The Resource A cultural clash view of the EU crisis, Luigi Guiso, Helios Herrera and Massimo Morelli, (electronic resource)

A cultural clash view of the EU crisis, Luigi Guiso, Helios Herrera and Massimo Morelli, (electronic resource)

Label
A cultural clash view of the EU crisis
Title
A cultural clash view of the EU crisis
Statement of responsibility
Luigi Guiso, Helios Herrera and Massimo Morelli
Creator
Contributor
Author
Subject
Language
eng
Summary
If voters of different countries adhere to different and deeply rooted cultural norms, when these countries interact their leaders may find it impossible to agree on effcient policies especially in hard times. Political leaders' actions are bound by a "conformity constraint" that requires them to express policies that do not violate these norms. This inhibits politicians from adopting the optimal policies as they may clash with either one or the other of the cultures of the interacting countries. We model this mechanism and argue that conformity constraints and cultural clash can help us understand the poor management of the Greek crisis and the resulting European Sovereign debt crisis. We show the conditions under which the introduction in Europe of a fiscal union can be obtained with consensus and be beneficial. Perhaps counter-intuitively, cultural diversity makes a fiscal union even more desirable
Member of
Cataloging source
GZM
http://library.link/vocab/creatorName
Guiso, Luigi
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Herrera, Helios
  • Morelli, Massimo
  • Centre for Economic Policy Research (Great Britain)
Series statement
  • Discussion paper series,
  • Financial economics
Series volume
no. 9679
http://library.link/vocab/subjectName
  • Fiscal policy
  • Monetary unions
  • Financial crises
Label
A cultural clash view of the EU crisis, Luigi Guiso, Helios Herrera and Massimo Morelli, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
  • "October 2013."
  • "Submitted 01 October 2013."
Bibliography note
Includes bibliographical references (pages 30-34)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb1746870x
Extent
1 online resource (48 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)859777922
Label
A cultural clash view of the EU crisis, Luigi Guiso, Helios Herrera and Massimo Morelli, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
  • "October 2013."
  • "Submitted 01 October 2013."
Bibliography note
Includes bibliographical references (pages 30-34)
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb1746870x
Extent
1 online resource (48 pages)
Form of item
online
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)859777922

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