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European Social Models from Crisis to Crisis "Employment and Inequality in the Era of Monetary Integration"

European Social Models from Crisis to Crisis "Employment and Inequality in the Era of Monetary Integration"

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  • ISBN:9780198717966
  • Editorial: Oxford University Press
  • Fecha de la edición:
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  • Nº Pág.:464
  • Idiomas:Inglés,Ingles

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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 Germanys 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.

1. Introduction ; 2. Eurozone Economic Governance: "A Currency Without a Country" ; 3. The Transformation of the German Model ; 4. France in the Middle ; 5. The United Kingdom's Social Model: From Labour's New Deal to the Economic Crisis and the Coalition ; 6. The Evolution and Crises of the Social Models in Italy and Spain ; 7. The Liberal Road to High Employment and Low Inequality? The Dutch and Swiss Social Models in the Crisis ; 8. The Nordic Social Models in Turbulent times: Consolidation and Flexible Adaptation ; 9. Redistribution and the Power of the Advanced Nation State: Government Responses to Rising Inequality ; 10. When Institutions Reciprocate: Turning European Social Models Around ; 11. From Crisis to Crisis: European Social Models and Labor Market Outcomes in the Era of Monetary Integration ; 12. Conclusion

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