9 resultados para Economical considerations
em Archive of European Integration
Resumo:
No abstract.
Resumo:
State aid for rescue and restructuring (R&R) of companies in difficulty causes a significant distortion of competition. It prevents the market from eliminating inefficient companies. Because of this, the European Commission has to be specially strict when it assesses rescue or restructuring aid. This paper examines recent cases of corporate restructuring partly funded with public money. It explains the main aspects of the current guidelines which are applicable to R&R State Aid and establishes a theoretical framework for the economic assessment of R&R aid. It then analyses decisions adopted by the European Commission concerning R&R state aid during the period 2000-2013. It finds that there is little economic rationale in the granting of R&R aid. The paper concludes by applying the lessons drawn from the empirical analysis to the anticipated revision of the R&R guidelines in the context of the State Aid Modernisation process.
Resumo:
What explains the length of a Member of the European Parliament’s career? Little evidence of careerism has been uncovered in the European Parliament, particularly when compared to studies of legislator tenure in the U.S. Congress. Due to the different historical contexts in which these two legislatures developed, it seems reasonable to rule out many of the explanations used to account for increasing careerism in Congress in searching for the influences on legislator tenure in the European Parliament. This paper therefore proposes three potential models of careerism in the European Parliament: an electoral systems model, a party model, and an individual model. While the data necessary to test these models has not been fully compiled, this paper outlines the major hypotheses of each model and details plans for the operationalization of all independent and control variables. These models are not intended to be mutually exclusive alternatives, but rather each explanation is expected to influence each MEP in varying degrees.
Resumo:
This paper argues that the Phillips curve relationship is not sufficient to trace back the output gap, because the effect of excess demand is not symmetric across tradeable and non-tradeable sectors. In the non-tradeable sector, excess demand creates excess employment and inflation via the Phillips curve, while in the tradeable sector much of the excess demand is absorbed by the trade balance. We set up an unobserved-components model including both a Phillips curve and a current account equation to estimate ‘sustainable output’ for 45 countries. Our estimates for many countries differ substantially from the potential output estimates of the European Commission, IMF and OECD. We assemble a comprehensive real-time dataset to estimate our model on data which was available in each year from 2004-15. Our model was able to identify correctly the sign of pre-crisis output gaps using real time data for countries such as the United States, Spain and Ireland, in contrast to the estimates of the three institutions, which estimated negative output gaps real-time, while their current estimates for the pre-crisis period suggest positive gaps. In the past five years the annual output gap estimate revisions of our model, the European Commission, IMF, OECD and the Hodrick-Prescott filter were broadly similar in the range of 0.5-1.0 percent of GDP for advanced countries. Such large revisions are worrisome, because the European fiscal framework can translate the imprecision in output gap estimates into poorly grounded fiscal policymaking in the EU.
