Major European Union Countries Research Articles

European survey: citizens' attitudes on personalized medicine, genetic testing andhealth data sharing - design and delivery.

In the transformative landscape of healthcare, personalized medicine emerges as a pivotal shift, harnessing genetic, environmentaland lifestyle data to tailor medical treatments for enhanced outcomes and cost efficiency. Central to its success is public engagement and consent to share health dataamidst rising data privacy concerns. To investigate European public opinion on this paradigm, we executed a comprehensive cross-sectional survey to capture the general public's views on personalized medicine and data-sharing modalities, including digital tools and electronic records. The survey was distributed in eight major European Union countries and the results aim at guiding future policymaking and trust-building measures for secure health data exchange. This articledelineates our methodological approach, whereby survey findings will be expounded in subsequent publications.

The Global Health Security Index: Another Look.

The Global Health Security Index (GHSI) was published in October 2019 (after more than 2 years in preparation); at about the same time that the COVID-19 pandemic (COVID) started. The GHSI was intended to score countries' pandemic preparedness. Within months of the start of the pandemic, articles began to be published that claimed to assess the GHSI's validity. They correlated GHSI scores with countries' COVID per capita death rates. They showed that the better prepared a country, the higher the death rate: a result that was counter to what would have been expected. This article takes another look at the GHSI by exploring the relationship in major European Union countries plus the United Kingdom. The analysis reported here confirms that early on the higher the GHSI score, the higher the COVID per capita death rate (r = 0.52, P < 0.05). But, by the end of 2020, there was no correlation. By July 2021, the correlation was in the expected direction: the higher the GHSI score, the lower the COVID per capita death rate (r = -0.55, P < 0.05); ditto case fatality rate (r = -0.74, P < 0.01). Further, the GHSI was better correlated with excess mortality, the best measure of pandemic impact (r = -0.69, P < 0.01). However, per capita GDP was as good a predictor of excess mortality (r = -0.71, P < 0.01) and the Health System Performance Index of case fatality rate (r = -0.71; P < 0.01). By the end of 2021, the correlation between GHSI scores and COVID per capita death rates had strengthened (r = -0.71; P < 0.01). This exploratory analysis is not intended to produce generalizable conclusions about the effectiveness of countries' COVID pandemic response management, which continues to evolve and hence can only be properly assessed after the pandemic has ended. Nevertheless, the following conclusions would seem to be warranted: 1) there seems to have been a rush to judge, or, at least, to publish, and 2) the validity of any forward looking pandemic preparedness score depends not only on being able to assess countries' capabilities but also being able to forecast what governments will (and will not) do in any given situation, a seemingly quixotic quest.

Economic policy uncertainty: The probability and duration of economic recessions in major European Union countries

We study the impact of economic policy uncertainty on the probability and duration of economic recessions in 10 major European Union countries over the period 1987Q2–2021Q1. We find that economic policy uncertainty results in not only a higher probability of economic recessions but also longer recessions. Specifically, with a one-standard-deviation increase in the economic policy uncertainty index, on average the probability of an economic recession goes up by 14%, and the probability of an economic recession ending reduces by 27%, controlling for general economic uncertainty and economic and political factors. Moreover, we find that fiscal expansion, adequate political support, and left-wing governments’ policies are important to alleviate the effects of policy uncertainty on the likelihood of economic recessions.

Economic policy uncertainty: The probability and duration of economic recessions in major European countries

We study the impact of economic policy uncertainty on the probability and duration of economic recessions in 10 major European Union countries over the period 1987Q2-2021Q1. We find that economic policy uncertainty results in not only a higher probability of economic recessions but also longer recessions. Specifically, with a one-standard-deviation increase in the economic policy uncertainty index, on average the probability of an economic recession goes up by 14%, and the probability of an economic recession ending reduces by 27%, controlling for general economic uncertainty and economic and political factors. Moreover, we find that fiscal expansion, adequate political support, and left-wing governments’ policies are important to alleviate the effects of policy uncertainty on the likelihood of economic recessions.

Sustainable energy development in the major power-generating countries of the European Union: The Pinch Analysis

In the European Union, the 2020 Climate & Energy Package and 2030 Climate & Energy Framework envisaged gains in energy efficiency and reduction in the greenhouse gas emissions in order to ensure sustainable development of the economy. However, the European Union Member States differ in their energy systems and level of economic development. In this context, the paper seeks to identify the possible outcomes of increase in the production of cleaner energy in the major European Union countries. This provides evidence on the possible energy-mix across different European Union Member States. The study applied the Pinch Analysis in order to identify the energy-mix for electricity generation which corresponds to the goal of the GHG emission reduction of major electricity producers in Europe taking into account the possible promotion of the different types of RES. The countries chosen for the analysis include Poland, the Netherlands, Germany, Italy, the United Kingdom, Spain, France and Sweden. The carried out Pinch Analysis revealed the possible pathways for increasing the penetration of specific types of renewables in selected countries which may lead to GHG emission reduction.

Sovereign risk evaluation for European Union countries

This study investigates the short run and the long run relationship between government bond yields and their associated credit default swaps (CDS), using co-integration and Granger causality techniques, for eight major European Union countries, over three different periods, considering the global financial and the resultant European debt crises. Moreover, this study tries to explore the interactions between changes in sovereign debt ratings and the corresponding credit premiums as an effort to examine the role of top credit rating agencies in defining CDS prices and as an attempt to illuminate the importance of the announcement date based on an event study.

The problem of not waste sorting behaviour, comparison of waste sorters and non-sorters in European Union: Cross-cultural analysis

In the European Union (EU), 3.3% of respondents declared that they did not sort waste at all. The level of non-sorter behaviour depends on the level of a country's economic development. Referring to Hofstede's cultural dimensions, only power distance, uncertainty avoidance, and indulgence had significant effects on non-sorting behaviour. The non-sorter respondents were less linked to performe waste reducing and reusing behaviours. The tools which convince respondents to begin separating waste or separate wastes more differed between sorters and non-sorters as well. The sorters preferred to trust the level of waste management while non-sorter respondents responded to convenience level. Analysing the determinants of sorting behaviour in separate EU countries, we found that only efforts to reduce waste positively influenced sorting behaviour in major EU countries. Attitudes to resource efficiency positively influenced in one third of EU countries. Meanwhile the knowledge about general and personal waste generation influenced sorting behaviour negatively or insignificantly (except Spain and Hungary). Thus, to promote sorting behaviour, it is not enough to inform people that we have a lot of waste. Therefore, this study has significant implications for waste policy and can help to trigger and promote more sorting behaviour in EU countries.

Spread of Populism in Major EU Countries and Its Policy Implications

The UK voters decision to leave the European Union (EU) despite the near-unanimous warnings of economists sparked serious concerns about the spread...

Integration and Efficiency Convergence in European Life Insurance Markets

This study examines the impact of integration on the efficiency of European Union (EU) life insurance markets for the post deregulation period 1998-2007. To assess the effects of deregulation, we first estimate cost and revenue efficiencies by applying the metafrontier data envelopment analysis (DEA) approach, which facilitates efficiency comparisons across countries. In the second stage, we test the degree of inter-country convergence as well as cross sectional dispersion by using panel data models. Our findings show that efficiencies have converged and that the dispersion of mean efficiency scores across countries has been reduced, providing evidence of integration in the EU life insurance market. Results also show the β-convergence and σ-convergence in metatechnology efficiency ratios suggesting that technological discrepancy among the life insurance markets of major EU countries has decreased. We also find that financial market development, legal and governmental systems, as well as competitive intensity affect insurance market performance and integration.

Competition, Efficiency, and Soundness in European Life Insurance Markets

This study examines the impact of integration on the efficiency of European Union (EU) life insurance markets for the post deregulation period 1998-2007. To assess the effects of deregulation, we first estimate cost and revenue efficiencies by applying the metafrontier data envelopment analysis (DEA) approach, which facilitates efficiency comparisons across countries. In the second stage, we test the degree of inter-country convergence as well as cross sectional dispersion by using panel data models. Our findings show that efficiencies have converged and that the dispersion of mean efficiency scores across countries has been reduced, providing evidence of integration in the EU life insurance market. Results also show the β-convergence and σ-convergence in metatechnology efficiency ratios suggesting that technological discrepancy among the life insurance markets of major EU countries has decreased. We also find that financial market development, legal and governmental systems, as well as competitive intensity affect insurance market performance and integration.

Foreign Capital in the Structural Transformation of the Polish Banking Sector During the Global Crisis

The Polish banking sector, in contrast to other major European Union countries, has been for many years dominated by banks either controlled by foreign capital or owned by a foreign credit institution. Such a situation is mainly a consequence of the privatization policy that was due to the transformation process of the Polish economy that began after the fall of communism in 1989. At the beginning of the reforms in the early 1990s, the greatest obstacle to the banking system market construction was the lack of domestic capital, as well as the right knowledge of banking.The purpose of the paper is to define the role of foreign capital in the structural transformation of the Polish banking sector during the global crisis. The analysis is based on data published by the Financial Supervision Commission (KNF), the Polish National Bank (NBP), the European Central Bank (ECB) and the information included in the National Court Register.In view of the origin of certain strategic investors -- especially from countries with large economic problems (Italy, Greece, Spain, Portugal) and the continuing difficulties many foreign strategic investors should expect further consolidation, which will reflect the mergers and acquisitions in the global financial market.

Ideal Type Organisations and Company Law in Europe

Different national cultures within Western Europe have very different models of what constitutes a 'well-functioning organisation'. Looking at the nations with the largest economies in the European Union (the French, Germans, Italians and British), the author considers how some of these different models (the 'pyramid', the 'machine', the 'family' and the 'market') have influenced the company laws of the countries in which they are prevalent. The piece then considers the implications for European Union company law of the variations between the predominant national models. Strengths and weaknesses of the various ideal types of organization and other possible models are considered. This article will examine companies in the quartet of European Union countries which have an annual GDP exceeding 1.5 trillion euros: Germany, France, the UK and Italy. Very broadly, two of them, France and Italy are Southern European (traditionally mainly Catholic) in culture as well as geographically, the other two are Northern European (historically mainly Protestant). The four nations remain diverse in economic structure, and particularly in average company size and the use of capital markets, although (with Germany being much the largest) the scale of the economies is similar. These major European Union countries also have different pre dominant models of effective corporate organisation, regulation and management. The discussion will contend that the diverse sets of regulations in part stem from, and are connected to, varied models of what constitutes a 'well-functioning organisation' in the four nations. These pervasive 'ideal types' of the effective organisation might be expected to influence what governments, shareholders and other stakeholders expect of the major companies and how corporate leaders behave. In the European Union, it is argued that national cultures, including views of what constitutes a well-functioning organisation, still provide the basis for social interaction including business activity. Some implications of these underlying differences of perspective for greater co-ordination of company law at European Union level will also be addressed. The strengths and weaknesses of the various 'ideal types' of organisation will be considered. Finally, some possible alternative conceptions of the 'well-organised' company in the 21st Century will be discussed. The continuing diversity of national cultures between Germany, France, the UK and Italy is reflected in their nationals' preferred ways of conceptualising organisations, including major business organisations. Hofstede quotes Owen J Stevens' study at INSEAD Business School - "The majority of the French tended to resolve [a conflict] by referring to the hierarchy; the British, through horizontal negotiation; and the Germans, through the establishment of procedures. Stevens identified the implicit model of a well-functioning organization for the French as a pyramid, that for the British as a (village) market, and that for the Germans are a well-oiled machine." As far as Italy is concerned, the 'family' model remains most salient. These observations led the current author to further examination of those models in the national contexts as they connected to company law. Questions of the adequacy or otherwise of those mental pictures also arose.

AGGREGATE EMPLOYMENT DYNAMICS AND (PARTIAL) LABOUR MARKET REFORMS

European labour markets have undergone several important innovations over the last three decades. Most countries have reformed their labour markets since the mid-1990s, with the liberalization of fixed-term contracts and temporary work agencies being the common elements to such reforms. This paper investigates the existence of a change in the dynamic behaviour of the aggregate employment for major European Union countries - France, Germany, Italy, and Spain. According to our results, national labour market reforms have made the response of the aggregate employment to output shocks larger and quite comparable to that found for the UK - the most flexible labour market in Europe since the Thatcher reforms.

European cancer mortality predictions for the year 2011

BackgroundMortality figures become available after some years. Materials and methodsUsing the World Health Organization mortality and population data, we estimated numbers of deaths in 2011 from all cancers and selected sites for the European Union (EU) and six major countries, by fitting a joinpoint model to 5-year age-specific numbers of deaths. Age-standardized rates were computed using EUROSTAT population estimates. ResultsThe predicted number of cancer deaths in the EU in 2011 was 1 281 436, with standardized rates of 143/100 000 men and 85/100 000 women. Poland had the highest rates, with smaller falls over recent periods. Declines in mortality for major sites including stomach, colorectum, breast, uterus, prostate and leukemias, plus male lung cancer, will continue until 2011, and a trend reversal or a leveling off is predicted where upward trends were previously observed. Female lung cancer rates are increasing in all major EU countries except the UK, where it is the first cause of cancer death, as now in Poland. The increasing pancreatic cancer trends in women observed up to 2004 have likely leveled off. ConclusionsDespite falls in rates, absolute numbers of cancer deaths are stable in Europe. The gap between Western and former nonmarket economy countries will likely persist.

Corporate Social Responsibility and Large Shareholders: An Analysis of European Firms

We analyze the influence of firm ownership structure on corporate social responsibility (CSR) as measured by the Dow Jones Sustainability STOXX Index and the Ethibel Excellence Index. Using data from 1,248 firms from five major European Union countries (United Kingdom, Germany, France, Italy, and Spain) for 2000-2004, we find that the power of the largest shareholder is negatively related to CSR. That is, as the proportion of shares owned by the largest shareholder increases, his or her incentives to engage in CSR decreases. Similarly, we find that a higher contest to the power of the main shareholder by other reference shareholders improves the firm's commitment to socially responsibility actions. Additional results suggest that, conditional on the availability of profitable growth opportunities, family shareholders are more prone to CSR than other types of investors, and, conversely, the percentage of ownership in the hands of institutional investors is negatively related to CSR.

Trends in lung cancer among young European women: The rising epidemic in France and Spain

Lung cancer mortality in young women in the European Union (EU) has steadily increased until the mid 1990 s and has levelled off thereafter, but trends have been heterogeneous in various countries. We analyzed therefore age-standardized trends in lung cancer mortality in young women (20-44) for the 6 major European countries, using joinpoint regression. In the early 1970s the highest lung cancer mortality in young women was in the UK (2.1/100,000). UK rates, however, steadily declined and in 2000-2004 they were the lowest of all 6 major EU countries (1.2/100,000). The second lowest rate in 2000-2002 was in Italy, whose rates remained around 1.1/100,000 between 1970 and 1994, and increased to 1.4 thereafter. In Germany and Poland, lung cancer rates in young women rose from 0.8-1.0/100,000 in the early 1970s to 1.7-1.9 in the mid 1990 s and levelled off during the last decade. Major rises over recent years were observed in France (from 0.8/100,000 in 1985-1989 to 2.2 in 2000-2003) and in Spain (from 0.8 in the 1985-1989 to 1.7 in 2000-2004). Thus, France showed both the highest rate observed over the last 3 decades and the largest rise over the last 2 decades. Since recent trends in the young give relevant information to the likely future trends in middle age, the female lung cancer epidemic is likely to expand in southern Europe from the current rates of 5.0/100,000 in Spain and 7.7 in France to approach 20/100,000 within the next 2-3 decades. Urgent interventions for smoking cessation in women are therefore required.

Dynamics of Growth and Profitability in Banking

Dynamic panel and cross-sectional regressions are used to estimate growth and profit equations for a sample of commercial, savings, and co-operative banks from five major European Union countries during the mid-1990s. Methodologically, the paper unifies the growth and profit strands in the previous empirical literature. The growth regressions reveal little or no evidence of mean-reversion in bank sizes. Profit is an important prerequisite for future growth. Banks that maintain a high capital-assets ratio tend to grow slowly, and growth is linked to macroeconomic conditions. Otherwise, there are few systematic influences on bank growth. The persistence of profit appears higher for savings and co-operative banks than for commercial banks. Banks that maintain high capital-assets or liquidity ratios tend to record relatively low profitability. There is some evidence of a positive association between concentration and profitability, but little evidence of a link between bank-level x-inefficiency and profitability.

Some new evidence on exchange rates, capital controls and European Union financial integration

We tested for financial integration among the major European Union countries using a new test, developed by Im, Pesaran, and Shin (1997), that allowed us to confirm or reject covered interest rate parity depending on whether a panel data set comprising covered interest differentials is stationary or not. Employing a panel data unit root test offers substantial advantages over the univariate Augmented Dickey Fuller tests that might accept the null of nonstationarity on account of low test power. Despite the turbulence in the exchange rate mechanism during the early 1990s, we find evidence of onshore covered interest parity and therefore of financial interdependence of domestic interest rates.

The Velocity of Circulation: Some new evidence on international integration

This study tests for the integration of money velocity movements among the major European Union countries. For this purpose, a new test is employed that allows one to confirm or reject integration on the basis of whether or not the first largest principal component, based on deviations of velocity growth rates from a base country, is stationary. Using monthly data covering the last 25 years, this study finds that integration was strongest during the 1970s and during 1983-92. These findings modify the institutionalist view that common financial developments have meant that velocities have moved together on an upward secular trend over the last 40 years. Developments with regard to currency substitution along with exchange rate policy and capital controls can affect relative interest rates and income movements and therefore the co-movements in money velocities.

Trade balances and exchange rates in the long run for European Union countries

This paper has found evidence that real effective exchange rates have a positive impact on the trade balance in the long run for major European Union countries. This result sheds more light on the long-run statistical relationship between those two variables, at least in the context of the Community. The existence of that link is sustained by the effects that income variables have on the trade balance. The outcomes of this analysis in support of a long-run equilibrium relationship are consistent with the imperfect substitutes model, confirming the validity of this model for economic policy implementation purposes. Low, long-run elasticities of the trade balance with respect to the real effective exchange rate indicate that a substantial change in relative prices should be made to considerably improve trade accounts. This fact may be related to the prevailing tendencies of intraindustry trade among industrialized countries. Therefore, variables other than price should be stressed. Costs of relinquishing individual exchange rates in the monetary union may be, generally, rather moderate given the estimates of the price elasticities obtained. In any case, adjustment to external shocks will always be a real adjustment since one of the Maastricht commitments for European Union countries to reach monetary union in 1999 is the stability of exchange rates, abandoning them as instruments of economic policy. (JEL F10)