Search results for ""Author Alberto Alesina""

En este provocador libro, los economistas Alberto Alesina y Francesco Giavazzi señalan que, si Europa no toma pronto medidas, es casi inevitable que se intensifique su declive económico y político. Si no se emprende una reforma global, las sobreprotegidas y superreguladas economías de Europa occidental continental continuarán perdiendo velocidad y su influencia política acabará siendo casi inapreciable. Eso no significa que Alemania, Francia, España y otros países que hoy son prósperos vayan a empobrecerse; su nivel de vida continuará siendo holgado. Pero acabarán siendo casi irrelevantes en el panorama mundial. En El futuro de Europa, Alesina y Giavazzi (que son europeos) esbozan las medidas que debe tomar Europa para impedir su eclipse económico y político.Según los autores, Europa tiene mucho que aprender de Estados Unidos. Los europeos trabajan menos y tienen más vacaciones que los estadounidenses; valoran sobre todo la seguridad y la estabilidad del empleo. Alesina y Giavazzi sostienen que los estadounidenses trabajan más y un número mayor de horas y están más dispuestos a soportar los altibajos de una economía de mercado. Los europeos valoran su Estado de bienestar; los estadounidenses aborrecen el gasto público. Estados Unidos es un crisol de culturas; los países europeos tienen dificultades para absorber la población inmigrante. Alesina y Giavazzi advierten de que para que Europa ponga freno a su declive, tiene que adoptar un modelo parecido al de libre mercado de Estados Unidos.Las recomendaciones de Alesina y Giavazzi sobre la forma en que Europa debe afrontar las cuestiones relacionadas con la productividad de los trabajadores, la regulación del mercado de trabajo, la globalización, la financiación de la enseñanza superior y de la investigación tecnológica, la política fiscal y sus sociedades multiétnicas suscitarán sin duda controversias, al igual que su visión de la Unión Europea y del euro. Pero su llamada de atención sonará alta y clara para todo aquel al que le preocupe el futuro de Europa.

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Currency Unions reviews the traditional case for flexible exchange rates and "countercyclical"—that is, expansionary during recessions and contractionary in booms—monetary policy, and shows how flexible exchange rate regimes can better insulate the economy from such real disturbances as terms-of-trade shocks. The book also looks at the pitfalls of flexible exchange rates—and why fixed rates, particularly full dollarization—might be a more sensible choice for some emerging-market countries. The contributors also detail the factors that determine the optimal sizes of currency unions, explain how currency union greatly expands the volume of international trade among its members, and examine the recent implementation of dollarization in Ecuador.

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The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. "Fiscal Policy after the Financial Crisis" focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. Further contributions discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy.

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A timely and incisive look at austerity measures that succeed—and those that don’tFiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today’s leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many.Looking at thousands of fiscal measures adopted by sixteen advanced economies since the late 1970s, Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt. It shows that spending cuts have much smaller costs in terms of output losses than tax increases. Spending cuts can sometimes be associated with output gains in the case of expansionary austerity and are much more successful than tax increases at reducing the growth of debt. The authors also show that austerity is not necessarily the kiss of death for political careers as is often believed, and provide new insights into the recent cases of European austerity after the financial crisis.Bringing needed clarity to one of today’s most challenging subjects, Austerity charts a sensible approach based on data analysis rather than ideology.

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A revealing look at austerity measures that succeed—and those that don'tFiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. Bringing needed clarity to one of today's most challenging economic issues, three leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Austerity assesses the relative effectiveness of tax increases and spending cuts at reducing debt, shows that austerity is not necessarily the kiss of death for political careers as is often believed, and charts a sensible approach based on data analysis rather than ideology.

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