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showing 10 items of 1185 documents
Crises and the EU’s Response: Increasing the Democratic Deficit?
2020
Since the adoption of the Maastricht Treaty and the end of the permissive consensus, the European Union (EU) has—with varying intensity and emphases—been criticized for its democratic deficits. Whereas previous crises often ended up in further integration and strengthening institutions with popular anchoring (notably the European Parliament), this time many commentators are in doubt as crises pile up and common solutions seem hard to find. The EU’s problem is that the technocratic, non-majoritarian bodies dominate policymaking and, on top of that, are not anchored in other sources of legitimacy than its ability to deliver desirable outcomes. In other words, the crises highlight the fact tha…
European Action Programmes for Lifelong Learning
2009
Vocational education and training has been a part of the process of creating a European community since the 1950s. The European training programmes Erasmus and Comett were launched in the 1980s. After the Maastricht Treaty, agreed in 1992, such training programmes were expanded further at the same time as emphasizing their importance to the internationalization of education. With a view to promoting and intensifying educational co-operation, in 1995 the European Commission created two new educational programmes called Socrates and Leonardo da Vinci. Both are umbrella schemes that brought together previously separate action programmes in the field of education. Leonardo da Vinci has been a E…
Is an Increase of the Fiscal Budget at EMU level Desirable?
2005
The birth of the European Monetary Union (EMU) has determined the creation of a common currency, the Euro, but unlike other monetary unions, the EMU does not have a central fiscal authority. The role of fiscal policy is left to the responsibility of the governments of the EMU member States. The new architecture modifies the assignment of the instruments to the objectives, especially those of stabilization. The loss of the sovereignty of monetary policy and exchange rate control by the individual member states has determined the inability to use two important instruments of insurance against the risks of shocks. Moreover, the Treaty of Maastricht and the Stability and Growth Pact (SGP) could…
Assessing long-term fiscal developments : a new approach
2011
We use a new approach to assess long-term fiscal developments. By analyzing the time-varying behaviour of the two components of government spending and revenue – responsiveness and persistence–, a feature not captured by automatic stabilisers, we are able to infer about the sources of fiscal deterioration (improvement). Drawing on quarterly data, we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method for eight European Union countries plus the US. The results suggest that significant changes in the fiscal stance (including those related to the current crisis) are reflected in the estimates of persistence …
A panel cointegration approach to the estimation of the peseta real exchange rate
2001
Abstract In this paper we estimate different specifications of a model for the determination of the bilateral real exchange rate of the peseta relative to nine European Union members. The model is based on Meese and Rogoff (The Journal of Finance 43 (1988) 933) monetary approach as extended by MacDonald (Journal of International Financial Markets, Institutions and Money 8 (1998) 117). The applied econometric techniques are the recent panel cointegration tests developed by Kao (Journal of Econometrics 90 (1999) 1), McCoskey and Kao (A Monte Carlo comparison of tests for cointegration in panel data. Journal of Propagations in Probability and Statistics 1 (2001) 165) and Pedroni (Oxford Bullet…
Unemployment dynamics and NAIRU estimates for accession countries: A univariate approach
2005
Abstract In this paper we test for hysteresis effects versus the natural rate hypothesis on unemployment rates of new members in the European Union (EU) using unit root tests that account for the presence of level shifts. In addition, we estimate the non-accelerating inflation rate of unemployment (NAIRU) from a univariate perspective. The precision of these NAIRU are investigated by studying two sources of inaccuracy that derive from the estimation of the break points, and the estimation of the autoregressive parameters. The results indicate up to four structural breaks in the NAIRU of transition countries that can be associated with institutional changes from implementing market-oriented …
Short-term modified Phillips curves for the accession countries
2006
This study uses NAIRU short-term measures obtained using univariate methods as a basis to analyse inflation developments in the eight Central and Eastern European Countries (CEECs) that joined the European Union in 2004 during the transition process. The results point to the role of short-term NAIRU as an attractor and support a shifting natural rate hypothesis for unemployment in these countries.
EUROscepticism and Monetary Security in Europe
2018
By deliberating on the correlations between the monetary security and the EUROsceptic views of the European citizenry and elites, this chapter addresses the problem of supranational monetary policy and the consequences it has for the economic security of the EU and its constitutive member states. The analysis starts with the introduction into the concept of EUROscepticism and its relations with the classical Euroscepticism. Then the second key term of the chapter is defined, which is the monetary security—nested in the general understanding of the economic security. Here, not only the author provides his own understanding of the monetary security, but also discusses its main levels, dimensi…
Is the Tax Burden a Generating Factor of Fiscal Evasion in South-East Europe?
2020
Tax evasion is a pernicious phenomenon, very widespread in the world, which is closely linked to the system of taxes and fees. This is considered to be a response to the excessive fiscal pressure exerted on taxpayers. Bypassing the law is also closely related to the phenomenon of corruption and its removal is a difficult target, under the existing conditions. The main purpose of this paper is to study the influence of corruption and fiscal pressure on the phenomenon of tax evasion, materialized by the shadow economy indicator. The analysis is carried out over a period of 18 years, namely 1999-2016, for six countries of South-Eastern Europe, member states of the European Union, divided into …
First Determination of 2D Speed Distribution within the Bodies of Coronal Mass Ejections with Cross-correlation Analysis
2019
The determination of the speed of Coronal Mass Ejections (CMEs) is usually done by tracking brighter features (such as the CME front and core) in visible light coronagraphic images and by deriving unidimensional profiles of the CME speed as a function of altitude or time. Nevertheless, CMEs are usually characterized by the presence of significant density inhomogeneities propagating outward with different radial and latitudinal projected speeds, resulting in a complex evolution eventually forming the Interplanetary CME. In this work, we demonstrate for the first time how coronagraphic image sequences can be analyzed with cross-correlation technique to derive 2D maps of the almost instantaneo…