The Contribution of Income Mobility to Economic Insecurity in the US and Spain during the Great Recession

Author(s):  
Olga Cantó ◽  
David O. Ruiz
Author(s):  
Abraham L. Newman ◽  
Elliot Posner

Chapter 6 examines the long-term effects of international soft law on policy in the United States since 2008. The extent and type of post-crisis US cooperation with foreign jurisdictions have varied considerably with far-reaching ramifications for international financial markets. Focusing on the international interaction of reforms in banking and derivatives, the chapter uses the book’s approach to understand US regulation in the wake of the Great Recession. The authors attribute seemingly random variation in the US relationship to foreign regulation and markets to differences in pre-crisis international soft law. Here, the existence (or absence) of robust soft law and standard-creating institutions determines the resources available to policy entrepreneurs as well as their orientation and attitudes toward international cooperation. Soft law plays a central role in the evolution of US regulatory reform and its interface with the rest of the world.


2021 ◽  
Vol 118 ◽  
pp. 106873
Author(s):  
Nina Mulia ◽  
Yu Ye ◽  
Katherine J. Karriker-Jaffe ◽  
Libo Li ◽  
William C. Kerr ◽  
...  

Empirica ◽  
2019 ◽  
Vol 47 (4) ◽  
pp. 835-861
Author(s):  
Maciej Ryczkowski

Abstract I analyse the link between money and credit for twelve industrialized countries in the time period from 1970 to 2016. The euro area and Commonwealth Countries have rather strong co-movements between money and credit at longer frequencies. Denmark and Switzerland show weak and episodic effects. Scandinavian countries and the US are somewhere in between. I find strong and significant longer run co-movements especially around booming house prices for all of the sample countries. The analysis suggests the expansionary policy that cleans up after the burst of a bubble may exacerbate the risk of a new house price boom. The interrelation is hidden in the short run, because the co-movements are then rarely statistically significant. According to the wavelet evidence, developments of money and credit since the Great Recession or their decoupling in Japan suggest that it is more appropriate to examine the two variables separately in some circumstances.


2015 ◽  
Vol 76 (04) ◽  
pp. e499-e504 ◽  
Author(s):  
Kaushal Mehta ◽  
Holly Kramer ◽  
Ramon Durazo-Arvizu ◽  
Guichan Cao ◽  
Liping Tong ◽  
...  

2019 ◽  
Vol 54 (5) ◽  
pp. 314-318 ◽  
Author(s):  
Christiaan Luigjes ◽  
Georg Fischer ◽  
Frank Vandenbroucke

Abstract The system of unemployment insurance (UI) used in the United States has often been cited as a model for Europe. The American model illustrates that it is possible to create and maintain a UI system based on federal-state co-financing that intensifies during economic crises and thus reinforces protection and stabilisation. Central requirements and conditional funding can improve the aggregate protection and stabilisation capacity of the system. However, the architecture of the US system financially incentivises states to organise retrenchment of their own efforts for UI, which in turn leads to a divergence of benefit generosity and coverage levels. During the Great Recession, the federal government mitigated these incentives for retrenchment through minimum requirements attached to federal financial intervention. With regards to the European unemployment re-insurance system debate, the US experience implies both positive and encourageing conclusions and cautionary lessons.


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