aarhus university department of political science to what extent did the financial crisis intensify...
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AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
To What Extent Did the Financial Crisis Intensify the Pressure to Reform the Welfare
State?
[Kees van Kersbergen, 2 March 2011]
AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
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DEPARTMENT OF POLITICAL SCIENCE
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AARHUS UNIVERSITY
Three phases:
1. Supporting banks
2. Keynesian macroeconomic policies
3. Cutbacks of social expenditures
Study of the United Kingdom, Germany and Sweden plus the Netherlands, Denmark and the United States
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AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
Bank Bailouts: a costly affair
Sweden: € 5 Billion ( 1.5 % of GDP)
Denmark: € 18 Billion ( 8.0 % of GDP)
NL € 20 Billion ( 7.0 % of GDP)
Germany €480 Billion (20 % of GDP)
US €519 Billion ( 5 % of GDP)
UK €960 Billion (60 % of GDP)
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AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
How to find out what’s happening?
› Moving target; “official” sources limited
› Qualitative content analysis of media sources, particularly national and international newspapers, documents from international organizations, news wire services, TV and radio broadcast transcripts and web publications (mainly through LexisNexis), between October 2009 and April 2010
› Additionally, we made use of published work (e.g. Mandl & Salvatore 2009; Clegg 2010)
› (Updating required…)
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AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
Similar responses? (1)
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Keynesian measuresMonetary policy
Circumventing bankruptcyRe-establishing trust in the banking sector
AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
Similar responses? (2)
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Keynesian measures
US NL UK GE DK SW
Investing in jobs x x x x x x
Investing in infrastructure
x
Tax measures x
Tax relief x x
AARHUS UNIVERSITY
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US NL UK DE DK SW
Labour demand measures
Job subsidies, recruitment incentives, public job creation X X
Reductions in non-wage labour costs X X
Short-time working schemes X X X
Measures to help the unemployed find work
Activation requirements X X
Job search assistance and matching X X X X X
Job finding and business startup incentives X
Work experience programs X X X
Training programs X X X X X X
AARHUS UNIVERSITY
DEPARTMENT OF POLITICAL SCIENCE
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DEPARTMENT OF POLITICAL SCIENCE
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DEPARTMENT OF POLITICAL SCIENCE
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DEPARTMENT OF POLITICAL SCIENCE
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