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Longer-term Consequences of the Great Recession on the Lives of Europeans
The great recession is changing the way many people live and the way they perceive their prospects for the near and more distant future. Its longer term consequences will not be known for some time, but something can be learned from the effect on individuals and households who experienced financial hardship. This volume is the first to use innovative survey data on the lives of Europeans to investigate the long term impact of financial hardship on earnings, standards of living, and health. The data provide a detailed account of the key events that have taken place over the course of the recession. It compares the well-being of individuals who were lucky to escape negative shocks to their income or their circumstances to the less fortunate who may have lost their job, faced divorce, or serious illness. The wide array of welfare state and social support provisions across different European countries adds an important policy angle to the analysis: has the welfare state, currently under heavy pressure, been able to provide an adequate safety net in the face of extended periods of financial difficulties, or has the family instead proven the ultimate source of support in difficult times?
The Great Recession and the Distribution of Household Income
The so-called Great Recession that followed the global financial crisis at the end of 2007 was the largest economic downturn since the 1930s for most rich countries. To what extent were household incomes affected by this event, and how did the effects differ across countries? This is the first cross-national study of the impact of the Great Recession on the distribution of household incomes. Looking at real income levels, poverty rates, and income inequality, it focusses on the period 2007-9, but also considers longer-term impacts. Three vital contributions are made. First, the book reviews lessons from the past about the relationships between macroeconomic change and the household income di...
The Global Financial Crisis
This book explores possible causes of the global economic crisis, including lack of banking regulation, greed of financial institutions, decisions of the Federal Reserve, and the abandonment of the gold standard. Examines the differing impacts of the crisis on wealthy nations and developing nations, and why some nations are weathering the crisis better than others. Discusses potential solutions to the crisis, such as regulatory reform and lowering restrictions on trade.
Ageing, Health, and Productivity
Increase in life expectancy is arguably the most remarkable by-product of modern economic growth. In the last 30 years we have gained roughly 2.5 years of longevity every decade, both in Europe and the United States. Successfully managing ageing and longevity over the next twenty years is one of the major structural challenges faced by policy makers in advanced economies, particularly in health spending, social security administration, and labour market institutions. This book looks closely into those challenges and identifies the fundamental issues at both the macroeconomic and microeconomic level. The first half of the book studies the macroeconomic relationships between health spending, t...
The European Employment Strategy
Labour law and social policy have long provided an arena within which key debates over the depth and pace of European integration have taken place. Increasingly, as the European Union's employment policy has matured, employment and economic policy discourses have come to displace discourses around social policy and social law, a displacement which has occurred in tandem with a shift from legislative harmonisation to the use of 'soft law' and governance by means of guidelines.This book charts the evolution of the European Employment Strategy and the new forms of governance to which it has given rise, in particular the 'open method of coordination'. It offers an interdisciplinary exploration o...
Growth in Transition
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