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This volume provides an alternative account of recent economic cooperation in Europe. It argues that, in sharp contrast to the preceding decade of consolidation and constraint, fiscal policy coordination during the Great Recession (2008-2010) presented a novelty: a study in fiscal expansion.

AbstractSince the outbreak of the eurozone's sovereign debt crisis, a range of fiscal policy measures have been adopted at the European Union (EU) and national levels that have given rise to claims of a significant reinforcement of fiscal policy constraint. Given the prominence and reinvigorated political appeal of fiscal rules in the EU and beyond, it is disconcerting how little we actually know about the link between fiscal rules, budgetary outcomes and market behaviour. In this research note, the aim is to take stock of the existing literature and challenge its contribution to the current policy debate on the merits of fiscal rules. Specifically it will focus on problems linked to endogeneity, measurements and contextuality.

European radical left parties (RLPs) are gradually receiving greater attention. Yet, to date, what has received insufficient focus is why such parties have maintained residues of electoral support after the collapse of the USSR and why this support varies so widely. This article is the first to subject RLPs to large-n quantitative analysis, focusing on 39 parties in 34 European countries from 1990 to 2008. It uses the 'supply and demand' conceptual framework developed for radical right parties to identify a number of socio-economic, political-cultural and party-system variables in the external environment that might potentially affect RLP support. The article finds the most persuasive variables to include political culture (past party success), the level of unemployment, Euroscepticism and anti-globalization sentiment, the electoral threshold and competition from Green and radical right parties. The findings suggest several avenues for future research and provide a framework that can be adapted to explain the electoral success of other party families. [Reprinted by permission of Sage Publications Ltd., copyright holder.]

Our study seeks to prove that German Stability Culture is a myth. The concept is a core legitimizing element of economic policy discourse in Germany and used regularly to juxtapose Germany and northern Europe and the euro area periphery. Using Eurobarometer surveys we construct a measurement for Stability Culture which is based on the priority assigned to the fight against inflation. Our empirical analysis covers the 2002 to 2010 timespan and includes 27 European Union Member States. Our results show that the distinction between northern states with an allegedly strong and southern states with an allegedly weak Stability Culture is a myth. Controlling for actual inflation, we find that the northern Member States with an allegedly high Stability Culture are less concerned with price stability than the rest of the EU. ; Intermediate version; University of Edinburgh, School of Law Research Paper 2015/34; Europa Institute Working Paper 2015/06