Search results for "RECESS"

International Fiscal-Financial Spillovers:the Effect of Fiscal Shocks on Cross-Border Bank Lending

2019

This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous domestic fiscal shocks (both measured by spending and revenue) between 1990Q1 and 2012Q4, we find that expansionary domestic fiscal shocks lead to a statistically significant increase in cross-border bank lending. The magnitude of the effect is also economically significant: the effect of 1 percent of GDP increase (decrease) in spending (revenue) is comparable to an exogenous decline in the federal funds ra…

Fiscal multipliers and job-protection regulation

2021

Abstract We study, both theoretically and empirically, how labor market regulation affects fiscal multipliers. We focus on the stringency of employment protection legislation, a prominent source of rigidity in European labor markets. First, using a small-open economy model that features labor-market search-and-matching frictions and nominal rigidities, we show that an increase in government spending has larger output effects when firing costs are lower. The importance of layoff costs for the public spending multiplier is larger in the absence of exchange rate adjustment and in a recession. Second, we confirm these findings empirically using a panel of 26 advanced countries over the period 1…

The PSOE's deliberation and democratic innovations in turbulent times for the social democracy

2020

In the midst of the great recession, the Spanish Socialists Worker's Party (PSOE) lost the Government and experienced a process of instability while trying to reconnect with its electorate. The party's strategic response was embracing highly inclusive deliberations on both key institutional and policy issues that eventually sparked tensions and division. These internal debates led to the introduction and implementation of other democratic innovations, such as direct votes and consultations that substantially transformed key features of the PSOE's organizational model. The article discusses the main features and problems of such deliberations and democratic innovations, and their wider conse…

VACTERL with hydrocephalus: A further case with probable autosomal recessive inheritance

1994

Will austerity cuts dismantle the Spanish healthcare system?

2013

In the face of austerity, a series of disconnected “reforms” could, without corrective measures, lead to the effective dismantling of large parts of the Spanish healthcare system, with potentially detrimental effects on health. Helena Legido-Quigley and colleagues explain.

Educated for migration? Blind spots around labor market conditions, competence building, and international mobility

2018

Young European graduates are crossing borders to work abroad more often than in the past. This trend is particularly evident in Southern Europe, where recent economic downturn has significantly diminished professional opportunities and career prospects. This study will investigate Spain, a country where unemployment has increased dramatically since 2008, as a case study to examine recent graduate’s experiences to develop a professional career in Germany. In particular, this study will draw upon various sources: official statistics; review literature; and education and training policies throughout the European Union. The investigation features an interview with Spanish graduates working in …

Equilibrio fra poteri e libertà dai Trattati in diritto dell'Unione europea e diritto internazionale

2014

Riflessione sulla categoria civilistica dell'invalidità applicata ai Trattati internazionali e a quella peculiare species costituita dai Trattati istitutivi dell'Unione Europea. Si dà conto altresì delle modalità di modifica degli stessi e dell'estinzione.

Overqualified Employees: Making the Best of a Potentially Bad Situation for Individuals and Organizations

2011

One of the “truisms” of personnel selection is that overqualified applicants are likely to be a poor fit and thus experience low job satisfaction and performance and higher turnover. Recently, the issue of overqualification has come to the forefront because of the economic downturn, especially in some European Union countries where unemployment rates are extremely high. However, empirical research on overqualification in the industrial–organizational/organizational behavior literature is limited. In this article, we argue that although there may be drawbacks to overqualification for both organizations and employees, overqualification may also provide a number of positive outcomes for worker…

Unemployment Transitions to Stable and Unstable Jobs Before and During the Crisis

2014

Using administrative records data from Spanish Social Security, we analyse the pattern and the determinants of individual unemployment benefit spell durations. We compare a period of expansion (2005-2007) and the recent recession (2009-2011), allowing us to determine the impact of the current crisis. In line with the duality that characterizes the Spanish labour market, we distinguish between exits to a stable job and exits to an unstable job. We estimate a Multivariate Mixed Proportional Hazard Model for each time period. We find similar effects of the crisis for stable and unstable jobs, which are particularly strong in the first year of the spell. Moreover, slight negative duration depen…

Rethinking Labour Migration Channels: the Experience of Latvia from EU Accession to Economic Recession

2013

With the onset of recession in the UK in 2008, it was assumed that immigration from other European Union countries would decline. However, this has been shown to not be the case, with the volume of new arrivals from most of the East-Central European ‘Accession 8’ countries actually increasing. The focus of this paper is Latvia, a country that had a relatively buoyant economy following its accession to the European Union in 2004 but that now has one of the highest unemployment and emigration rates in Europe. Interviews carried out with labour providers, policymakers, and employers are used to examine the labour migration channels that reflect and structure labour migration flows from Latvia …