The new political economy of Dirigisme: French macroeconomic policy, unrepentant sinning and the stability and growth pact

This article traces the enduring influence of the dirigiste traditions on contemporary French macroeconomic policy-making, arguing that French policy both within and towards the Stability and Growth Pact (SGP) is consistent with long-standing French dirigiste preferences and policy traditions. Specifically it explores how, within the SGP, French governments have created and defended significant fiscal policy space, and how the scope for discretionary policy-making has in fact been enhanced by the credibility accrued through European rule-based governance. Furthermore, it analyses how, in their policies towards the SGP, French governments have successfully influenced the reshaping of the fiscal policy architecture, introducing a more dirigiste interventionism in the interpretation and implementation of the SGP, loosening constraints in accordance with dirigiste preferences. French policy-makers have thus played a 'long-run game' with European economic governance—initially accepting ordo-liberal orthodoxy, only to subsequently 'move the goalposts' in a more dirigiste direction

Sir Austen Chamberlain, the Marquess of Crewe and Anglo-French Relations, 1924–1928

During the mid-1920s, Britain's relationship with France was of crucial importance to understanding the entire rationale behind British policy towards European diplomacy. This article is concerned with the dynamics of the relationship between the francophile British Foreign Secretary, Sir Austen Chamberlain and Britain's ambassador to Paris, the Marquess of Crewe. Both men remained in post for sufficient time to influence the tone as well as the direction of Anglo-French relations, and yet in the case of Crewe, nothing to date has been written about his contribution to international diplomacy. This article argues that many of Chamberlain's ideas about Anglo-French relations were shaped by the ideas and influence of Crewe, especially on issues concerning French security and disarmament policy. Focus is placed on the later stages of the Ruhr crisis, the implementation of the Geneva Protocol, the Treaty of Locarno and the origins of the Kellogg–Briand Pact

Evolution 1998-2002 of the antidepressant consumption in France, Germany and the United Kingdom

The aim of this paper is to compare the evolution of antidepressant consumption in France, Germany and the United Kingdom between 1998 and 2002. Commercial databases (IMS Health) have been used in conjunction with administrative data (PACT for the UK, GKV for Germany and Afssaps for France) to estimate antidepressant consumption in Daily Defined Doses. The main results are: (1) Antidepressant consumption has increased significantly over the last decade in France (x2), Germany (x2.4) and the UK (x3.8); (2) SSRIs are the most heavily consumed drugs in France (67%) and the UK (60%); (3) Germany is distinguished by an overall level of antidepressant consumption twice as low as the other two countries and a relatively low use of SSRI antidepressants (31%), in favour of TCAs. In conclusion, the combined use of administrative and commercial data is possible for an evaluation of the volume of consumption. This study sheds both medical and economic light on the differences in both the level and structure of consumption in these three countries.antidepressant consumption, SSRI, France, UK, Germany

An Idea: The Society of Nations (Origin, Organisation, Aims)

The beginning of the 20th century found the states preoccupied to found an international organisation whose main aim should have been the keeping of general peace. This organisation was the Society of Nations. The Pact of the Society of Nations started to be applied beginning with the 20th of January 1920, having as its founding members 26 states, 4 dominions and India as countries who fought against Germany. The main leading institutions of the Society of Nations were: the Assembly and Council assisted by a permanent Secretariat. Besides the Society of Nations two other bodies have worked as separate institutions but closely linked to it: the International Labour Organisation and the Permanent Court of International Justice. The Chinese-Japanese conflict, fascist Italy’s attack against Ethiopia,, the reoccupation of the Rhineland by Germany, the Russian-Finnish war were crises in which the Society of Nations proved helpless. The defining element was the fact that the Society of Nations was lacking a military force by which it could solve the political crises and apply military sanctions to the aggressive states which, by their deeds, challenged the universal peace, the supreme aim for which the Society of Nations had been founded.international organizations, The Society of Nations, Woodrow Wilson

Fiscal policy in EMU: towards a sustainability and growth pact

The goal of this working paper is to take stock of the discussions on the fiscal institutions of EMU, to confront the framework in place to what is known of the desirable properties of fiscal policy in a monetary union, and to discuss possible improvements.

Transnational Perspectives on the Paris Climate Agreement Beyond Paris: Redressing American Defaults in Caring for Earth’s Biosphere

Anxiety about the fate of human civilization is rising. International Law has an essential role to play in sustaining community of nations. Without enhancing International Environmental Law, the biosphere that sustains all nations is imperiled. Laws in the United States can either impede or advance global environmental stewardship. What is entailed in such a choice? The biosphere is changing. At a time when extraordinary technological prowess allows governments the capacity to know how deeply they are altering Earth\u27s biosphere, nations experience a perverse inability to cooperate together. The Arctic is melting rapidly, with knock on effects for sea level rise and alterations in the hydro-logic cycle world-wide. As both the UN Global Environment Outlook (Geo-5) or the Special Report of the Intergovernmental Panel on Climate Change “Global Warming 1.5° C” indicate, global environmental trends are destabilizing and can overwhelm societies on each continent. Governments do not respond effectively. Their tepid response to climate change, as embodied in the Paris Agreement of 2015, is the best evidence that States need to reassess their cooperation. Shallow considerations of realpolitik no longer suffice. Nor do otherwise conventional questions, born of once sound practices from the “business as usual” eras, about how governments might methodically shape new treaties or incrementally advance international law while Earth\u27s biosphere rapidly degrade. States will need to rediscover the benefits and burdens of international cooperation. The aspirational norms of the United Nations Charter are still in force, albeit too little encouraged. More than needing reaffirmation, they require progressive development. Collaborative principles of law can be framed to provide the shared vision that States will require as the Earth\u27s human population grows from 7.6 billion today toward 9.8 billion by 2050. This article suggests the contributions that international environmental law can made toward this objective

Fiscal decentralisation in Europe : a review of recent experience

In this paper we review countries' diverse experiences to draw conclusions on the pitfalls and opportunities that are open through decentralisation of governments' fiscal responsibilities to sub-central jurisdictions. We begin by reviewing the theoretical arguments for and against the decentralisation of spending responsibilities. We also provide a cross country comparison of the extent to which spending powers have been devolved in a range of European countries, putting each country's position into a wider context. Second, we review some insights from the theory of fiscal federalism on fiscal autonomy and assess the extent of autonomy at subcentral tiers of government in the same set of countries. We discuss the approaches that have been followed, and a number of the difficulties that particular countries have faced, as the fiscal autonomy of sub-central tiers of government has evolved. Our conclusions are set out in the final section

How to manage speculative shocks: intra-European vs. International monetary coordination

The literature on currency crisis has generally not answered to the following question: which economic policies may reduce the contagion effects of a speculative shock? We use a dynamic Mundell-Fleming model extended to four countries and compute three time-consistent equilibria: a Nash equilibrium, and Nash-bargaining equilibria, first between the central banks of the G3 (a target zone equilibrium) and, second between European governments and the ECB. The best equilibrium for the Fed, European and Japanese policymakers is intra-European coordination. It induces a very expansionary fiscal policy in the USA whose government hence rejects it. Extensions to the case of a Stability Pact in European countries do not alter our results. Introducing a Fed less conservative than the ECB or the BoJ provokes a change in US preferences: both authorities give priority to the monetary equilibrium and the US government is no longer isolationist.

Simple Proposal for a Debt Related Fiscal Rule.

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