Suchergebnisse

In the chapter attempts have been taken to assess the potential impact of Polish accession to the euro zone. The analysis covers costs and benefits of monetary integration which are mostly pointed in literature, alluding to the experience of European Union countries. The analysis covers the years 1996-2004. A comparison was made between countries which have adopted the euro in 1999, and those that remained with the national currencies. There are differences between these two groups of countries in increments of GDP per capita, since the introduction of the euro in paper form, despite an earlier convergence of this indicator, however much smaller differences occurred in the case of the inflation rate. Both groups of countries have recorded a significant increase in foreign trade turnover since the inception of the euro area. The data used in the analysis come from the European Statistical Office (Eurostat) and the United Nations Conference on Trade and Development (UNCTAD).

Abstract
While there is a fairly broad consensus regarding the potential adverse effects of generous unemployment benefit insurance on steady-state employment, the short-term effects of benefit reforms are not well-established. This paper contributes to fill this gap by estimating impulse responses to benefit reform "shocks" identified for a panel of OECD countries. Findings indicate that although it takes time for unemployment benefit reforms to pay off, such reforms do not appear to entail any negative short-run effects. There is however some suggestive evidence that reducing unemployment benefits could have negative short-run effects in "bad times".

JEL classification

E02, E24, E60, J38, J58, J68

Abstract. The objective of this article is to evaluate the impacts of alcoholic products on the Cameroonian economy following the government decision on opening alcoholic drink establishments during the period of the highest expansion of coronavirus pandemic. This objective is achieved through a dynamic CGE analysis. The main data come from a social accounting matrix for 2016 calibrated on the Cameroonian economy. As findings, a 50% increase of total alcoholic consumption in 2020 increases the demand of that sector whether the final demand or the intermediate input. The government income may increase in 2020, 2021 and 2024 but may decrease in 2021 and 2022. It may impact positively the GDP in the medium term. Finally, the well-being may be positively impacted by the year 2024.Keywords. Alcoholic drink, Government policy, Public revenue, Well-being, CGE.JEL. C51, C68, E02, F31, F41.

The justice system is increasingly reliant on new technologies such as artificial intelligence (AI). In the field of criminal law this also extends to the methods utilized by police for preventing crime. Though policing is not explicitly covered by Article 6 of the European Convention of Human Rights, this article will demonstrate that there can be adverse effects of policing on fair trial rights and make the analogy to criminal investigations as a recognized pre-trial process. Specifically, it will argue that policing that relies on AI to predict crime has direct effects on fair trial processes such as the equality of arms, the presumption of innocence, and the right to confront the evidence produced against a defendant. It will conclude by challenging the notion that AI is always an appropriate tool for legal processes.

Motivation: Institutions are a set of rules of the game, norms and values that constitute a fundamental element of any social and political system. Political institutions are an important object of theoretical considerations and a number of attempts at explanations in political science. in their research, they put more emphasis on the effects of political institutions than on issues related to their genesis and the changes taking place. This article is in the trend of New Institutionalism which focuses on the causal role and the limited ability to design new tools, as well as a strong intention in this area. Aim: The aim of the article is to provide a synthetic overview of the causes and effects of continuity and changes in formal political institutions within the interdisciplinary area— new institutionalism. The research methods used during the preparation of the article include the analysis and criticism of the literature Results: The article focuses on presenting the role of institutions in political life, showing the dysfunctionality of the institutional sphere in the face of pressure from interest groups and the game of political actors. The explanation of these aspects was served by logical constructions and analyzes, primarily of a historical and sociological study, emphasizing the importance of determinants of informal institutions on the durability and institutional change.

Motivation: Institutions are a set of rules of the game, norms and values that constitute a fundamental element of any social and political system. Political institutions are an important object of theoretical considerations and a number of attempts at explanations in political science. in their research, they put more emphasis on the effects of political institutions than on issues related to their genesis and the changes taking place. This article is in the trend of New Institutionalism which focuses on the causal role and the limited ability to design new tools, as well as a strong intention in this area. Aim: The aim of the article is to provide a synthetic overview of the causes and effects of continuity and changes in formal political institutions within the interdisciplinary area— new institutionalism. The research methods used during the preparation of the article include the analysis and criticism of the literature Results: The article focuses on presenting the role of institutions in political life, showing the dysfunctionality of the institutional sphere in the face of pressure from interest groups and the game of political actors. The explanation of these aspects was served by logical constructions and analyzes, primarily of a historical and sociological study, emphasizing the importance of determinants of informal institutions on the durability and institutional change.

Die Corona-Pandemie und die ergriffenen Maßnahmen zur Eindämmung bedeuten erhebliche wirtschaftliche Einbußen für viele Unternehmen in Deutschland. Die durch die Corona-Krise ausgelöste Rezession dürfte mindestens so schlimm wie in der letzten Finanzkrise ausfallen. Die Politik handelte sehr entschlossen und konnte dabei auf leistungsstarke Förderbanken setzen. Denn zur Abmilderung akuter Krisenerscheinungen leisten Förderbanken einen entscheidenden Beitrag. Als Krise ganz neuer Dimension kann man dabei von einer Bewährungsprobe 2.0 sprechen. Im vorliegenden Aufsatz wird die Rolle der Förderbanken des Bundes und der Länder als Stabilitätsanker in Zeiten der Corona-Krise dargestellt. ; The corona pandemic and the measures taken to contain it mean considerable economic losses for many companies in Germany. The recession triggered by the corona crisis is likely to be at least as severe as during the last financial crisis. Politicians acted very decisively and were able to rely on powerful development banks. This is because development banks make a decisive contribution to mitigating acute crisis symptoms. As a crisis of a completely new dimension, one can speak of a test of endurance 2.0. This paper describes the role of the development banks of the Federal Government and the Länder as an anchor of stability in times of the corona crisis.

This paper provides evidence on the effect of fiscal stimulus on economic activity in countries with different degrees of institutional quality. The identification strategy makes use of data on military expenditure to instrument government consumption using local lineal projections as presented in Jordà (2005 ). Based on a panel of 113 countries during the period 1988-2017 , the analysis finds evidence that an increment of 1 percent in government consumption yields a sizable, persistent, and stable increase in economic activity of 0.9 percent in countries with higher institutional quality. In contrast, for countries with lower institutional quality, the effect is smaller (0.4 percent) and more short-lived

This paper aims to review the different impacts of income inequality drivers on the Gini coefficient, depending on institutional specificities. In this context, we divided the European Union member states in two clusters (the cluster of member states with inclusive institutions / extractive institutions) using the institutional pillar as a clustering criterion. In both cases, we assesed the impact of income inequality drivers on Gini coefficient by using a fixed effects model in order to examine the role and importance of the institutions in the dynamics of income disparities.The models were estimated by applying the Panel Estimated Generalized Least Squares (EGLS) method, this being weighted by Cross-section weights option. The separate assessment of the income inequality reactivity to the change in its determinants according to the institutional criterion represents a new approach in this field of research and the results show that the impact of moderating income inequality strategies is limitedin the case of member states with extractive institutions.

Corruption is widely believed to negatively affect economic growth. However, many East and Southeast Asia countries either achieved or currently are achieving impressively rapid economic growth despite widespread corruption - the 'East Asian Paradox'. Is this negative relationship equally likely to hold for autocracies and democracies? This paper examines the role of political institutions in mediating the corruption-growth relationship using panel data over one hundred countries for the period 1984-2016. We find clear evidence that corruption-growth relationship differs by the type of political institution, and the growth enhancing effect of corruption is more likely in autocracies than in democracies. The perceived credibility of long-term ruling political elites by promoting economic freedom to do business gives confidence to the firms, vital for investment and growth. Our findings provide suggestive evidence in support of the East Asian Paradox.

Are financial intermediaries inherently unstable? If so, why? What does this suggest about government intervention? To address these issues we analyze whether model economies with financial intermediation are particularly prone to multiple, cyclic, or stochastic equilibria. Four formalizations are considered: a dynamic version of Diamond-Dybvig banking incorporating reputational considerations; a model with delegated investment as in Diamond; one with bank liabilities serving as payment instruments similar to currency in Lagos-Wright; and one with Rubinstein-Wolinsky intermediaries in a decentralized asset market as in Duffie et al. In each case we find, for different reasons, financial intermediation engenders instability in a precise sense.

Are financial intermediaries inherently unstable? If so, why? What does this suggest about government intervention? To address these issues we analyze whether model economies with financial intermediation are particularly prone to multiple, cyclic, or stochastic equilibria. Four formalizations are considered: a dynamic version of Diamond-Dybvig banking incorporating reputational considerations; a model with delegated investment as in Diamond; one with bank liabilities serving as payment instruments similar to currency in Lagos-Wright; and one with Rubinstein-Wolinsky intermediaries in a decentralized asset market as in Duffi e et al. In each case we find, for different reasons, financial intermediation engenders instability in a precise sense.

Government debt is high in most developed countries, and while it may reflect short-term attempts to kick-start the economy in times of crisis through fiscal stimulus, the longer-term consequences risk being detrimental to investment and growth. This makes it important to identify factors that are associated with debt. While previous studies have related government debt to economic and political variables, they have not incorporated the degree to which the economy is regulated. Using regulatory freedom (absence of detailed regulation of labor, business and credit) from the Economic Freedom of the World index, we conduct an empirical analysis covering up to 67 countries in the period 1975-2010. The main finding is that regulatory freedom, especially for credit, affects debt development negatively. The effect is more pronounced when the political system is fractionalized and characterized by strong veto institutions, indicating policy stability and credibility, and when governments have a right-wing ideology.

The Napoleonic Wars had dramatic consequences for Spain's economy. The Peninsular War had higher demographic impact than any other military conflict, including civil wars, in the modern era. Farmers suffered confiscation of their crops and destruction of their main capital asset, livestock. The shrinking demand, the disruption of international and domestic trade, and the shortage of inputs hampered industry and services. The loss of the American colonies, a by-product of the French invasion, seriously harmed absolutism. In the long run, however, the Napoleonic Wars triggered the dismantling of Ancien Régime institutions and interest groups. Freed from their constraints, the country started a long and painful transition towards the liberal society. The Napoleonic Wars may be deemed, then, a watershed in Spanish history.