Does economic freedom increase income inequality? Evidence from the EU countries

This paper examines the relationship between economic liberalization and income inequality in the EU using panel data for the 2000s. The empirical evidence suggests that economic freedom is strongly related to income inequality. However, not all areas of economic freedom affect income distribution similarly. Government size is robustly associated with inequality, and also when controlling for potential endogeneity in a dynamic panel data analysis. Regulation is linked to income inequality as well, whereas legal system and sound money have no significant effects on income distribution. In the case of freedom to trade internationally, the relationship differs between old (EU-15) and new (former socialist) EU countries.     

Accounting for the family in European income tax systems

Tax systems are expected to achieve many things at once andthis paper discusses the trade-offs involved in attempting toreconcile conflicting aims. It surveys the various instrumentsthat are used to take account of marriage and the presence ofchildren and describes the current systems in the 15 EuropeanUnion countries. The impact of alternative tax treatments ofthe family 'borrowed' from other countries is examined for theUK, using the tax-benefit microsimulation model, POLIMOD. Thepaper explores the implications of the alternatives for thetax paid by families of different types and for the work incentivesof individuals in different family situations.     

Introduction to “Economic and Financial Governance in the European Union after a decade of Economic and Political Crises.”

ABSTRACT

This paper offers the Introduction to the Special Issue “Economic and Financial Governance in the European Union after a decade of Economic and Political Crises.” We introduce the five papers. We distill three important lessons they offer for EU integration.     

Using pre-EMU money market rates to assess monetary policy in the euro area

This note addresses the problems arising when using national pre-EMU interest rate data in the estimation of monetary policy reaction functions for the euro area. We provide evidence that failing to adjust for interest rate risk premia leads to an overestimation of the response of monetary policy both to inflationary pressures and to the output gap. A method for adjusting pre-EMU interest rate data for risk premia is proposed.     

The European Union: confederation,federation or association of compound states?

The European Union of today is neither a confederation nor a federation, but rather an association of compound states. It is shown that this mixture of two forms of constitutional contracts implies inconsistencies prone to political deadlocks. A Buchanan/Tullock/Rawls approach to a reform suggests a clear choice between either a confederation or a federation. In this paper, however, it is proposed to follow a Hayekian approach in which issue fields are allocated to a confederation or to a federation, respectively depending on the revealed homogeneity of preferences of the citizens across the Member States. Hence both, Council and European Parliament, would remain the central decision makers but with separate tasks. Suggestions are made how to improve their election and their decision rules. The paper should contribute to the debate on reforming the European institutions which emerged after the rejection of the constitutional draft by the French and Dutch voters in 2005.

浅析欧盟利用绿色壁垒限制我国企业的政策趋势

近年来,绿色壁垒成为欧盟限制我国企业的最新趋势。本文对欧盟及其成员国近年来的政策进行了文献调研,分析了这一趋势的表现、成因、影响与应对建议,主要内容如下:欧盟科技创新政策正不断提高绿色壁垒,主要表现为提升进口产品环保标准、支持当地企业环保转型以及推动国际经贸规则中环保标准的提高。我国企业或将受到较大影响。究其原因,绿色壁垒与传统限制手段相比具有更多优势。未来,原材料出口、机电产品等与欧盟环保差距较大的领域可能受到较大影响。建议我国政府密切关注欧盟情况,做好前瞻性应对预案,推动我国企业环保转型。     

Sovereign risk and deposit dynamics: evidence from Europe

The unprecedented expansion of sovereign balance sheets since the beginning of the global crisis has given a new meaning to the term sovereign risk. Developments in Europe since early 2010 revealed new challenges for the functioning of private banks in an environment of heightened sovereign risk and may have contributed to deleveraging. The article uses an innovative way of measuring the perception of sovereign risk and its impact. Using an extension of a common market discipline framework, it shows that exposure to sovereign risk may have limited the ability of banks in Europe to collect deposits. Potential identification issues between deposits and bank efficiency are controlled by using data envelopment analysis (DEA). The results are robust to inclusion of conventional measures of bank performance and the sector-wide holdings of foreign sovereign debt.     

土地托管对资产收益扶贫的影响——基于湖南省H县的实证研究

土地托管推进了以土地与劳动为资产的收益模式发展,然而,其是否具有益贫性或者能够成为资产收益扶贫的方式有待探讨。以湖南省H县的农户为研究对象,探讨土地托管对于贫困户资产收益的影响,以及影响土地托管实现资产收益扶贫的主要因素。结果表明:土地托管有利于增加贫困户的资产收益;土地托管中,影响贫困户资产收益的因素主要有贫困户的家庭劳动力数量、贫困户参与土地托管的时间、贫困家庭劳动力的平均年龄、贫困家庭劳动力平均受教育年限。因此,家庭劳动力的缺失、劳动力人力资本与社会资本的缺失都制约着贫困家庭的资产收益增长。这就需要在土地托管过程中,为贫困户提供托管生产与服务费用补贴;通过“能力”扶贫增强贫困家庭劳动力的发展能力;通过“机会”扶贫增加贫困家庭劳动力的就业机会。     

Macroeconomic Consequences of the EMU

European Monetary Union was sold to the German public on the claim that the common currency would make the European economy stronger and that this would yield significant welfare gains. Such claims are commonly based on three propositions. (1) The common currency will be a strong international currency and the real appreciation of the euro against other currencies will make the EMU citizens richer. (2) The common currency will change labor market relations and increase labor market flexibility, and this will reduce the high rate of structural unemployment in Europe. (3) The common currency will create competition among the governments in the dimension of regulatory and tax policies and induce governments to undertake structural reforms which are long overdue, and this will set the EMU economy on a higher growth path.In this paper we discuss these three claims. We agree with the basic ideas of each of them. But the suggested result of a stronger EMU economy remains questionable. The euro may lead to more or to less labor market inflexibility, and competition among governments in the EMU has a high and a low-regulation equilibrium. Where the euro takes the European economy depends largely on the political willingness to engage in reforms.     

性别收入差异及性别歧视的变化

性别歧视带来的性别收入差异一直备受关注。文章基于吉林省1990-2010年间三期妇女地位的调研数据分析了吉林省的性别工资差异问题,并运用Oaxaca-Blinder对性别收入差距进行了分解。文章对20年间吉林省的性别收入差异进行了横向和纵向的分析,实证研究得到如下结论:性别分割是我国劳动力市场上一直存在的一种现象,性别收入差距总体趋势在扩大;个体特征差异能够在一定程度上解释性别收入差异,现阶段性别收入差异在很大程度上是由于劳动者本身的人力资本水平引起的,是正常合理的范围;歧视仍然是造成性别收入差距的一个原因,女性在获得教育的机会上还是比男性要低,而且女性很难进入到高收入行业和职业,使得在教育方面女性仍然处于不利地位。但是经过20年的发展,对女性的歧视逐步减弱。     

Introduction: Is the European Union Capable of Integrating Diverse Models of Capitalism?

ABSTRACT

The causes and consequences of the Euro crisis have led comparative political economy scholars to question whether European integration can accommodate diverse models of capitalism. This special issue addresses two important questions about the compatibility of diverse growth models within the European Union (EU): Are some growth regimes better suited to European integration than others? and does the EU favour a particular constellation of domestic institutions? Contributions within this special issue provide a qualified yes to these questions, concluding that the EU favours export-led growth models whilst it penalises and discourages domestic consumption-oriented growth paths, particularly those that are financed by debt accumulation. While recent comparative capitalism literature highlights that European monetary integration has favoured export-led growth regimes, contributions in this special issue outline that the EU’s prioritisation of export-led growth over domestic demand-led growth is present in other facets of integration, including EU accession, financial integration, the free movement of people, fiscal governance and the Europe 2020 growth strategy. Findings here provide important insights for both the European integration and comparative capitalism literature, highlighting that the unique economic ties being forged within the European project may be problematic for those countries outside northwestern Europe and for workers in low-wage domestic sectors.