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"Despite the efforts of policy makers to tackle recessions as they happen, there is ample evidence that major economic downturns produce lasting negative effects on real GDP, pointing to the existence of "economic scarring". This paper takes a fresh look at economic scarring in 26 OECD countries, including 14 EU member states, since 1970 and examines the role played by fiscal policy in limiting these impacts. It finds that higher current expenditure does not mitigate the lasting impact of major economic downturns on real GDP. By contrast, more government investment could help to do so, but this is generally less favoured as a policy response. As a result, scarring effects are significant, confronting governments with higher debt levels, which in turn weigh on the room for manoeuvre in subsequent downturns. In sum, fiscal policy makers face two difficulties in the event of a major economic downturn: adopting the right type of fiscal expansion, and finding the right time to pivot from short-term stabilisation to fiscal consolidation, while protecting investment".

Economics. --- Great courses (Compact disc).

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"Financial integration, broadly defined as the intensity of cross-border linkages between financial markets, has the potential to channel capital to where it is most productive, bringing many benefits. However, some financial integration is cyclical, increasing economic upswings and declining during down-turns. Of more long-term benefit is financial integration driven by structural factors such as the reductions in exchange rate risk and the increased regulatory or supervisory convergence associated with the establishment of a currency union, such as Europe's Economic and Monetary Union. This paper presents a new indicator of de facto financial integration in the European Union. Analysing this indicator alongside different financial and macroeconomic variables makes it possible to separate the impact of cyclical boom-bust shocks from the influence structural factors. It shows that increasing structural financial integration tends to improve risk absorption and reduce income disparities among European countries. However, it also suggests that most of the movements in the indicator reflect business cycle dynamics, rather than structural integration. These results highlight the need to develop further policies to foster structural financial integration in the EU".

Economics. --- Great courses (Compact disc).

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La fin des années 90 est marquée par l’amplification du discours sur la « crise » du disque classique. Le développement de nouveaux supports et les répercussions hypothétiques d’Internet sur la fonction d’éditeur entretiennent ce débat passionnel. Alors que le microsillon a fait tourner l’industrie du disque pendant trente ans, l’heure du bilan post-mortem aurait donc déjà sonné pour le C.D. En reprenant et en prolongeant les analyses traditionnelles sur les industries culturelles, l’auteur étudie le secteur musical classique à partir de sa principale originalité : l’activité de l’ensemble des acteurs se concentre sur la valorisation d’un répertoire largement fermé à la création contemporaine et centré sur un nombre réduit d’œuvres du grand répertoire. Au sein d’un catalogue proposant 50 versions des Symphonies de Beethoven et 200 des Quatre Saisons de Vivaldi, comment artistes et éditeurs peuvent-ils sortir d’une situation concurrentielle exacerbée que l’exploitation extensive des stocks opérée depuis 15 ans rend aujourd’hui particulièrement critique ? Cette question permet de mettre en évidence les mécanismes d’interpénétration de plus en plus poussée entre l’économie du concert et la musique enregistrée et le rôle central de l’interprète dans le renouvellement stylistique. La mise en relation des logiques éditoriales, des contraintes techniques et des choix artistiques montre que le discours et les stratégies de marketing n’interviennent pas uniquement en aval de la production mais relient l’ensemble des acteurs pendant toute la phase de production.

Communication --- industrie --- musique --- interprète --- disque --- Compact disc industry --- Disques compacts --- Disques --- Enregistrements sonores --- Musique --- Industrie et commerce --- France

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CD-ROMs --- Cédéroms --- Handbooks, manuals, etc --- Guides, manuels, etc --- Compact discs --- -CD-ROMs --- -681.37 --- CD-ROM --- CDROMs --- Compact disc read-only memory --- Compact disk read-only memory --- Optical disks --- CDs (Compact discs) --- Compact disks --- Digital compact discs --- Discs, Compact --- Disks, Compact --- Sound recordings --- Informatiesystemen --- Cédéroms

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Library automation --- Computer architecture. Operating systems --- CD-ROM --- Local area networks (Computer networks) --- Locale netwerken (Computernetwerken) --- Réseaux locaux (Réseaux d'ordinateurs) --- CD-ROMs --- Réseaux locaux (Informatique) --- Cédéroms --- -Local area networks (Computer networks) --- LANs (Computer networks) --- Local area computer networks --- Computer networks --- Electronic data processing --- CDROMs --- Compact disc read-only memory --- Compact disk read-only memory --- Compact discs --- Optical disks --- Distributed processing --- Computer networks. --- Local area networks (Computer networks). --- Réseaux locaux (Informatique) --- Cédéroms