Financial Crisis Effects on Romanian Economy

The world economy is under recession. The strong financial turbulences, the collapses of the main stock exchanges with global extension, the global real estate crises and alimentary problems represent the signs of a fundamental correction within the global economy. To tackle the unprecedented economic storm, governments across the world have been spending trillions of dollars on economic stimulus packages to combat the recession, prompting a debate about how eventually to unwind this support. Removing the stimulus measures too soon could see economies slump again, while leaving them in place too long could risk stoking inflationary pressures. How world financial crisis manifest in Romania.financial crisis, effects, measures, external vulnerability, time to act, Romania

Italy and Neutrality: Cultural, Political and Diplomatic Framework

talian history at the beginning of WWI was well harmonised with other events in the Old Continent, while the domestic picture featured a delicate set of links, between Triplicist, neutralist, and nationalist environments, parties and movements, with "nationalism" acting as a shaping factor in Italy's public scene. But different elements emerged in Italian nationalism that would grow into the interventionist policy of an aspiring “great power”, interpreted by some as a line of continuity between liberal and fascist foreign policy. The period of neutrality and the events that led to Italy's intervention were in the spotlight of historiographical analysis in the post-war years, with both focus on fascist Italy's non-belligerance at the surge of WWII and special attention to documentation and the strategies of protagonists (e.g. Giolitti, Salandra, di San Giuliano, Sonnino, D’Annunzio, etc.), as well as to careful reconstruction of events the growing consensus for intervention, the personalisation of stances for and against intervention, the many elements at play within and outside the country and the clever combination of popular mobilisation and parliamentary strategy by supporters of intervention in the weeks between the Treaty of London and war. The goal of the paper is to present the evolution of the Italian position from neutrality to the intervention in the war alongside the Entente, with a particular attention to international context, to the protagonist of the neutrality period in Italy through the memories and the main historiography on the subject

Alliances and treaties: co-operation in war and peace

This article explores how the use of alliances and treaties changed along with the developments in the European international order in the modern era. Fundamentally, European international relations remained based on an "anarchic" system of competing sovereign states. Yet the evolution of concepts of international law from the Renaissance onwards and the impact of cultural, political, and social developments has encouraged a use of treaties and alliances that has moved European politics fitfully towards a "constitutional" solution, while never fully embracing such a model

Employment and Growth in an Aging Society. A Simulation Study for Austria

In this study we use a long run macroeconomic model for Austria to simulate the effects of aging on employment, output growth, and the solvency of the social security system. By disaggregating the population into six age cohorts and modelling sex specific participation rates for each cohort, we are able to account for the future demographic trends. Apart from a baseline scenario, we perform three alternative simulations that highlight the effects of aging from different perspectives. These include (1) purely demographic developments, (2) increasing labour market imperfections, and (3) higher economic growth due to a productivity shock.Economic growth, Aging, Austria

Improving accessibility at airports

Analyse and evaluate the accessibility at airports to improve the role of this infrastructure at regional level

Fiscal Crisis in Europe or a Crisis of Distribution?

We are in a new episode of the global crisis: the struggle to distribute the costs of the crisis. The financial speculators and corporations are relabeling the crisis as a “sovereign debt crisis” and pressurizing the governments in diverse countries ranging from Greece to Britain to cut spending to avoid taxes on their profits and wealth. In Europe the crisis laid bare the historical divergences. At the root of the problem is the neoliberal model which turned the periphery of Europe into markets for the core. The restrained policy framework, which is based on strict inflation targeting, and which lacks fiscal transfers targeting productive investments in the periphery is the main cause of the divergences. The EU’s current policies are still assuming that the problem is a lack of fiscal discipline and do not question the structural reasons behind the deficits and the “beggar my neighbor” policies of Germany. The deflationary consequences of wage cuts may turn the problem of debt to insolvency for private as well as the public sector.The crisis calls for a major change in policy framework within Europe that places regional and social cohesion at the core of policy making. This is a crisis of distribution and a reversal of inequality at the expense of labor is the only real solution.

Warfare, Taxation, and Political Change: Evidence from the Italian Risorgimento

We examine the relationships between warfare, taxation, and political change in the context of the political unification of the Italian peninsula. Using a comprehensive new database, we argue that external and internal threat environments had significant implications for the demand for military strength, which in turn had important ramifications for fiscal policy and the likelihood of constitutional reform and related improvements in the provision of non-military public services. Our analytic narrative complements recent theoretical and econometric works about state capacity. By emphasizing public finances, we also uncover novel insights about the forces underlying state formation in Italy