Pub Date : 2006-09-15DOI: 10.2966/SCRIP.030306.221
Eliza Varney
This article argues that the regulation of the DTV infrastructure cannot be limited to economic concerns and that it must also address citizenship values. The analysis focuses on the regulatory framework for electronic communications (eCommunications) in the European Union, with a particular emphasis on the control of bottleneck facilities. The argument for bringing public policy considerations under the European framework on eCommunications faces major difficulties. This could be achieved only in the long term and is dependent on the shaping of the European democratic dimension and on a greater supranational competence in matters such as pluralism and diversity in the communications sector. Under the current framework, public policy concerns in the communications sector are gradually forgotten, while the regulators are giving in to commercial pressures. The maintenance of the status quo commits the protection of citizenship values to an uncertain future and, unless we are prepared to look beyond economic interests in eCommunications, the commodification of the public will become an irreversible aspect of a market-dominated reality.
{"title":"Regulating the Digital Television Infrastructure in the EU - Room for Citizenship Interests?","authors":"Eliza Varney","doi":"10.2966/SCRIP.030306.221","DOIUrl":"https://doi.org/10.2966/SCRIP.030306.221","url":null,"abstract":"This article argues that the regulation of the DTV infrastructure cannot be limited to economic concerns and that it must also address citizenship values. The analysis focuses on the regulatory framework for electronic communications (eCommunications) in the European Union, with a particular emphasis on the control of bottleneck facilities. The argument for bringing public policy considerations under the European framework on eCommunications faces major difficulties. This could be achieved only in the long term and is dependent on the shaping of the European democratic dimension and on a greater supranational competence in matters such as pluralism and diversity in the communications sector. Under the current framework, public policy concerns in the communications sector are gradually forgotten, while the regulators are giving in to commercial pressures. The maintenance of the status quo commits the protection of citizenship values to an uncertain future and, unless we are prepared to look beyond economic interests in eCommunications, the commodification of the public will become an irreversible aspect of a market-dominated reality.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122761351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We provide new evidence on the impact of peer effects on the schooling decisions of teenagers. In November 1980 a major earthquake hit Southern Italy. In the aftermath, young men from certain towns were exempted from compulsory military service. We show that the exemption raised high school graduation rates of boys by more than 2 percentage points by comparing high school graduation rates of young exempt men and older not exempt men from the least damaged areas and men of the same age groups from nearby towns that were not hit by the quake. Similar comparisons show that graduation rates of young women in the affected areas rose by about 2 percentage points. Since in Italy women are not subject to drafting, we interpret these findings as evidence of social effects of the decision of teenage boys of staying longer in school on that of teenage girls. Our estimates suggest that an increase of 1 percentage point of male graduation rates raises female probability of completing high school by about 0.7-0.8 percentage points. A series of robustness checks, including comparisons across different age groups and with different definitions of the comparison areas, suggest that the rise was due to the earthquake-related exemption, rather than other factors.
{"title":"Social Interactions in High School: Lessons from an Earthquake","authors":"P. Cipollone, A. Rosolia","doi":"10.2139/ssrn.935008","DOIUrl":"https://doi.org/10.2139/ssrn.935008","url":null,"abstract":"We provide new evidence on the impact of peer effects on the schooling decisions of teenagers. In November 1980 a major earthquake hit Southern Italy. In the aftermath, young men from certain towns were exempted from compulsory military service. We show that the exemption raised high school graduation rates of boys by more than 2 percentage points by comparing high school graduation rates of young exempt men and older not exempt men from the least damaged areas and men of the same age groups from nearby towns that were not hit by the quake. Similar comparisons show that graduation rates of young women in the affected areas rose by about 2 percentage points. Since in Italy women are not subject to drafting, we interpret these findings as evidence of social effects of the decision of teenage boys of staying longer in school on that of teenage girls. Our estimates suggest that an increase of 1 percentage point of male graduation rates raises female probability of completing high school by about 0.7-0.8 percentage points. A series of robustness checks, including comparisons across different age groups and with different definitions of the comparison areas, suggest that the rise was due to the earthquake-related exemption, rather than other factors.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115699511","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We analyze short and long-term effects of worker displacement. Our focus is on prime-age male workers displaced from Norwegian manufacturing plants. We find that displacement increases the probability of exiting the labor force by about 5 percentage points. This indicates that studies using data that do not incorporate workers leaving the labor force, may strongly underestimate the costs of displacement. The most productive workers are recalled, transferred to a different plant within the firm, or they move to the private sector. The least productive re-employed workers move to the public sector. Generally, the earnings effects are weak. When controlling for worker fixed effects, we find that all workers suffer some short-term losses, even those re-employed within the same firm, but the only workers that seem to suffer a permanent earnings loss are the few who move to the public sector.
{"title":"How Destructive is Creative Destruction? The Costs of Worker Displacement","authors":"Kristiina Huttunen, Jarle Møen, K. Salvanes","doi":"10.2139/ssrn.936328","DOIUrl":"https://doi.org/10.2139/ssrn.936328","url":null,"abstract":"We analyze short and long-term effects of worker displacement. Our focus is on prime-age male workers displaced from Norwegian manufacturing plants. We find that displacement increases the probability of exiting the labor force by about 5 percentage points. This indicates that studies using data that do not incorporate workers leaving the labor force, may strongly underestimate the costs of displacement. The most productive workers are recalled, transferred to a different plant within the firm, or they move to the private sector. The least productive re-employed workers move to the public sector. Generally, the earnings effects are weak. When controlling for worker fixed effects, we find that all workers suffer some short-term losses, even those re-employed within the same firm, but the only workers that seem to suffer a permanent earnings loss are the few who move to the public sector.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114699884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We investigate the determinants of housing satisfaction in twelve EU countries. To do so, we use panel data covering the period 1994-2001, which allows us to control for individual heterogeneity. We carry out separate estimates on the determinants of housing satisfaction for homeowners and for renters and observe that: i) the tenure status is critical in determining the level of housing satisfaction; ii) housing satisfaction acts as trigger event of housing mobility, and; iii) dissatisfied renters are more likely to move than their homeowners counterparts. Our results also allow us to conclude that self-reported housing satisfaction is a meaningful variable able to explain individual’s objective economic behavior, since it is able to anticipate movements in the households’ demand for housing.
{"title":"Housing Satisfaction, Homeownership and Housing Mobility: A Panel Data Analysis for Twelve EU Countries","authors":"Luis Diaz-Serrano","doi":"10.2139/ssrn.936331","DOIUrl":"https://doi.org/10.2139/ssrn.936331","url":null,"abstract":"We investigate the determinants of housing satisfaction in twelve EU countries. To do so, we use panel data covering the period 1994-2001, which allows us to control for individual heterogeneity. We carry out separate estimates on the determinants of housing satisfaction for homeowners and for renters and observe that: i) the tenure status is critical in determining the level of housing satisfaction; ii) housing satisfaction acts as trigger event of housing mobility, and; iii) dissatisfied renters are more likely to move than their homeowners counterparts. Our results also allow us to conclude that self-reported housing satisfaction is a meaningful variable able to explain individual’s objective economic behavior, since it is able to anticipate movements in the households’ demand for housing.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"130 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132177814","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We test for efficiency in the market for Swedish co-ops by examining the negative relationship between the sales price and the present value of future rents. If the co-op housing market is efficient, the present value of co-op rental payments due to underlying debt obligations of the cooperative should be fully reflected in the sales price. However, we find that, on average, a one hundred kronor increase in the present value of future rents only leads to a 45 to 65 kronor reduction in the sales price; co-ops with higher rents are thus relatively overpriced compared to those with lower rents. Our analysis indicates that pricing tends to be more efficient in areas with higher educated and wealthier buyers. By relying on cross-sectional relationships in the data, our results are less sensitive to transaction costs and other frictions than time-series tests of housing market efficiency.
{"title":"Efficiency in Housing Markets: Do Home Buyers Know How to Discount?","authors":"Erik Hjalmarsson, Randi Hjalmarsson","doi":"10.2139/ssrn.958097","DOIUrl":"https://doi.org/10.2139/ssrn.958097","url":null,"abstract":"We test for efficiency in the market for Swedish co-ops by examining the negative relationship between the sales price and the present value of future rents. If the co-op housing market is efficient, the present value of co-op rental payments due to underlying debt obligations of the cooperative should be fully reflected in the sales price. However, we find that, on average, a one hundred kronor increase in the present value of future rents only leads to a 45 to 65 kronor reduction in the sales price; co-ops with higher rents are thus relatively overpriced compared to those with lower rents. Our analysis indicates that pricing tends to be more efficient in areas with higher educated and wealthier buyers. By relying on cross-sectional relationships in the data, our results are less sensitive to transaction costs and other frictions than time-series tests of housing market efficiency.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133153151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A high degree of cyclical synchronization between the new EU member states (NMS) from central and eastern Europe and the euro area is generally seen as a prerequisite for successful EMU enlargement. This paper investigates comovements between NMS and the euro area. We first establish stylized facts on economic linkages using dynamic correlation and cohesion measures. We then identify the main structural common euro-area shocks and investigate their transmission to the NMS in comparison to the current EMU members by means of a large-scale dynamic factor model. Overall, our results are mixed. Dynamic business cycle and inflation correlations between NMS and the euro area are, on average, lower than between individual EMU members and the euro area, but they are higher than for some small peripheral EMU countries. This is confirmed by our other measure, variance shares of output and inflation explained by common euro-area factors. The proliferation of euro-area shocks to the NMS does not differ significantly from the propagation to EMU countries in most cases. There seems to be considerable heterogeneity across NMS, implying that for some countries, accession to EMU would be more costly than for others. According to our analysis and based on our measures, Poland, Slovenia, Hungary and Estonia are more suitable EMU candidates than other countries.
{"title":"How Synchronized are New EU Member States with the Euro Area? Evidence from a Structural Factor Model","authors":"Sandra Eickmeier, J. Breitung","doi":"10.2139/ssrn.732525","DOIUrl":"https://doi.org/10.2139/ssrn.732525","url":null,"abstract":"A high degree of cyclical synchronization between the new EU member states (NMS) from central and eastern Europe and the euro area is generally seen as a prerequisite for successful EMU enlargement. This paper investigates comovements between NMS and the euro area. We first establish stylized facts on economic linkages using dynamic correlation and cohesion measures. We then identify the main structural common euro-area shocks and investigate their transmission to the NMS in comparison to the current EMU members by means of a large-scale dynamic factor model. Overall, our results are mixed. Dynamic business cycle and inflation correlations between NMS and the euro area are, on average, lower than between individual EMU members and the euro area, but they are higher than for some small peripheral EMU countries. This is confirmed by our other measure, variance shares of output and inflation explained by common euro-area factors. The proliferation of euro-area shocks to the NMS does not differ significantly from the propagation to EMU countries in most cases. There seems to be considerable heterogeneity across NMS, implying that for some countries, accession to EMU would be more costly than for others. According to our analysis and based on our measures, Poland, Slovenia, Hungary and Estonia are more suitable EMU candidates than other countries.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"97 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116219067","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2006-08-01DOI: 10.1920/WP.IFS.2006.0616
J. Adda, C. Dustmann, C. Meghir, J. Robin
We develop a dynamic discrete choice model of training choice, employment and wage growth, allowing for job mobility, in a world where wages depend on firm-worker matches, as well as experience and tenure and jobs take time to locate. We estimate this model on a large administrative panel data set which traces labour market transitions, mobility across firms and wages from the end of statutory schooling. We use the model to evaluate the life-cycle return to apprenticeship training and find that on average the costs outweigh the benefits; however for those who choose to train the returns are positive. We then use our model to consider the long-term lifecycle effects of two reforms: One is the introduction of an Earned Income Tax Credit in Germany, and the other is a reform to Unemployment Insurance. In both reforms we find very significant impacts of the policy on training choices and on the value of realised matches, demonstrating the importance of considering such longer term implications.
{"title":"Career Progression and Formal Versus On-the-Job Training","authors":"J. Adda, C. Dustmann, C. Meghir, J. Robin","doi":"10.1920/WP.IFS.2006.0616","DOIUrl":"https://doi.org/10.1920/WP.IFS.2006.0616","url":null,"abstract":"We develop a dynamic discrete choice model of training choice, employment and wage growth, allowing for job mobility, in a world where wages depend on firm-worker matches, as well as experience and tenure and jobs take time to locate. We estimate this model on a large administrative panel data set which traces labour market transitions, mobility across firms and wages from the end of statutory schooling. We use the model to evaluate the life-cycle return to apprenticeship training and find that on average the costs outweigh the benefits; however for those who choose to train the returns are positive. We then use our model to consider the long-term lifecycle effects of two reforms: One is the introduction of an Earned Income Tax Credit in Germany, and the other is a reform to Unemployment Insurance. In both reforms we find very significant impacts of the policy on training choices and on the value of realised matches, demonstrating the importance of considering such longer term implications.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125084654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper presents a fiscal estimate of Bulgaria's perspective European Union (EU) membership. The projected EU funds have two distinct effects: first, there is the overall effect on the balance of payments of the country; and second, there is the pure effect on the national budget. The paper concludes that Bulgaria is likely to benefit from large net inflows of resources of an average of 3.7 percent of gross domestic product (GDP) in 2007-09. In contrast, its fiscal position is expected to deteriorate by 1.6 percent of GDP on average in 2007-09 if no expenditure restructuring of the fiscal framework is carried out. The expected deterioration of the public finances related to EU accession would be due to co-financing requirements, national contributions to the EU budget, and possible full pre-financing of the EU direct payments to Bulgarian farmers in the first year of accession. However, the above expenditures will be partly offset by the budgetary compensation allocated out of the EU budget, savings from agricultural subsidies, and shifting of certain public expenditures to Cohesion Fund-supported projects.
{"title":"Untangling the Maze of European Union Funds to Bulgaria","authors":"G. Vincelette, I. Vassileva","doi":"10.1596/1813-9450-3962","DOIUrl":"https://doi.org/10.1596/1813-9450-3962","url":null,"abstract":"The paper presents a fiscal estimate of Bulgaria's perspective European Union (EU) membership. The projected EU funds have two distinct effects: first, there is the overall effect on the balance of payments of the country; and second, there is the pure effect on the national budget. The paper concludes that Bulgaria is likely to benefit from large net inflows of resources of an average of 3.7 percent of gross domestic product (GDP) in 2007-09. In contrast, its fiscal position is expected to deteriorate by 1.6 percent of GDP on average in 2007-09 if no expenditure restructuring of the fiscal framework is carried out. The expected deterioration of the public finances related to EU accession would be due to co-financing requirements, national contributions to the EU budget, and possible full pre-financing of the EU direct payments to Bulgarian farmers in the first year of accession. However, the above expenditures will be partly offset by the budgetary compensation allocated out of the EU budget, savings from agricultural subsidies, and shifting of certain public expenditures to Cohesion Fund-supported projects.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132216814","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A central finding in happiness research is that a person’s income relative to the average income in her social reference group is more important for her life satisfaction than the absolute level of her income. This dependence of life satisfaction on relative income can be related to the reference dependence of the value function in Kahneman and Tversky’s (1979) prospect theory. In this paper we investigate whether the characteristics of the value function like concavity for gains, convexity for losses, and loss aversion apply to the dependence of life satisfaction on relative income. This is tested with a new measure for the reference income for a large German panel for the years 1984-2001. We find concavity of life satisfaction in positive relative income, but unexpectedly strongly significant concavity of life satisfaction in negative relative income as well. The latter result is shown to be robust to extreme distortions of the reported-life-satisfaction scale. It implies a rising marginal sensitivity of life satisfaction to more negative values of relative income, and hence loss aversion (in a wide sense). This may be explained in terms of increasing financial obstacles to social participation.
{"title":"Happiness and Loss Aversion: When Social Participation Dominates Comparison","authors":"M. Vendrik, G. Woltjer","doi":"10.26481/UMAMET.2006027","DOIUrl":"https://doi.org/10.26481/UMAMET.2006027","url":null,"abstract":"A central finding in happiness research is that a person’s income relative to the average income in her social reference group is more important for her life satisfaction than the absolute level of her income. This dependence of life satisfaction on relative income can be related to the reference dependence of the value function in Kahneman and Tversky’s (1979) prospect theory. In this paper we investigate whether the characteristics of the value function like concavity for gains, convexity for losses, and loss aversion apply to the dependence of life satisfaction on relative income. This is tested with a new measure for the reference income for a large German panel for the years 1984-2001. We find concavity of life satisfaction in positive relative income, but unexpectedly strongly significant concavity of life satisfaction in negative relative income as well. The latter result is shown to be robust to extreme distortions of the reported-life-satisfaction scale. It implies a rising marginal sensitivity of life satisfaction to more negative values of relative income, and hence loss aversion (in a wide sense). This may be explained in terms of increasing financial obstacles to social participation.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128244170","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The European space finds itself in a moment of profound change. On one hand it is adapting to the challenges that are inherent to the global, post-industrial economy. A shift from traditional manufacturing towards innovative and service oriented activities, the relocation of economic activities to countries where inputs, in particular labour, are cheaper, an ageing population in combination with growing in migration from non-member countries have an immediate impact on the Europe of Regions. On the other hand, the extension of the European Union towards the East inevitably triggers complex and Europe-wide processes of social, economic and territorial reorganization. In this context, the role of Cultural Heritage and Identity (CHI) may very well become a very crucial one. First of all, cultural heritage and identity are assets that are putting Europe in pole position with respect to the rest of the world, offering all European regions, no one excluded, unique social and economic development opportunities. They are important inputs for the creative industry and the tourist industry, two of the most important (the second already employs more than 10% of the global workforce) and dynamic sectors of the post-industrial economy. Moreover, cultural assets are typical place products that can not be separated nor moved from the regions they are located in. This makes these economic strictly bound to that location and impossible to re-localize. Thirdly, many cultural assets and traditions are not only points of reference for the local populations but for Europeans as such. Finally, in a Europe that is pursuing cohesion and competitiveness contemporarily, CHI forms sort of a natural bridge between two (apparently) not always compatible objectives. This means that CHI should become a cornerstone of European territorial policy.
{"title":"Towards a European Spatial Policy for Culture","authors":"Jan van der Borg, Paolo Russo","doi":"10.2139/ssrn.947815","DOIUrl":"https://doi.org/10.2139/ssrn.947815","url":null,"abstract":"The European space finds itself in a moment of profound change. On one hand it is adapting to the challenges that are inherent to the global, post-industrial economy. A shift from traditional manufacturing towards innovative and service oriented activities, the relocation of economic activities to countries where inputs, in particular labour, are cheaper, an ageing population in combination with growing in migration from non-member countries have an immediate impact on the Europe of Regions. On the other hand, the extension of the European Union towards the East inevitably triggers complex and Europe-wide processes of social, economic and territorial reorganization. In this context, the role of Cultural Heritage and Identity (CHI) may very well become a very crucial one. First of all, cultural heritage and identity are assets that are putting Europe in pole position with respect to the rest of the world, offering all European regions, no one excluded, unique social and economic development opportunities. They are important inputs for the creative industry and the tourist industry, two of the most important (the second already employs more than 10% of the global workforce) and dynamic sectors of the post-industrial economy. Moreover, cultural assets are typical place products that can not be separated nor moved from the regions they are located in. This makes these economic strictly bound to that location and impossible to re-localize. Thirdly, many cultural assets and traditions are not only points of reference for the local populations but for Europeans as such. Finally, in a Europe that is pursuing cohesion and competitiveness contemporarily, CHI forms sort of a natural bridge between two (apparently) not always compatible objectives. This means that CHI should become a cornerstone of European territorial policy.","PeriodicalId":181797,"journal":{"name":"European Economics eJournal","volume":"05 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129393124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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