Different levels of policy change: A comparison between the public discussion on social security in Sweden and in Finland

The deep economic recession that hit Sweden and Finland at the beginning of the 90s, and the fall in public revenues and rapidly growing public debts that followed on it, triggered a development of cutbacks and restructuring measures which has resulted in a scientific debate over what this has meant for these countries’ systems of social policy, traditionally resting on the Nordic welfare state paradigm. In this connection, questions of to what extent changes made can be ascribed mainly to the economic constraints posed by the recession at all, or rather, to other more long-term societal trends or phenomena, including globalisation, European integration and/or ideational or ideological shifts among influential (elite) groups, have often been touched upon. Applying an ideas-centred approach, this paper attempts to contribute to the knowledge on the reasoning of influential elite societal groups in social policy issues before, during and after the 90’s recession, by empirically analysing their statements on social security made in the press. A distinction is made between three different levels of proposed policy changes, reaching from minor alterations of single programs to changes of the policy paradigm. Results show that the 1990s did not only mean the emergence of suggestions for minor cutbacks in and alterations of prevailing programmes. The share of suggestions implying de facto a (further) departure from the basic features of the social security system also showed that the model was under continuous pressure throughout the 90s. However, many of the changes suggested were not justified by any clear references to a policy paradigm in either country (or not justified at all). Instead, references to “purely” structural justifications did become more common over time. In this respect, as regards social security, our results cannot confirm the fairly popular notion among many researchers of a clearly ideological attack on the welfare state. However, it remains uncertain whether and to what extent the increased proportion of references to “structural realities” in the 90s should be interpreted as an indication of a change in the idea of what the welfare state is and what the goals behind it are. Results further show that the patterns of the discussion in the two countries studied bore a remarkable resemblance at a general level, whereas there are indications of differences in the driving forces behind suggestions for similar reforms in these two countries.

Thin Capitalization Rules and Entrepreneurial Capital Structure Decisions

Tax planners often choose debt over equity financing. As this has led to increased corporate debt financing, many countries have introduced thin capitalization rules to secure their tax revenues. In a general capital structure model we analyze if thin capitalization rules affect dividend and financing decisions, and whether they can partially explain why corporations receive both debt and equity capital. We model the Belgian, German and Italian rules as examples. We find that the so-called Miller equilibrium and definite financing effects depend significantly on the underlying tax system. Further, our results are useful for the treasury to decide what thin capitalization type to implement.

Lithographiebasierte Fertigung keramischer Bauteile

Im Rahmen des EU-Projektes PHOCAM entwickelt das beteiligte Konsortium Anlagen und Materialien für die generative Fertigung keramischer Bauteile auf Basis der Photopolymerisation. Das Kernelement der verwendeten Fertigungsanlagen, der DLP Projektor, erzeugt mittels leistungsstarker LEDs und einem 1080p DMD (Digital Micromirror Device) Bilder mit 1920x1080 Bildpunkten und der Pixelgröße von 40µm, woraus sich die Baufeldgröße von 76,8x43,2mm ergibt. Ein hochviskoser Schlicker, bestehen aus einem gefülltem fotosensitiven Harzsystem, wird von unten durch die gläserne Materialwanne belichtet, wodurch der Schlicker lokal aushärtet (polymerisiert). Auf diese Weise entsteht der Grünling, der in schichtbauweise (Standardschichtdicke von 25-50µm) aufgebaut ist. Im nachfolgenden Sinterprozess werden die Grünlinge zu den fertigen Keramikteilen gebrannt. Als keramisches Basismaterial für den Schlicker wurde vorwiegend Aluminiumoxid in Pulverform verwendet. Mit dem entwickelten System konnten bislang Schlicker mit einem Füllgrad (Keramikanteil) bis zu 50Vol% erfolgreich verarbeitet und zu Keramikteilen mit einer theoretischen Dichte von 99,6% gesintert werden.