scholarly journals Full employment as a possible objective for EU policy, I: A perspective from the point of view of the monetary circuit

2008 ◽  
Vol 55 (1) ◽  
pp. 89-114
Author(s):  
Massimo Cingolani
Keyword(s):  
Policy Analysis ◽  
Full Employment ◽  
Empirical Studies ◽  
Point Of View ◽  
Economic Policies ◽  
Equilibrium Conditions ◽  
The Us ◽  
Economic Reality ◽  
Monetary Circuit ◽  
The Eu

In two recent contributions Alain Parguez and Jean-Gabriel Bliek argued in favor of assigning a full employment objective to European economic policies and their coordination (Bliek and Parguez (2007) and Parguez (2007b)). Their argument is based on the approach of the monetary circuit, whose treatment of full employment is the object of this article. The approach is presented here as emblematic of ?out of equilibrium? models, i.e. models where the equilibrium conditions of pure competition are not fulfilled. A forthcoming contribution will show how the description of economic reality suggested by the circuit can help interpreting recent macroeconomic developments in the US, Canada, Japan and the EU and will discuss some empirical studies confirming its relevance for policy analysis.

scholarly journals Full employment as a possible objective for EU policy II: Review of some empirical aspects

2008 ◽  
Vol 55 (2) ◽  
pp. 167-184 ◽  
Author(s):  
Massimo Cingolani
Keyword(s):  
Economic Policy ◽  
Empirical Evidence ◽  
Full Employment ◽  
Previous Article ◽  
Economic Policies ◽  
Previous Issue ◽  
European Economic ◽  
The Us ◽  
Historical Periods ◽  
The Eu

A contribution appeared in the previous issue of Panoeconomicus reviewed the theoretical arguments brought by Alain Parguez and Jean Gabriel Bliek in support of their idea of assigning a full employment objective to European economic policies and their coordination (Bliek and Parguez (2007) and Parguez (2007b)). Without pretending at exhaustiveness, this contribution reviews and partly extends the empirical evidence they presented in support of their argument with reference to selected macroeconomic developments in several countries and different historical periods, in particular for the US, Canada, Japan and the EU. It confirms the descriptive power of the circuit and its relevance for the discussion of alternative economic policies, in particular in the field of employment. Together with the previous article, it shows that the circuit can be used to update economic policy thinking, nourishing also the necessary democratic debate amongst police alternatives. .

Hungary: the policy of maneuvering between the EU, USA, China, and Russia

2021 ◽  
pp. 58-70
Author(s):  
Oleg G. Volotov ◽  
◽  
Sergei O. Volotov ◽  
Keyword(s):  
Economic Development ◽  
Point Of View ◽  
Political Rights ◽  
Special Position ◽  
Anti Semitism ◽  
The Us ◽  
Social And Economic Development ◽  
Standing Up ◽  
The Eu

In recent years, Hungary has frequently declared its special position on various issues, which differs from the point of view represented by Brussels. Brussels has, in return, criticized the Hungarian administration for restricting political rights, the growing role of state in the country's social and economic development, its persistent refusal to accept compulsory migrant quotas, its confrontation with Ukraine, and even its alleged anti-Semitism. The disaffection of Brussels with Hungarian Government policies was reflected in the Sargentini Report, which led to the threat of launching a procedure under Article 7 of the Treaty of Lisbon, which would have potentially suspended Hungary's voting rights in the EU and cut off its EU funding. Despite the existing divisions, Hungary values its EU and NATO memberships, as well as the improvements in relations with the US, although it still strives for independence while standing up for its own sovereignty. One of the tools of Hungarian foreign policy is the turn to the East, first and foremost to China and Russia, that allows Hungary to maneuver in a more effective way between the contemporary centers of power.

Origination and Distribution of Debt: Risks and Regulatory Solutions

2011 ◽  
Vol 2 (3) ◽  
pp. 340-355
Author(s):  
Anselm Lenhard
Keyword(s):  
Financial Crisis ◽  
Agency Costs ◽  
Empirical Studies ◽  
Capital Requirements ◽  
Empirical Literature ◽  
Market Mechanisms ◽  
Loan Sales ◽  
The Us ◽  
Major Factors ◽  
The Eu

This article focuses on misaligned incentives in the lending process caused by the shift from the traditional relationship banking model to a more transaction-oriented ‘originateto-distribute’ model of bank finance as one of the major factors contributing to the financial crisis of the years 2007–2009. Based on a theoretical analysis of banks as financial intermediaries and the agency costs involved if banks distribute assets they have created to other parties in the financial system, empirical studies are reviewed which demonstrate that market mechanisms apparently contain these agency costs in loan syndications and loan sales, but failed to do so in securitisations during the years before the onset of the financial crisis. The EU has already reacted to this breakdown of market mechanisms by an amendment to the Capital Requirements Directive with the purpose of aligning incentives in securitisation transactions by getting more securitiser ‘skin in the game’. Similar legislation has been adopted in the US. This article places the EU and US response to perceived shortcomings in securitisations in the context of the theoretical and empirical literature and discusses alternative regulatory solutions.

scholarly journals What's behind GM food trade disputes?

2005 ◽  
Vol 4 (2) ◽  
pp. 203-228 ◽  
Author(s):  
LEE ANN JACKSON ◽  
KYM ANDERSON
Keyword(s):  
Global Economy ◽  
Dispute Settlement ◽  
Empirical Studies ◽  
The United States ◽  
The European Union ◽  
Trade Disputes ◽  
Gm Food ◽  
Wto Dispute Settlement ◽  
The Us ◽  
The Eu

Over the past decade, the United States (US) and the European Union (EU) have implemented widely divergent regulatory systems to govern the production and consumption of genetically modified (GM) agricultural crops. In the US, many GM varieties have been commercially produced and marketed, while in the EU few varieties have been approved: a de facto moratorium limited EU production, import and domestic sale of most GM crops from late 1998 to April 2004, and since then strict labelling regulations and a slow approval process are having a similar effect. The EU policies have substantially altered trade flows and led in September 2003 to the WTO establishing a WTO Dispute Settlement panel to test the legality of European policy towards imports of GM foods. This paper seeks to better understand the economic forces behind the different regulatory approaches of the US and the EU. It uses a model of the global economy (GTAP) to examine empirically how GM biotechnology adoption would affect the economic welfare of both adopting and non-adopting countries in the absence of alternative policy responses to this technology, and in their presence. These results go beyond earlier empirical studies to indicate effects on real incomes of farm households, and suggest the EU moratorium on GM imports helps EU farmers even though it requires them to forego the productivity boost they could receive from the new GM biotechnology.

Development of an image of russia as a country conducive to tourism

10.12737/7465 ◽  
2014 ◽  
Vol 8 (7) ◽  
pp. 0-0
Author(s):  
Татьяна Кривошеева ◽  
Tatiana Krivosheeva
Keyword(s):  
Growth Rate ◽  
Russian Federation ◽  
International Tourism ◽  
Economic Policies ◽  
Foreign Countries ◽  
Tourist Flows ◽  
The Us ◽  
Tourism Activity ◽  
The Russian Federation ◽  
The Eu

The materials of the paper refer to the grouping and rating of countries which are donors of international tourism in order to determine the activity of marketing efforts in the field of image formation of the Russian Federation as a country favorable for tourism. The article contains generalized mixed trends affecting inbound tourism, which formed in restrictive political and economic policies imposed on Russia by the EU, the US and other countries. In order to optimize the form and content of measures to promote the tourist image of Russia and to determine the priority and the most important geographical areas for the implementation of these measures the analysis was conducted according to the following criteria: volume of outbound tourist flows of foreign countries; the growth rate of outbound tourist flows of foreign countries; tourism activity of the populations of foreign countries; number of received foreign tourists by Russian according to their origin. The results of the analysis, which is also reflected in the materials of the article, make possible to distinguish four groups of countries on the trends in international outbound tourist flows, three groups of countries according to the trends in inbound flows in Russia, 4 groups of countries for the development of outbound tourist flows to Russia in the first half of the year 2014 in relation to the 1st half of 2013, four groups of countries on the activity of marketing efforts and specialization in promotion of Russian tourist product on the market. On the basis of these groups, a list of priority geographic areas to enhance marketing efforts to create a tourist image of the Russian Federation is suggested and also outlined are the directions and forms of work on priority markets in foreign countries.

Russian economy on the background of global pandemics: the basic contours of «new reality»

2020 ◽  
pp. 4-15
Author(s):  
I.I. Smotritskaya
Keyword(s):  
World Economy ◽  
Russian Economy ◽  
Current State ◽  
The Us ◽  
The World ◽  
Economic Reality ◽  
Short And Long Term ◽  
Characteristic Features ◽  
The Eu

The article deals with conceptual issues related to the adaptation of the Russian economy to the new financial and economic reality that is emerging as a result of the COVID-19 epidemic. The current state of the world economy is studied, the main characteristic features of the «new reality» are highlighted, and the complex of anti-crisis measures implemented in the US and the EU is considered. The results of forecast assessments of the consequences of the pandemic for the economy of our country in the short and long term are analyzed; the principles, priorities and vectors of post-crisis development of the Russian economy are substantiated.

Tariffs could fracture EU-US partnership

2018 ◽  
Keyword(s):  
Stock Market ◽  
Market Performance ◽  
Policy Coordination ◽  
Economic Policies ◽  
Content Type ◽  
Downward Pressure ◽  
Stock Market Performance ◽  
The Us ◽  
The Eu

Significance The US administration’s announcement in March to impose tariffs on steel and aluminium imports triggered swift condemnation from Europe. Intense lobbying granted a temporary exemption to the tariffs until May. Further consultations have been launched with Washington to seek clarification over steps to secure a permanent solution. Impacts US tariffs will likely divert more trade to the EU, but that will put downward pressure on prices. Tariffs will drive a deep wedge between Trump and establishment Republicans. Trump’s policy is endangering the close policy coordination and cooperation between Washington and Brussels. Poor transatlantic ties could make EU leaders more willing to take decisive countermeasures if Trump withdraws from the Iran nuclear deal. The slide of US stock futures may be a blow to Trump, who often points to stock market performance as proof of his benign economic policies.

Evolution of the International Movement Boycott, Divestment and Sanctions – BDS

2021 ◽  
pp. 237
Author(s):  
Alexander V. Krylov
Keyword(s):  
Point Of View ◽  
Current Status ◽  
The European Union ◽  
Effective Strategies ◽  
Charitable Foundations ◽  
The Us ◽  
Second Intifada ◽  
Community Budget ◽  
Western Democracies ◽  
The Eu

The article describes insight into the factors and conditions influencing the formation of the international movement BDS including its key subjects and its most effective strategies for achieving all the goals identified. From the authors’ point of view Israel itself, by its extremely cruel and asymmetric measures against the Palestinian resistance to occupation during the second intifada stimulated the rise of the BDS movement popularity and as well as anti-Israeli tendencies in Western democracies. Another, no less important reason for the formation of the BDS is the failure of the peace process for the solution of the Palestinian-Israeli conflict in accordance with the agreements reached in Oslo. Under these complicated circumstances, Palestinian Arab civil society has called on the international community to end the Israeli occupation. The study provided a thorough overview of the main financial sources of the movement. The use of funds from the EU community budget, national budgets of a number of Western states, the largest charitable foundations, etc. is stated. The authors analyze the reasons for the popularity of the movement at the beginning of the 21st century, including in some structural divisions of the UN and the European Union. Special attention is focusing on measures to counter the movement by Israel, the US and some European states. In the conclusion, the study identifies and characterizes the current status of the movement, which is steadily losing its adherents at all levels, including academic and confessional spheres.

Sanctions of the USA and the Policy of Bank of Russia:double Blow to the National Economy

2014 ◽  
pp. 13-29 ◽  
Author(s):  
S. Glazyev
Keyword(s):  
National Security ◽  
Economic Sanctions ◽  
Capital Flight ◽  
Practical Advice ◽  
The Us ◽  
Monetary Authorities ◽  
The Usa ◽  
Simultaneous Adoption ◽  
The Eu

This article examines fundamental questions of monetary policy in the context of challenges to the national security of Russia in connection with the imposition of economic sanctions by the US and the EU. It is proved that the policy of the Russian monetary authorities, particularly the Central Bank, artificially limiting the money supply in the domestic market and pandering to the export of capital, compounds the effects of economic sanctions and plunges the economy into depression. The article presents practical advice on the transition from external to domestic sources of long-term credit with the simultaneous adoption of measures to prevent capital flight.

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