European Public Finances and the Great Recession: France, Germany, Ireland, Italy, Spain and the United Kingdom Compared

Bozio, Antoine; Emmerson, Carl; Peichl, Andreas; Tetlow, Gemma

doi:10.1111/j.1475-5890.2015.12078

Cited by 26 publications

(8 citation statements)

References 13 publications

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“…In 2009, value added in the EU‐27 fell by some 4 per cent and it was not until 2011 that it returned to its pre‐crisis level whereupon it stagnated until 2013 due to sluggish recovery in aggregate demand and the labour market. The fiscal response came in two parts (Bozio et al ., 2015 ). First, countries adopted active fiscal stimuli packages aimed specifically at limiting the length and the depth of the recession.…”

Section: Covid‐19 and The Great Recessionmentioning

confidence: 99%

COVID‐19, the Great Recession and Economic Recovery: A Tale of Two Crises

Ingham

2022

J of Common Market Studies

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COVID‐19 caused a major economic downturn, the like of which had not been seen since the Great Recession although the underlying causes of the two crises were very different; systemic risk versus a virus. Here we look at how flexible work practices, allied with adequate supports and lifelong learning opportunities, aided economic recovery following the earlier crisis in order to see if there are any lessons to be learnt for post‐pandemic recovery. Overall, the results indicated that flexicurity provided a modest growth dividend during the Great Recession, typically no more than one percentage point. Of the individual components, the short‐run results indicated that security along with life‐long learning and part‐time work proved the most beneficial, although flexible work practices also boosted growth, albeit to a lesser extent. For flexible labour markets, the long‐run results indicated that the growth gains were highest in trusting economies with, or without, social partner engagement.

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Section: Covid‐19 and The Great Recessionmentioning

confidence: 99%

COVID‐19, the Great Recession and Economic Recovery: A Tale of Two Crises

Ingham

2022

J of Common Market Studies

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“…The stability of the more restrictive rates—capturing inactivity—with respect to the standard NEET rates including unemployment is not surprising. Even considering that for young people, distinguishing unemployment and inactivity is not always easy, the cyclicality of unemployment related to the impact of the Great Recession has been very important, as has the impact of the adjustment policies of financial programs—the ‘bailouts’—for Greece and Portugal ( ILO, 2013 , 2014b , 2018 ) and the severe public adjustments for Italy and Spain ( ILO, 2014 a ; Bozio et al , 2015 ).…”

Section: Aggregate Evolution Of the Neet Rate In Southern European Countriesmentioning

confidence: 99%

Being a NEET before and after the Great Recession: persistence by gender in Southern Europe

Mussida

Baussola

Malo

et al. 2021

Socio-Economic Review

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This article adds to the scant literature on the time persistence of being a young Not in Employment, Education or Training (NEET) by including four main novelties: we distinguish short- and long-term persistence; we use estimations before (2004–2007) and after the Great Recession (2013–2016); we analyse four Southern European countries that are relatively similar and were significantly affected by the Great Recession (Greece, Italy, Portugal and Spain); and all analyses are disaggregated by gender. The descriptive analysis shows a convergence in NEET rates by gender in the four countries due to a worsening of the male NEET rate and no improvement among young females. The econometric estimations show that long-term persistence is smaller than short-term persistence and that the latter increased after the Great Recession, especially for male NEETs. Policy implications for the design of the Youth Guarantee and lessons from the coronavirus pandemic are also discussed.

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“…The author substantiates the need to strengthen measures to ensure transparency in public finances, the reliability of public budget information, as well as strengthen the role of Eurostat in budget supervision. Bozio et al (2015), using six European countries as an example (France, Germany, Ireland, Great Britain, Italy, and Spain) and studying the consequences of the financial crisis and fiscal policy reforms, proved that one of the factors that positively influenced the state of public finances in these countries was the provision of greater transparency when formulating economic and fiscal forecasts. Bergman et al (2016), using the example of 27 EU countries based on the use of dynamic panel econometric model for the period 1990-2012, analyzed the indices of fiscal rule strength and proved that supranational fiscal rules are more effective in shaping public finances than supranational ones.…”

Section: Literature Reviewmentioning

confidence: 99%