5 resultados para INSIGHTS

em Archive of European Integration


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This paper focuses on the key features of EU social policy and the way it has been interpreted and seeks to identify new directions for study. EU social policy is considered along two main dimensions: its content and hallmark features and the main approaches to conceptualizing and theorizing it. Rather than the classic negative depiction of EU social policy, this piece suggests that it is more significant than usually allowed, not least because the empirical and theoretical lenses which have been applied to it were developed for other purposes. The implication is that developments in EU social policy are often overlooked, not least in how the EU has carved out a role for itself by constantly framing and reframing discourses relevant to social policy and social problems in an attempt to both influence how social actors at all levels of governance approach policy and secure their acceptance of its role in social policy. Therefore analyzing EU social policy outside of the traditional frames reveals interesting and significant developments especially around innovation in social policy and the attempt to legitimate the EU as a social policy actor.

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‘A bizarre phenomenon,’ Der Spiegel concluded, after trying to figure out why youngsters left Germany to become foreign fighters in Syria. The magazine painted a portrait of two thirty-somethings with similar background and the same hobby – martial arts. One became director of a martial arts school in Hamburg, the other became a terrorist poster boy in Syria.1

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‘A bizarre phenomenon,’ Der Spiegel concluded, after trying to figure out why young people left Germany to become foreign fighters in Syria. The magazine painted a portrait of two thirty-somethings with similar backgrounds and the same hobby – martial arts. One became director of a martial arts school in Hamburg, the other became a terrorist poster boy in Syria.2

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Central banks in the developed world are being misled into fighting the perceived dangers of a ‘deflationary spiral’ because they are looking at only one indicator: consumer prices. This Policy Brief finds that while consumer prices are flat, broader price indices do not show any sign of impending deflation: the GDP deflator is increasing in the US, Japan and the euro area by about 1.2-1.5%. Nor is the real economy sending any deflationary signals either: unemployment is at record lows in the US and Japan, and is declining in the euro area while GDP growth is at, or above potential. Thus, the overall macroeconomic situation does not give any indication of an imminent deflationary spiral. In today’s high-debt environment, the authors argue that central banks should be looking at the GDP deflator and the growth of nominal GDP, instead of CPI inflation. Nominal GDP growth, as forecasted by the major official institutions, remains robust and is in excess of nominal interest rates. They conclude that if the ECB were to set the interest rate according to the standard rules of thumb for monetary policy, which take into account both the real economy and price developments of broader price indicators, it would start normalising its policy now, instead of pondering over additional measures to fight deflation, which does not exist. In short, economic conditions are slowly normalising; so should monetary policy.