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Governments have great difficulties to design politically sustainable responses to rising public debt. These difficulties are grounded in a limited understanding of the popular constraints during times of fiscal pressure. For instance, an influential view claims that fiscal austerity does not...
Persistent link: https://www.econbiz.de/10012850818
Why do individuals' preferences for redistribution diverge widely from their material self-interest? Using an original online survey experiment spanning eight countries and 12,000 respondents across Latin America, one of the most unequal regions in the world, we find significant evidence for an...
Persistent link: https://www.econbiz.de/10014358110
The European debt crisis has uncovered a serious tension between democratic politics and market pressure in contemporary democracies. This tension arises when governments implement unpopular fiscal consolidation packages in order to raise their macroeconomic credibility among financial...
Persistent link: https://www.econbiz.de/10012856603
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Whereas some researchers emphasize how World Trade Organization (WTO) dispute settlement reduces complexity and clarifies legislation, others argue that dispute rulings promote co-operation by providing an enforcement mechanism. This article identifies empirical implications from these distinct...
Persistent link: https://www.econbiz.de/10014156398
In democratic societies, international integration requires popular approval. What determines the level of public support for international integration? We argue that national economic performance and the stringency of the proposed integration treaty modify the effects of two individual...
Persistent link: https://www.econbiz.de/10014156408
The strong presence of large countries in World Trade Organisation (WTO) dispute settlement and the absence of very poor ones have raised concerns that increasing legalisation in the global trading system has not diminished discrimination against less powerful countries as much as expected. This...
Persistent link: https://www.econbiz.de/10014156422
How do changes in the balance of power, such as the power transition between the U.S. and China, affect public support for international cooperation? Power transitions not only spur political conflict between the dominant and the rising power, but also lead to severe economic disruptions....
Persistent link: https://www.econbiz.de/10014081958
This article assesses the popular view that currency crises represent a prime example of the constraints that globalization imposes on government room to maneuver. We show that governments in fact have the possibility to respond to speculative pressure in different ways. Whether or not...
Persistent link: https://www.econbiz.de/10013032443