Author : Jon Erik Dølvik
Publisher : Oxford University Press, USA
ISBN 13 : 0198717962
Total Pages : 459 pages
Book Rating : 4.66/5 ( download)
Book Synopsis European Social Models from Crisis to Crisis by : Jon Erik Dølvik
Download or read book European Social Models from Crisis to Crisis written by Jon Erik Dølvik and published by Oxford University Press, USA. This book was released on 2015 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes the interaction of European social models -- the institutions structuring labor markets' supply side -- and their turbulent macroeconomic environment from the deep Europe-wide recession, ending Germany's post-unification boom, through monetary union's establishment, to the Great Recession following the recent financial crisis. The analysis reaches two conclusions challenging the dominant view that the social models caused unemployment by impairing labor markets' efficiency in the name of equity. First, the social models' employment and distributive effects are far outweighed by their macroeconomic environment, especially in the Eurozone, where its truncated structure of economic governance transformed the Great Recession into a sovereign debt crisis. Second, instead of a trade-off between efficiency and equity, the employment effects of counteracting markets tendency to generate inequality depends on the macroeconomic conditions under which it occurs and how it is done.