B. Bakker, Bas, (2015), ” Employment and the Great Recession : The Role of Real Wages”, IMF publications, 28 October This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of adjustment of real wages and the impact this had on labor productivity also played a role. In many …Read More
Ruhm, Christopher J., (2015), “Economic crises and mortality”, Voxeu, 29 October. Conventional wisdom tells us that health deteriorates when the economy weakens and improves when it strengthens. Some research tentatively agrees, but there is a marked dearth of challenges and robust research. This column presents new evidence suggesting that the reductions in mortality occurring during typical economic downturns also occur in periods of crisis, adding useful caveats for different types of …Read More
Frimmel, Wolfgang, Winter-Ebmer, Rudolf, (2015), “The contribution of the wage structure to early retirement behaviour”, Voxeu, 28 October. The literature on retirement age has tended to focus on the supply side of the labour market. Using Austrian data, this column examines how firms can influence workers’ retirement decisions through wage structure. Deferred compensations schemes characterised by steeper seniority-wage profiles are found to be associated with workers retiring earlier. Given that early labour …Read More
Schraad-Tischler, Daniel, (2015), “Key Findings: Social Justice in the EU – Index Report 2015-Social Inclusion Monitor Europe”, Bertelsmann Stiftung, October The Bertelsmann Stiftung conducts an annual study of developments in opportunities for social participation in all 28 EU member states. Despite economic recovery, the gap between young and old is growing and the social divide between northern and southern Europe remains immense. Relevant Posts Schraad-Tischler, D. & Krol, C. (2014) “Social Justice …Read More
Mason, Paul, (2015), “PostCapitalism: The Economy Of The Future?”, Social Europe Journal, 26 October Over the past two centuries or so, capitalism has undergone continual change – economic cycles that lurch from boom to bust – and has always emerged transformed and strengthened. Surveying this turbulent history, journalist and Channel 4 economics news editor Paul Mason wonders whether this time capitalism itself has reached its limits and is changing into …Read More
DARVAS, ZSOLT, SIMON, ANDRÁS, (2015), “Filling the gap: open economy considerations for more reliable potential output estimates”, Bruegel publications, 22 October This paper proposes a novel structural model to estimate the equilibrium level of output and reports results for 45 countries. The model is conceptually more appropriate than existing methods by incorporating open economy considerations, which are completely missing from the models of the European Commission, IMF and OECD. Relevant …Read More
Costa-Font, Joan, Cowell, Frank, (2015), “How European integration influences the way we think about redistribution of income”, LSE blog, 22 October What makes us more (or less) inclined to redistribute resources? Drawing on findings from a recent study, Joan Costa-Font and Frank Cowell write that European integration has a role in lessening national pride and is conducive to a more positive attitude toward income redistribution. They argue that when individuals identify themselves with …Read More
Jaumotte, Florence, Osorio Buitron, Carolina, (2015), “Union power and inequality”, VoxEU, 22 October Inequality in advanced economies has risen considerably since the 1980s, largely driven by the increase of top earners’ income shares. This column revisits the drivers of inequality, emphasising the role played by changes in labour market institutions. It argues that the decline in union density has been strongly associated with the rise of top income inequality and discusses the …Read More
Galgóczi, Béla, Leschke, Janine, (2015), “Free movement of labour in Europe: a solution for better labour allocation?”, European Trade Union Institute, June The European Commission has time and again promoted intra-EU labour mobility as a major contributor to the better functioning of European labour markets. On the other hand, concerns about increasing labour mobility are mounting in a number of member states and populist parties are trying to capitalise on …Read More
Chalmers, Adam William, (2015), “Financial industry mobilisation and securities markets regulation in Europe”, European Journal of Political Research, Issue 3, Volume 54, August The 2007–2009 financial crisis has led to considerable debate about the role of financial industry actors in global regulatory processes. This article seeks to contribute to this debate by assessing when and why financial industry actors mobilise in order to influence securities markets regulations. Do these mobilisation …Read More
