Being NEET in Europe Before and After the Economic Crisis: An Analysis of the Micro and Macro Determinants

The right to adequate minimum income protection is one of the key principles included in the European Pillar of Social Rights (EPSR). The EPSR takes a right-based and normative approach, aiming specifically at fulfilling people’s essential needs, not only by guaranteeing sufficiently high income levels, but also by promoting labour market inclusion and access to affordable goods and services of good quality. This paper takes the EPSR as a starting point to propose a needs-based indicator that assesses the adequacy of minimum income protection including these three dimensions in a comprehensive way. We argue that Reference Budgets (RBs), priced baskets of goods and services that represent an adequate living standard, are well-suited to construct such an indicator. To illustrate this empirically, we use RBs for adequate social participation in Belgium which have been constructed for the first time in 2008 and have been regularly updated since then. Through a combination of hypothetical household simulations of essential out-of-pocket costs and designated tax-benefits for families living on different minimum income schemes, we are able to assess the adequacy of minimum income protection for a range of household types over the period 2008–2017. The paper shows that, the proposed indicator is a useful policy tool for both ex-ante and ex-post evaluations of the adequacy of social policy measures in light of the social protection and inclusion rights included in the Pillar.

     

Influenza-Like Illness Among University Students: Symptom Severity and Duration Due to Influenza Virus Infection Compared to Other Etiologies

Abstract

Objective: University students with influenza-like illness (ILI) were assessed to determine whether symptom severity, duration, or missed days of school or work varied according to etiology. Participants: Sixty persons presenting to a university health clinic with ILI symptoms during 3 consecutive influenza seasons completed baseline survey and viral testing; 51 (85%) completed follow-up. Methods: Influenza viral culture and polymerase chain reaction and respiratory virus immunofluorescence assay testing were performed. Information collected at baseline and follow-up included symptom occurrence, severity, duration, and numbers of days of work and school missed. Results: Influenza virus was confirmed in 63% of participants. Influenza-positive individuals were no more likely to report any symptom or miss more days of school or work. Self-reported severity and durations of symptoms were similar between groups. Conclusions: Students with influenza-associated ILI were similar to those with noninfluenza ILI with respect to severity, duration, and numbers of days of school and work missed.     

Can the EU funds promote regional resilience at time of Covid-19? Insights from the Great Recession

This paper makes some contributions to the policy discussion on Covid-19. We present real-time evidence on the effects of the coronavirus crisis on regional employment in Italy, by finding that the current shock is producing major adverse consequences in the South and on female occupation. We document that both the absorption and the allocation of the EU funds can sustain the resilience of regional labour markets, by reducing the employment losses at time of Covid-19. We construct regional employment adjustment scenarios based on information and estimates observed during the Great Recession. We discuss the limits of our approach and future developments.     

DO WOMEN PAY MORE FOR CREDIT? EVIDENCE FROM ITALY

By using a unique and large data set on loan contracts between banks and microfirms, we find robust evidence that women in Italy pay more for credit than men, although we do not find any evidence that women borrowers are riskier than men. The male/female differential remains even after controlling for a large number of characteristics of the type of business, the borrower, and the structure of the credit market. The result is not driven by lack of credit history, nor by women using a different type of bank than men, since the same bank charges different rates to male and female borrowers.     

Why Rates of Growth of Employment Differ: A Quantitative Approach to an International Comparison

ABSTRACT: This essay aims at presenting a quantitative assessment of the incidence of structural differences in output and employment composition, and of differential dynamics of the sectoral production and productivity, in order to explain the divergences in net employment growth in advanced market economies. The point of reference is the extremely divergent record, in terms of employment creation, of the United States on one hand, and Western European countries on the other. In the period 1973-80, for example, although the average growth rates of GNP were, on a cyclical average, similar in the U. S. A. and the EEC areas as a whole, additional job openings were about 14 million in the USA against less than half a million in the EEC. A structural, medium-run differential in the aggregate Employment/GNP elasticity appears to have characterized the performances of these economic systems. The 'source’of this differential are analyzed, utilizing a model of sectoral decomposition of employment and output trends. Simulation exercises are carried out, in order to assess the specific role of productivity, sectoral demand composition and sectoral employment composition, in determining the overall elasticity result. The comparative analysis takes into consideration the differential factors for the USA and Japan, together with the four major Western European countries (German Fed. Rep., France, Italy, and the United Kingdom).     

A Subjective Spin on Roulette Wheels

We provide a simple behavioral definition of ‘subjective mixture’ of acts for a large class of (not necessarily expected‐utility) preferences. Subjective mixtures enjoy the same algebraic properties as the ‘objective mixtures’ used to great advantage in the decision setting introduced by Anscombe and Aumann (1963). This makes it possible to formulate mixture‐space axioms in a fully subjective setting. For illustration, we present simple subjective axiomatizations of some models of choice under uncertainty, including Bewley's model of choice with incomplete preferences (2002).