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This book analyzes the dynamics through which the two major communist parties of the capitalist world-which in the 1970s had great influence on their respective national political contexts since the 1980s are increasing their marginality and, although in different forms and with different timeframes are unable to stem the decline of their political and cultural influences on the working classes. Marco Di Maggio is Assistant Professor in Contemporary History at Sapienza University of Rome, Italy.

Politics --- History --- History of France --- History of Italy --- History of Eastern Europe --- History of Europe --- nieuwste tijd --- geschiedenis --- politiek --- wereldpolitiek --- Europese geschiedenis --- Europese politiek --- nieuwe tijd --- anno 1500-1799 --- anno 1800-1999 --- France --- Europe

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Politics --- History --- History of France --- History of Italy --- History of Eastern Europe --- History of Europe --- nieuwste tijd --- geschiedenis --- politiek --- wereldpolitiek --- Europese geschiedenis --- Europese politiek --- nieuwe tijd --- anno 1500-1799 --- anno 1800-1999 --- France --- Europe

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We assess the extent to which unemployment insurance (UI) serves as an automatic stabilizer to mitigate the economy's sensitivity to shocks. Using a local labor market design based on heterogeneity in local benefit generosity, we estimate that a one standard deviation increase in generosity attenuates the effect of adverse shocks on employment growth by 7% and on earnings growth by 6%. Consistent with a local demand channel, we find that consumption is less responsive to local labor demand shocks in counties with more generous benefits. Our analysis finds that the local fiscal multiplier of unemployment insurance expenditure is approximately 1.9.