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Despite the historical and political similarities between Portugal and Spain, the contentious responses to austerity diverged in terms of number, rhythm and players. This book compares the contentious responses to austerity in Portugal and Spain during the Eurozone crisis and the Great Recession between 2008 and 2015. While in Spain a sustained wave of mobilisation lasted for three years, involving various players and leading to a transformation of the party system, in Portugal social movements were only able to mobilise in specific instances, trade unions dominated protest and, by the end of the cycle, institutional change was limited. Contesting Austerity shows that the different trajectories and outcomes in these two countries are connected to the nature and configurations of the players in the mobilisation process. While in Spain actors’ relative autonomy from one another led to deeper political transformation, in Portugal the dominance of the institutional actors limited the extent of that change.

Anti-Austerity Protests, Portugal, Spain, Great Recession, Social Movements

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Despite the historical and political similarities between Portugal and Spain, the contentious responses to austerity diverged in terms of number, rhythm and players. This book compares the contentious responses to austerity in Portugal and Spain during the Eurozone crisis and the Great Recession between 2008 and 2015. While in Spain a sustained wave of mobilisation lasted for three years, involving various players and leading to a transformation of the party system, in Portugal social movements were only able to mobilise in specific instances, trade unions dominated protest and, by the end of the cycle, institutional change was limited. Contesting Austerity shows that the different trajectories and outcomes in these two countries are connected to the nature and configurations of the players in the mobilisation process. While in Spain actors’ relative autonomy from one another led to deeper political transformation, in Portugal the dominance of the institutional actors limited the extent of that change.

European history --- Political economy --- Social classes --- Anti-Austerity Protests, Portugal, Spain, Great Recession, Social Movements

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The COVID-19 pandemic has had unprecedented negative socioeconomic effects on the lives of millions of people across the world, particularly among the most vulnerable groups. The COVID-19 outbreak has exacerbated the issues countries were facing before the pandemic such as the unequal access to basic services, markets, labor, and capital. Using five rounds of high-frequency telephone surveys collected by the Tunisian National Institute of Statistics in collaboration with the World Bank, this paper analyzes the deterioration in households' welfare due to COVID-19, focusing on changes in the labor market. The results show that although employment has now rebounded to pre-crisis levels among the respondents, labor income among wage workers and particularly the self-employed is still below pre-pandemic levels. More than half of the households interviewed report a worsening of their living standards relative to before the start of the pandemic, and for about 40 percent of the poorest, welfare levels have continued to deteriorate. In addition, price increases and a reduction in remittances threaten to undo the progress that has been achieved in raising living standards. While waiting for the economy to rebound, the most vulnerable households will continue to need income support.

Coronavirus --- COVID-19 --- Labor Markets --- Living Standards --- Pandemic Impact --- Recession --- Social Protections and Labor --- Welfare

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The past three decades have been characterized by vast change and crises in global financial markets-and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises. A momentous collection of the best recent scholarship, After the Flood illustrates both the scope of the crises' impact on our understanding of global financial markets and the innovative processes whereby scholars have adapted their research to gain a greater understanding of them. Among the contributors are José Scheinkman and Lars Peter Hansen, who bring up to date decades of collaborative research on the mechanisms that tie financial markets to the broader economy; Patrick Bolton, who argues that limiting bankers' pay may be more effective than limiting the activities they can undertake; Edward Glaeser and Bruce Sacerdote, who study the social dynamics of markets; and E. Glen Weyl, who argues that economists are influenced by the incentives their consulting opportunities create.

Financial crises --- Banks and banking --- Capital assets pricing model --- Prevention --- José Scheinkman. --- asset pricing. --- financial crisis. --- financial regulation. --- great recession.

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Art --- political art --- recession [economic concept] --- Flotron, Marianne --- Horvat, Vlatka --- Özgür, Ferhat --- Erhardt, Miklós --- Hofbauer, Anna --- Kaludjerović, Dejan --- Proschek, Markus --- Weiner, Seth