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The Consequences of the Recent Economic Crisis and Government Reactions for Children

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  • Bruno Martorano

Abstract

The aim of this paper is to analyse the impact of the different policy reactions of European governments to the recent economic crisis on income distribution and poverty, giving special attention to children. Almost all the governments introduced fiscal stimulus packages in the first phase of the crisis. Nonetheless, the persistence of bad economic conditions led to a drop in the countries’ revenues with a deterioration of their fiscal conditions. In addition, the pressure coming from the financial markets and the resurgence of an orthodox policy approach pushed many governments to introduce austerity measures since 2010. In particular, there was a growing consensus about the necessity of fiscal consolidation despite awareness of the possible negative impact on economic performance and social outcomes. Some governments preferred to increase taxes while others preferred to reduce public expenditure, also cutting benefits and services for children and their families.

Suggested Citation

  • Bruno Martorano, 2014. "The Consequences of the Recent Economic Crisis and Government Reactions for Children," Papers inwopa722, Innocenti Working Papers.
  • Handle: RePEc:ucf:inwopa:inwopa722
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    References listed on IDEAS

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    1. Cornia, Giovanni Andrea & Jolly, Richard & Stewart, Frances (ed.), 1987. "Adjustment with a Human Face: Volume 1, Protecting the Vulnerable and Promoting Growth," OUP Catalogue, Oxford University Press, number 9780198286097.
    2. Azevedo, Joao Pedro & Inchauste, Gabriela & Sanfelice, Viviane, 2013. "Decomposing the recent inequality decline in Latin America," Policy Research Working Paper Series 6715, The World Bank.
    3. Jonathan Bradshaw & Yekaterina Chzhen & Gill Main & Bruno Martorano & Leonardo Menchini & Chris De Neubourg, 2012. "Relative Income Poverty among Children in Rich Countries," Papers inwopa655, Innocenti Working Papers.
    4. Aizenman, Joshua & Hutchison, Michael & Jinjarak, Yothin, 2013. "What is the risk of European sovereign debt defaults? Fiscal space, CDS spreads and market pricing of risk," Journal of International Money and Finance, Elsevier, vol. 34(C), pages 37-59.
    5. Luisa Natali & Bruno Martorano & Sudhanshu Handa & Goran Holmqvist & Yekaterina Chzhen, 2014. "Trends in Child Well-being in EU Countries during the Great Recession: A cross-country comparative perspective," Papers inwopa730, Innocenti Working Papers.
    6. Bruno Martorano, & Giovanni Andrea Cornia & Frances Stewart, 2012. "Human Development and Fiscal Policy: Comparing the Crises of 1982-85 and 2008-11," Working Papers - Economics wp2012_23.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
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    Cited by:

    1. Yekaterina Chzhen, 2016. "Perceptions of the Economic Crisis in Europe: Do Adults in Households with Children Feel a Greater Impact?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 127(1), pages 341-360, May.
    2. Luisa Natali & Bruno Martorano & Sudhanshu Handa & Goran Holmqvist & Yekaterina Chzhen, 2014. "Trends in Child Well-being in EU Countries during the Great Recession: A cross-country comparative perspective," Papers inwopa730, Innocenti Working Papers.
    3. E. Bárcena-Martín & A. I. Moro-Egido & S. Pérez-Moreno, 2016. "How Income Growth Differs with Children in Spain: a Comparative European Perspective," Child Indicators Research, Springer;The International Society of Child Indicators (ISCI), vol. 9(2), pages 357-370, June.
    4. Bruno Martorano, 2014. "Is it possible to adjust ‘with a human face’? Differences in fiscal consolidation strategies between Hungary and Iceland," Papers inwopa719, Innocenti Working Papers.

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    More about this item

    Keywords

    crisis; europe; income; inequality; poverty;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty

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