The Productivity–Real Wage Nexus in Emerging European Economies: Evidence from Poland

2021 ◽  
pp. 1-21
Author(s):  
Paweł Gajewski ◽  
Ali M. Kutan
Keyword(s):  
Real Wage ◽  
European Economies

The European Guilds

2019 ◽  
Author(s):  
Sheilagh Ogilvie
Keyword(s):  
Middle Ages ◽  
Common Good ◽  
Industrial Revolution ◽  
Dark Side ◽  
Market Failures ◽  
Women Migrants ◽  
Work Skills ◽  
The Common ◽  
Economic Reasoning ◽  
European Economies

Guilds ruled many crafts and trades from the Middle Ages to the Industrial Revolution, and have always attracted debate and controversy. They were sometimes viewed as efficient institutions that guaranteed quality and skills. But they also excluded competitors, manipulated markets, and blocked innovations. Did the benefits of guilds outweigh their costs? Analyzing thousands of guilds that dominated European economies from 1000 to 1880, this book uses vivid examples and clear economic reasoning to answer that question. The book features the voices of honourable guild masters, underpaid journeymen, exploited apprentices, shady officials, and outraged customers, and follows the stories of the “vile encroachers”—women, migrants, Jews, gypsies, bastards, and many others—desperate to work but hunted down by the guilds as illicit competitors. It investigates the benefits of guilds but also shines a light on their dark side. Guilds sometimes provided important services, but they also manipulated markets to profit their members. They regulated quality but prevented poor consumers from buying goods cheaply. They fostered work skills but denied apprenticeships to outsiders. They transmitted useful techniques but blocked innovations that posed a threat. Guilds existed widely not because they corrected market failures or served the common good, but because they benefited two powerful groups—guild members and political elites. The book shows how privileged institutions and exclusive networks shape the wider economy—for good or ill.

European Economies Stability Faced With Potential Outburst of Sovereign Debt Crisis. An Empirical Study Using Neural Network

2013 ◽  
Vol 12 (2) ◽  
pp. 3255-3260
Author(s):  
Stelian Stancu ◽  
Alexandra Maria Constantin
Keyword(s):  
Neural Network ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Banking System ◽  
Sovereign Debt Crisis ◽  
European Level ◽  
Continuous Growth ◽  
Economic Context ◽  
European Economies ◽  
The Impact

Instilment, on a European level, of a state incompatible with the state of stability on a macroeconomic level and in the financial-banking system lead to continuous growth of vulnerability of European economies, situated at the verge of an outburst of sovereign debt crises. In this context, the current papers main objective is to produce a study regarding the vulnerability of European economies faced with potential outburst of sovereign debt crisis, which implies quantitative analysis of the impact of sovereign debt on the sensitivity of the European Unions economies. The paper also entails the following specific objectives: completing an introduction in the current European economic context, conceptualization of the notion of “sovereign debt crisis, presenting the methodology and obtained empirical results, as well as exposition of the conclusions.

The Economics of wages and wages policy in the depression and recovery period: distinctive elements in the New Zealand debate, 1931- 1936

1970 ◽  
Vol 15 (1) ◽  
Author(s):  
A. M. Endres
Keyword(s):  
New Zealand ◽  
Real Wage ◽  
Labour Productivity ◽  
Recovery Period ◽  
Prima Facie ◽  
Currency Devaluation ◽  
Money Wage ◽  
Distinctive Features ◽  
Compulsory Arbitration ◽  
Wage Cuts

This article discusses distinctive features of the New Zealand debate on the economics of wages and wages policy from 1931 up to the restoration of compulsory arbitration in 1936. Local economic orthodoxy proffered advice which, consistent with Keynes (1936), turned on the need for a general real wage reduction effected mostly through currency devaluation, rather than through further money wage cuts. Dissenters were critical of currency devaluation; they stressed excessively generous unemployment relief, real wage 'overhang' and structural real wage distorttons. Tentative estimates of both aggregate real product wage and labour productivity changes demonstrate, prima facie, that at least one strand in the dissenting argument was defensible.

scholarly journals The Intra-EU Value Chain: An Approach to Its Economic Dimension and Environmental Impact

Economies ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 54
Author(s):  
Óscar Rodil-Marzábal ◽  
Hugo Campos-Romero
Keyword(s):  
Environmental Impact ◽  
Co2 Emissions ◽  
Value Chain ◽  
Positive Impact ◽  
Value Added ◽  
Kuznets Curve ◽  
Output Analysis ◽  
Economic Dimension ◽  
Development Levels ◽  
European Economies

This paper aims to analyze the economic dimension and environmental impact of intra-EU value-added generation linked to global value chains (GVCs) through input-output analysis. For this purpose, information has been collected from TiVA (Trade in Value Added, OECD) and Eora databases for the years 2005 and 2015. From an economic perspective, the results point to a strengthening of the value-added generated within Factory Europe. From an environmental perspective, all EU28 members have reduced their exports-related impacts in intensity-emissions terms, but not all of them in the same degree. An approach to the environmental Kuznets curve (EKC) has also been carried out through a panel data model. The results show a positive impact of the participation in intra-EU value chain (Factory Europe) on CO2 emissions per capita. Further, an inverted U-shaped curve for CO2 emissions is found for the period 2005–15. In this sense, European economies with lower development levels (many Eastern and Southern countries) seem to be still on the rising segment of the curve, while the more developed ones seem to be on the decreasing segment. These results highlight the need to design global monitoring and prevention mechanisms to tackle growing environmental challenges and the need to incorporate specific actions associated with the GVCs activity.

scholarly journals Sustainable Entrepreneurship in the 2030 Horizon

2021 ◽  
Vol 13 (2) ◽  
pp. 909
Author(s):  
Fernando Crecente ◽  
María Sarabia ◽  
María Teresa del Val
Keyword(s):  
Sustainable Development ◽  
Social Protection ◽  
Entrepreneurial Activity ◽  
The European Union ◽  
Sustainable Entrepreneurship ◽  
Development Indicators ◽  
Responsible Behavior ◽  
Development Goals ◽  
European Economies ◽  
The Relationship

(1) Background: this paper analyzes the relationship between entrepreneurship and sustainability following the worldwide reference of the 2030 Sustainable Development Goals (SDGs) framework set by the United Nations. Nowadays, these SDGs are the inspiration for many types of entrepreneurship that combine value creation with conservation and social protection. (2) Methods: using the indicators provided by Eurostat in its section called “Sustainable development indicators”, we have developed a dataset of 21 variables applied to the European Union (EU27) for the period 2013–2017. (3) Results: the results hold that these SDGs have favored a climate of change in the European economies towards more responsible behavior on the part of society, institutions, and their business fabric, creating new sustainable entrepreneurship. (4) Conclusions: the promotion of the SDGs has contributed to increasing the rate of entrepreneurial activity in the period 2013–2017.

Reforming Eastern European economies

Energy Policy ◽  
1991 ◽  
Vol 19 (4) ◽  
pp. 407-408
Author(s):  
Graham Bird
Keyword(s):  
Eastern European ◽  
European Economies
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