scholarly journals European Monetary Measures to Support Economic Recovery

2017 ◽  
Vol 4 (2) ◽  
pp. 101
Author(s):  
Bogdan Munteanu
Keyword(s):  
Economic Growth ◽  
Cost Benefit Analysis ◽  
Banking System ◽  
Cost Benefit ◽  
Economic Recovery ◽  
Fiscal Policies ◽  
The European Union ◽  
Benefit Analysis ◽  
Stress Tests ◽  
European Banking

The present article aims to look at the current monetary measures deployed by ECB to address the economic context of below expectations economic growth and inflation, taking into account the expression of monetary policy via the Expanded Asset Purchase Programme. This tool is used to push financial liquidity into the economies of the European Union, in a banking system affected by the crisis and which has been shown to be still at risk by the latest stress tests conducted by the European Banking Authority. The article points out why monetary measures are important to support the economic recovery in Europe, in an interventional context of monetary and fiscal policies of governing authorities, appealing to economic models to explain how the policies contribute to economic growth and development. The methodology used by the article is economic analysis and rationale, cost-benefit analysis, statistics of money market and banking industry indicators, etc. The conclusion emerging from this article is that the Asset Purchase Programme of ECB led in a certain degree to an improvement in the macro-economic environment on yields and on its transmission channels into the financial system and into economies.

Humanizing Cost-Benefit Analysis

2011 ◽  
Vol 2 (1) ◽  
pp. 3-7 ◽  
Author(s):  
Cass R. Sunstein
Keyword(s):  
Economic Growth ◽  
Adverse Effects ◽  
Cost Benefit Analysis ◽  
Job Creation ◽  
Cost Benefit ◽  
Economic Recovery ◽  
Benefit Analysis ◽  
Public Comment ◽  
Economic Difficulty ◽  
Regulatory Problems

In the last twenty months, the Obama Administration has been taking an approach to regulation that is distinctive in three ways.First, we have approached regulatory problems not with dogma or guesswork, but with the best available evidence of how people really behave.Second, we have used cost-benefit analysis in a highly disciplined way, not to reduce difficult questions to problems of arithmetic, but as a pragmatic tool for cataloguing, assessing, reassessing, and publicizing the human consequences of regulation – and for obtaining public comment on our analysis. This emphasis on human consequences – on reducing or eliminating unjustified burdens on the private sector and on ensuring that high costs are justified by high benefits – is especially important in a period of economic difficulty. We have worked to put into place important safeguards while also making regulation compatible with the economic recovery, and while reducing the risk that costly regulations will have adverse effects on job creation, wages, prices, and economic growth as a whole.

scholarly journals Dr Torben Holvad

2021 ◽  
Vol 12 (1) ◽  
pp. 11-13
Author(s):  
Aránzazu Berbey Álvarez
Keyword(s):  
European Union ◽  
Quantitative Methods ◽  
Cost Benefit Analysis ◽  
Multicriteria Analysis ◽  
Cost Benefit ◽  
Data Envelopment ◽  
The European Union ◽  
Benefit Analysis ◽  
Transport Economics ◽  
European University

Torben Holvad is Analysis Team Leader at the European Union Agency for Railways (France). He obtained Economics degrees from Copenhagen University (MSc) and the European University Institute in Florence (PhD). He has more than 30 years of experience in applied economic analysis. His skills and expertise correspond to backgrounds like: Quantitative methods, Data Envelopment Analysis, Impact Assessment, Cost Benefit Analysis, Transport Economics, Multicriteria analysis, Economics of regulation, Data analysis, Health economics.

Improving Assessment of Transport Policies by Dynamic Cost-Benefit Analysis

2003 ◽  
Vol 1839 (1) ◽  
pp. 107-114 ◽  
Author(s):  
Wolfgang Schade ◽  
Werner Rothengatter
Keyword(s):  
Network Effects ◽  
Cost Benefit Analysis ◽  
Dynamic Assessment ◽  
Cost Benefit ◽  
Transport Infrastructure ◽  
Transport Sector ◽  
The European Union ◽  
Benefit Analysis ◽  
Dynamic Approach ◽  
Economic Sectors

In the history of cost-benefit analysis (CBA), macroeconomic and micro-economic foundations have been developed. The latter has dominated in transport CBA during the last decades. The most widely used CBA approach can be characterized as comparative static and based on separate partial modeling. However, when it comes to significant indirect effects in the economic, social, and environmental systems connected with the transport system, alternative approaches to the microeconomic approach become inevitable. A system dynamics platform was developed that allows for a dynamic CBA integrating the most important indirect effect of transport policies. The approach was tested with large infrastructure programs and transport policy packages. Results of the dynamic approach reveal that the choice of the most favorable policy can change over time and depend on the time horizon defined for the analysis. In particular the dynamic approach allows for a clear allocation of costs and benefits to periods of time, which might be valuable information for policy acceptance and implementation. This research is integrated within a stream of European Commission projects on integrated and dynamic assessment, starting with the Assessment of Transport Strategies project (ASTRA) and extended by the projects Transport Infrastructure and Policy: A Macroeconomic Analysis for the European Union (TIPMAC) and Integrated Appraisal of Spatial Economic and Network Effects of Transport Investments and Policies (IASON). IASON focuses on analysis of indirect, second-round, or induced benefits and costs that occur through feedback effects between the transport sector and other economic sectors.

A Concise Overview of Penology and Penal Practice in Slovenia

2011 ◽  
Vol 91 (4) ◽  
pp. 398-424 ◽  
Author(s):  
Gorazd Meško ◽  
Chuck Fields ◽  
Tomaž Smole
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Criminal Court ◽  
The European Union ◽  
Benefit Analysis ◽  
Inmate Population ◽  
Prison Overcrowding ◽  
History Of ◽  
Probation Service ◽  
Near Future

Although Slovenia has one of the lowest incarceration rates in the world, there are not enough facilities to house the current inmate population, and prison overcrowding is becoming a serious problem in the country. This article addresses this issue, beginning with an in-depth history of penology and penal practices in Slovenia and concluding with suggestions to deal with this potentially disastrous situation. If the imprisonment rate in Slovenia does not decrease in the near future, or if Slovenia cannot create more capacity, prison overcrowding will grow beyond acceptable standards. The present situation in Slovene prisons calls for a multidisciplinary research and cost/benefit analysis. The Slovenian prison administration is challenged by its budget and staff resources. However, it is argued that the problem goes beyond this capacity and requires a serious reconsideration of penal policy, criminal court practice, and parole committee practices as well. It is also necessary to emphasize that Slovenia is the only country in the European Union without a probation service system.

scholarly journals Cost-Benefit Analysis and European Union Cohesion Policy: Economic Versus Financial Returns in Investment Project Appraisal

2018 ◽  
Vol 9 (1) ◽  
pp. 147-180 ◽  
Author(s):  
Massimo Florio ◽  
Valentina Morretta ◽  
Witold Willak
Keyword(s):  
European Union ◽  
European Commission ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Economic Benefits ◽  
Rate Of Return ◽  
Policy Framework ◽  
The European Union ◽  
Benefit Analysis ◽  
Cohesion Policy

This paper investigates the role of cost-benefit analysis (CBA) in the context of the European Union (EU) Cohesion Policy. After presenting the EU policy framework and the CBA guidelines adopted by the European Commission, we perform an empirical analysis drawing from a dataset of around 1000 major project applications, submitted during the period 2007–2013 by 22 European countries, and representing almost €180 billion of investment. A distinctive feature of the current CBA approach adopted by the European Commission is that applications for funding must provide a forecast of both the project’s financial rate of return (FRR) and economic rate of return (ERR). While the former represents the financial profitability of the project from a private investors’ perspective, the latter reveals its socio-economic benefits for the whole society. The difference between ERR and FRR mainly depends on the use of shadow prices, the inclusion of externalities and other nonmarket effects in the estimation of ERR, whilst the FRR is based on market prices. We find that, on average, the FRR is slightly negative ($-2.9$%) and the ERR is positive (16.2%). ERR and FRR are positively correlated on average with differences across sectors. We discuss these findings and suggest further research needs.

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