Chapter 1 provides an overview of the CRAs’ activities, as well as a map of the role played by ratings in the financial markets. It explores the CRA industry by taking into consideration the importance of improving disclosure and transparency ratings. This reflection identifies some key aspects, notably the extent to which the ratings industry can reduce conflicts of interest and investors’ over-reliance. This chapter further addresses the need to enhance the organizational and governance rules of CRAs. The overriding proposition is that CRAs should be liable for the issuance of inaccurate ratings. The analysis delineates the contours of the legal aspects of the credit ratings market before addressing the major questions regarding a CRA’s modus operandi.
Edited by Charles A. Ingene, James R. Brown and Rajiv P. Dant
Ondřej Hora, Markéta Horáková and Tomáš Sirovátka
Surprisingly, there is limited knowledge about how policies at national level have shaped specific ‘youth policy packages’. We discuss what might be the distinctive features of ‘youth employment/school-to-work transition regimes’ when exploring the interactions between four public policy fields: education, active employment policies, employment protection legislation and unemployment income protection. Our specific contribution is an attempt to integrate the existing studies of policies for young people into coherent patterns of policy packages. Coming from the existing theories/typologies of production regimes, (un)employment regimes and school-to-work transition regimes, we characterize the general profiles and interactions of these regimes in four policy fields. We distinguish between the inclusive regime represented by Norway in this book; the employment-centred regime represented by Germany and Switzerland; the liberal regime represented by the United Kingdom; the sub-protective regime represented by Greece and Spain; and the transitional/post-socialist regime represented by Bulgaria, Czech Republic and Poland.
Sara Ayllón, Margherita Bussi, Jacqueline O’Reilly, Mi Ah Schoyen, Ida Tolgensbakk and Ann McDonnell
This chapter asks whether young people change their behaviour and attitudes towards drug use in times of economic crisis and, if so, how. We address this question looking at the links between early job insecurity and drug consumption through quantitative and qualitative data. What role might drugs have in creating and coping with unstable personal situations and ‘unconventional’ transitions into adult life? We find that increased unemployment is associated with a rise in the consumption of certain drugs, and we explore the bounded agency of young people’s subjective experiences in such situations.
This chapter seeks to answer the question as to why in some European countries the difference in subjective well-being between employed and unemployed youth is substantial, whereas in others it remains negligible. The main argument of this chapter claims that the relationship between employment and well-being is particularly strong in countries of high employment quality. This idea is verified empirically with the use of data from the European Social Survey.
Maria Karamessini, Maria Symeonaki, Glykeria Stamatopoulou and Dimitris Parsanoglou
This chapter is concerned with factors explaining youth unemployment and inactivity in European countries. We analyse to what extent specific demographic characteristics (gender, educational attainment, nationality, age, degree of urbanization and parental education) are good predictors of the probability of European youth being unemployed or inactive. The analysis makes use of the micro data behind the European Union’s Labour Force Survey for the years 2008 and 2015. A multinomial logistic regression is applied to shed light on youth unemployment and inactivity in nine European countries and their relationship to the above-mentioned sociodemographic variables. We thus identify the features of these countries for the years 2008 and 2015 that are most likely significant for a young individual’s risk of unemployment or inactivity. The analysis reveals that in all countries in 2015 the factor that most decisively affects youth unemployment and inactivity is age.