US fiscal dynamics in political perspective

Given the importance of fiscal balance for ensuring a sustainable fiscal policy, we conduct an empirical examination of fiscal dynamics in the United States in response to unsustainable budget deviations. We concentrate on the role of political factors, namely the Republican - Democrat presidential divide, in determining the fiscal response to budget disequilibria. Making use of an asymmetric cointegration framework, we explore politically motivated fiscal asymmetries in the US, from Eisenhower to Obama. We conclude that political factors such as the government’s political quadrant and the timing of elections are important determinants of the fiscal response to unsustainable budget deviations.

Work ethic and the legacies of political regimes

This article studies the cross-country differences in work ethic and claims that different political regimes transmitted different work ethics that still persist today. Using the World Values Survey and starting our political regime analysis in 1900, we find that Democratic regimes promote more effectively work relevance and competitiveness than Autocratic and Anocratic regimes, and that the political regime history of the country is more important than the present level of democracy. Moreover, we prove that this differences were transmitted through generations by parents, who optimally choose what work ethic to transmit taking into account their own values.

Weimar and the crisis of political legitimacy in Late Modernity : Max Weber, Hans Kelsen and Carl Schmitt

Através da comparação das ideias de três grandes teóricos da política no conturbado contexto da República de Weimar, esta dissertação pretende reconsiderar a crise da legitimidade política na modernidade tardia. Tal crise é concebida tanto em sentido estrito, enquanto crise das democracias liberais perante os efeitos de rápidas mudanças sociais e a emergência da política de massas, como em sentido lato, ou seja, enquanto crise dos alicerces político-intelectuais da era moderna. Nessa medida, veremos como os juízos de Weber, Kelsen e Schmitt não se limitam a veicular veredictos contrastantes sobre a democracia de massas, o parlamentarismo e os partidos políticos, remetendo também para narrativas distintas sobre o destino do homem moderno – narrativas que oscilam entre o optimismo moderado, a ambivalência e a reacção hostil.