionally and structurally relevant. Hence, the approach in the book belongs to the tradition of regional development theories, but, in contrast to the more traditional analyses, we will not consider the region as an economic unit per se. Rather, interactions between and within regions are very relevant to the performance of individual regions in an integrated world and will be at the core of the analyses of the following chapters.
Against the backdrop of the financial crisis that unfolded in 2008, this book deals with policy challenges going forward, focusing in particular on the ongoing catching-up process in Central, Eastern and South-Eastern European (CESEE) countries. Whilst having emerged relatively unscathed from the crisis, the CESEE economies nonetheless need to adjust to the new external conditions they will encounter. In this respect, decision-makers are faced with multiple sources of uncertainty: will post-crisis growth be the same as pre-crisis growth? What will be the future role of financial integration, growth financing and exports? What are the particular challenges facing monetary policy-makers and the banking sector in the region? On these issues and related topics, the book provides a multi-disciplinary assessment, combining the views of high-ranking central bankers and other policy-makers, commercial bankers and academics. Economists and students of economic policy and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes will find this book of great interest and importance, especially those working on Central, Eastern and South-Eastern Europe.
This is the first book to provide a comprehensive and systematic assessment of the impact of the crisis and austerity policies on all elements of the European Social Model. This book assesses the situation in each individual EU member state on the basi
In this illuminating book Colin Crouch examines the diverse approaches presented by advanced societies in their attempts to resolve a central dilemma of a capitalist economy: the need to combine buoyant mass consumption with insecure workers, subject t