Suchergebnisse

This work contributes to the literature about the Euro-area monetary policy analysing the effects of unconventional measures, the conduct of monetary policy by the European central bank and the effects of the crisis on the economic structures of member countries. The first chapter deals with the effects of unconventional monetary policy measures implemented since 2007 to cope with the financial and sovereign debt crisis. The focus is on government bond yields as they as they became the direct expression of the sovereign debt crisis in the Euro area, and it deals with two aspects of the transmission mechanism: the first one is the expectational channel and the second one is the effect of liquidity injections. Results show that the effect of unconventional monetary policies are not unique inside the monetary union but vary across countries and over time. In particular, the unfolding of the European sovereign debt crisis completely changed the impact of liquidity injections as they led to a rise in interest rate spreads for highly indebted countries. The second chapter analyzes the conduct of monetary policy in the Euro area over the period 1999-2013 by estimating several monetary policy reaction functions with time-varying coefficients and heteroskedastic error terms. This allows to evaluate whether relevant shifts in the conduct of monetary policy occurred and whether the current financial crisis had an influence on that. Results show that the sensitivity of the ECB towards inflation and output gap changed along the time span and mainly after 2008 as it also started to respond to new variables like bank loans and sovereign bond yield spreads. The third chapter analyzes the effects of the recent economic crisis in the Euro area in light of international structural macroeconomic relationships. This is achieved through a conditional forecast exercise. By comparing the forecast with the actual path of the Euro-area variables it is possible to evaluate whether, given the effects of the crisis in US, pre-crisis structural macroeconomic relationship are able to explain Euro-area economic developments during the crisis. Results show that the effects of the crisis have been much more heterogeneous than what implied by structural relationships and the crisis shock suggesting that either a structural break or a strong idiosyncratic shock affected the Euro area after 2008. Finally, the sovereign debt crisis by itself seems not to be able to explain neither business-cycle and inflation heterogeneity, nor the recent recession and economic slack.

Seit 1994 unterhält die Europäische Union (EU) mehrjährige Forschungsprogramme mit dezidierten sozial- und geisteswissenschaftlichen Themenschwerpunkten. Die Dissertation zeigt, wie sich die Reichweite, Finanzierung und Förderungsinstrumente weiterentwickelt haben und wie diese Entwicklungen in einem Zusammenhang mit den Veränderungen der Rolle von Forschungspolitik in der EU stehen. Die unterschiedlichen AkteurInnen ? Institutionen der EU, Stakeholder und Öffentlichkeit ? werden hinsichtlich ihrer Rolle in der Prioritätensetzung untersucht. EU-Forschungspolitik hat sich von einem wirtschaftspolitisch dominierten zu einem eigenständigen Politikbereich entwickelt. In der Arbeit wird ein analytisches Konzept entworfen, welches eine Unterscheidung zwischen Elementen der Forschungspolitik, die auf andere (Politik-)Bereiche abzielen und solche Elementen, die auf die Institutionen der Wissenschaft an sich abzielen, ermöglicht. Zweitens, wird die Rolle der AkteurInnen anhand von Konzeptionen der Zivilgesellschaft aus Theorien der deliberativen Demokratie interpretiert. Drittens, nutzt die Arbeit Konzepte der Wissenschaftssoziologie ? wie sozial robustes Wissen und die Kontextualisierung von Wissen ? zur Interpretation der Themenschwerpunktprogramme aus Sicht der wissenschaftlichen Wissensproduktion. Die empirischen Untersuchungen und Beobachtungen zeigen, zum einen, dass die EU Forschungspolitik durch andere Politikbereiche dominiert bleibt. Zum anderen, dass die Einbeziehung der Öffentlichkeit in die Politik im Diskurs der EU, insbesondere im Rahmen der Forschungspolitik, hervorgehoben wird, jedoch diese diskursiven Äußerungen nur beschränkt in die Praxis umgesetzt werden. Aus der Analyse der Prozesse und Praktiken zeigt sich, dass der Kreis an involvierten AkteurInnen eng definiert bleibt und dass die Einführung neuer Themenschwerpunkte von Entwicklungen der EU Politik allgemein abhängen, so dass auch der Grad an Veränderung der Ausschreibungstexte eingeschränkt bleibt. ; Since 1994, the European Union?s (EU) multiannual research programmes contain dedicated thematic social sciences and humanities (SSH) priorities. This thesis shows how the scope, means for funding and the policy instruments used to fund SSH research in these programmes have broadened and developed hand in hand with the changing function of research policy in the EU. The role of different actors ? the institutions of the EU, stakeholders and the wider public ? in priority setting of EU research funding are studied. EU research policy has evolved from being primarily a means to support economic policies to constituting a policy in its own right. The conceptions used to investigate this change and the roles of different actors are based on: first, an analytical differentiation between elements of research policy with the aim of supporting other policies and elements of research policy aiming at the institutions of research per se. Second are conceptions of the actors participating that are connected with notions of civil society found in theories of deliberative democracy, and third are ideas relating to the sociology of knowledge such as socially robust knowledge and the social contextualization of knowledge-making to interpret targeted research programmes in the light of knowledge-making. The empirical findings and observations of this thesis suggest, first, that research policy remains dominated by other aims. Second, the discourse of the EU institutions proclaiming the need to include stakeholders in decisions that affect them is particularly emphasized in research policy documents. Third, the practices of research policy-making on different levels only include stakeholders up to a certain degree, while SSH research programmes remain closely tied to the introduction of new policy dimensions on the EU level. Thus, the malleability of research targets in specific calls for proposals remains restricted to the boundaries set by the overarching policy dimension. ; Rafael Yann Schögler ; Zsfassung in dt. und engl. Sprache ; Graz, Univ., Diss., 2014 ; OeBB ; (VLID)240278

Abstract: Freedom of contract is a fundamental principle of European private law. It is also implicitly recognized as a general principle of European Community Law. An open market economy with free competition, which the Treaty aims to implement (see Article 4 I), can only be achieved if contractual freedom in connection with a system ensuring effective competition within the internal market is guaranteed. However, the acknowledgement of contractual freedom as a general principle of Community Law stands in notable contrast to the European legislation on contract law. This legislation may be characterized by its fragmentation into numerous legal instruments which address issues of contract law by a great number of mandatory provisions in a rather selective and isolated manner. Even more problematic are the intrusions into the freedom of contract embodied in the various anti–discrimination directives, which go far beyond the traditional field of labour relations and directly impair the freedom of unhindered selection of a contractual partner in general business life. This conflict between the anti–discrimination provisions and the market economy principle may become even more apparent when the Charter of Fundamental Rights comes into force. Anchored within the Charter are not only several aspects of the freedom of contract, but also an extensive anti–discrimination provision. Directly applied in private law, it might endanger the market economy as the foundation of the European Union.
Résumé: La liberté de contracter constitue le principe fondamental du droit privé européen. Il y a bien longtemps qu'elle est également reconnue comme un des principes généraux du droit de l'Union européenne. Une économie de marché ouverte gouvernée par la libre concurrence qui est envisagée par l'Art. 4 I CE ne peut être mise en place qu'en lien avec la liberté de contracter et la protection effective de la concurrence. Or, la reconnaissance de la liberté de contracter comme un principe général du droit de L'Union Europeenne fait clairement contraste à la législation européenne concernant le droit des contrats. Celle–ci est justement caractérisée par sa nature impérative et par sa fragmentation en plusieurs actes de législation successifs, qui ne s'adressent aux problèmes différents que de manière sélective et sans cohérence. Un véritable danger à la liberté de contracter émane des différentes directives anti–discrimination qui, désormais, vont bien au–delà du domaine initial du droit du travail. De cette façon celles– ci empiètent sur la liberté d'accepter ou de refuser un partenaire de contrat dans les relations civiles en général. Ceci rend manifeste un confl it avec les principes d'une économie de marché ouverte qui pourrait être considérablement accentué après que la Charte des droits fondamentaux sera mise en vigueur. Bien que celle–ci protège quelques aspects de la liberté de contracter, son Art. 21 pourrait se prêter à une interprétation dans le sens d'une stipulation anti–discriminatoire globale, qui, si appliquée directement aux rapports juridiques privés, menacerait le principe d'une économie ouverte fi gurant à la base de l'Union Européenne

This paper analyzes the evolution of agricultural product specialisation at the farm and county levels in Spain from 1979 to 1997. This period covers all the stages of the gradual implementation of the Common Agricultural Policy and the integration of the Spanish agriculture into the European Market. A multiple product version of Theil and Finizza's indices of segregation is used to decompose farm product specialisation into county specialisation with respect to the national level and farm specialisation within counties. Using a probit specification, we test whether changes in specialisation are driven by comparative advantage at regional level or have been policy induced. Our results confirm the existence of increasing county specialisation and highlight the fact that counties which were initially more specialised in export-oriented products have shown the largest increase in specialisation. ; We acknowledge financial support from the Spanish Ministry of Agriculture, Project Number 680. We acknowledge financial support from DGI, Grant BEC 2000-0170 and SEC 1999-135E

If European action is necessary for the unification of liabilities in the European construction industry, it may be wiser to commence Community action by focusing on the specific interests of private consumers rather than seeking to develop a European Code covering all aspects of private construction law. The aim of this paper is to explain my preference for this focused approach and, by comparing the current state of the Law in England and in France, to establish the points of convergence that could constitute the basis of European intervention in that field. I will specifically deal with the differing approaches taken by both countries to identical social problems. In conclusion, I suggest a dual approach to harmonisation in the housing construction sector. After having fixed, in a European legislative instrument, the objectives of the substantive minimal protection that every consumer should be able to enjoy across Europe, Member States should be encouraged to provide self-regulatory bodies – or potentially even one international self-regulatory body at the European level - for the attainment of these objectives. This "co-regulation" mechanism, applied to my comparative study of French and English consumer protection in the housing sector, suggests that very few modifications at a national level in both countries would be required to meet the suggested harmonisation. ; Peer reviewed

In this paper we examine statistical relationships among European carbon markets from 2005 to 2010. We use a time-series approach using 1,220 daily (spot and forward) price data observations from Phase I and Phase II of the European Union Emissions Trading Scheme (EU ETS). Procedures such as unit root, cointegration, vector error correction models (VECMs), Granger causality, and generalised impulse response functions are employed in the analysis. The results reveal dynamic linkages among spot and forward carbon prices in Phases I and II, indicating that joint price discovery is taking place in carbon markets (at least in the short-run). However, evidence of constrained long-run information flows in Phase II, as indicated by the joint short- and long-run Granger causality testing, may be problematic for policy makers. This finding suggests that the coordinated policies designed to improve the operation and transparency of the EU ETS in Phase II may have actually been counter-effective. If carbon pricing mechanisms are dysfunctional, this has implications for the informational efficiency of carbon markets in Phase II and beyond, thus signalling the possibility of arbitrage and other profitable trading opportunities for market participants. Further research could attempt to address these issues.

Bromley ponders EU (European Union) nations' roles, the group's groundbreaking international cooperation, its division of political authority, & the nature of that authority's execution. Also examined are EU members' transformation through integration, the nature of the adaptive political form, & that form's possible relation to member states' politics. The demise of European imperialism is chronicled from the late 19th century through WWII. Shifts in power & alliance are evidenced by documentation of the General Agreement on Tariffs & Trade, the International Monetary Fund, & the North Atlantic Treaty Organization. Discussion of the EU's implementation & governance includes the 1951 treaty establishing the European Coal & Steel Communities & the 1957 Treaties of Rome. The EU's most significant supranational aspects are explored. The complexities & possibilities arising from EU member states' deference to the group's supranational status are elucidated. Descriptive instances of conflict resolution are included, & the role of international legislative organizations is discussed. 11 References. M. C. Leary

Examines questions related to the division of Cyprus, the Cyprus policy of non-alignment, and the impact on Greco-Turkish relations.

In many countries civil procedure is considered a subject hardly lending itself for scholarly investigation. To prove that this was not always the case, the present article starts by outlining the history of civil procedural law as an academic discipline. The outline shows that civil procedure was considered to be worthy of scholarly attention up to the period of codification. The situation changed after the laws of civil procedure in the various European countries had been codified. One of the reasons was the decline in significance of legal history and comparative law as a result of codification. The article subsequently discusses two questions of civil procedure particularly deserving academic study within the context of contemporary Europe. The questions are the following: 1) To what extent can the law of civil procedure be regarded as an international, European discipline? 2) What roles can legal history and comparative law play in shaping the future law of civil procedure?

That policies are fragmented and government is siloed have become an omnipresent saying of modern welfare states. Much of scholarly attention has also been directed to how to address this from a central government perspective, most notably through concepts of joined-up government that combined with the vertical aspects of modern governance can impose a richer multi-level perspective. Embedded in such ambitions are establishing efficient policy integration and coordination that would counteract silos and fragmentation. Particularly wicked policy problems, those being without a given solution and being complex and unpredictable, create problems for efficient decision-making and implementation. To embark upon such problems, we examine policy integration and coordination within the complex area of Swedish migration policies. Drawing from extensive qualitative material we notice that elements of that character does not move in a concerted manner across the examined field. In terms of policy integration, we only see weak examples of joint objectives and platforms for decision-making, despite the fact that the government has taken a stronger grip on the regulation of migration policy and aim to increase integration. More traces of policy coordination can, though, be revealed. Although such actions undoubtedly lowers fragmentation through ways of distribution information, to which extent all involved actors share the same goal formulation is more unclear. Importantly, crucial variations are found across administrative tiers, with positive examples spurring sub-nationally. Aims to counteract siloism and fragmentation in Swedish migration policy is mainly reached at subnational levels through elements of policy coordination from a bottom-up approach, though encouraged by the government through incentives and funding.

Policies of the European Union cover a range of social, environmental and economic aspirations and the current environmental directives and laws have evolved from a suite of norms which have changed over time. These may be characterised loosely according to 'Three Ps': Practical, those taking an anthropocentric approach; Pure, those taking an ecocentric approach and Popular, those appealing to the general public. In this paper I use these three perspectives as a tool to analyse the complexity and identify contradictions in European aquatic environmental legislation. Some trade-offs between development and conservation are identified and used to characterise the potential qualities of more successful agency to achieve environmental goals in the governance of European aquatic environments.

"Does the European Union need closer fiscal integration, and in particular a stronger fiscal centre, to become more resilient to economic shocks? This book looks at the experience of 13 federal states to help inform the heated debate on this issue. It analyses in detail their practices in devolving responsibilities from the subnational to the central level, compares them to those of the European Union, and draws lessons for a possible future fiscal union in Europe. More specifically, this book tries to answer three sets of questions: What is the role of centralized fiscal policies in federations, and hence the size, features and functions of the central budget? What institutional arrangements are used to coordinate fiscal policy between the federal and subnational levels? What are the links between federal and subnational debt, and how have subnational financing crises been handled, when they occurred? These policy questions are critical in many federations, and central to the current discussions about future paths for the European Union. This book brings to the table new, practical insights through a systematic and comprehensive comparison of the EU fiscal framework with that of federal states. It also departs from the decentralization perspective that has been prominent in the literature by focusing on the role of the centre (which responsibilities are centralized at the federal level and how they are handled, rather than which functions belong to the local level). Such an approach is particularly relevant for the European Union, where a fiscal union would imply granting new powers to the centre"--