Portuguese household debt increased above GDP between 2000 and 2007. This article uses conspicuous consumption to explain credit demand dynamics. The author develops an institutionalist framework and consider how rapid high inequalities and increasing top income share favored conspicuous consumption and climbing household debt.
This article analyzes the evolution of the welfare system in Hungary and Latvia since the early 1990s. We identify the main components of social protection and investigate whether they have shifted. We find evidence of significant changes, but not of a definite and major shift. Rather, we argue that various benefits have evolved differently. In general, reforms tend to recombine (rather than replace) specific components.
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