FRANCESCO GIAVAZZI

En este provocador libro, los economistas Alberto Alesina y Francesco Giavazzi señalan que, si Europa no toma pronto medidas, es casi inevitable que se intensifique su declive económico y político. Si no se emprende una reforma global, las sobreprotegidas y superreguladas economias de Europa occidental continental continuaran perdiendo velocidad y su influencia politica acabara siendo casi inapreciable. Eso no significa que Alemania, Francia, España y otros paises que hoy son prosperos vayan a empobrecerse; su nivel de vida continuara siendo holgado. Pero acabaran siendo casi irrelevantes en el panorama mundial. En El futuro de Europa, Alesina y Giavazzi (que son europeos) esbozan las medidas que debe tomar Europa para impedir su eclipse economico y politico.Segun los autores, Europa tiene mucho que aprender de Estados Unidos. Los europeos trabajan menos y tienen mas vacaciones que los estadounidenses; valoran sobre todo la seguridad y la estabilidad del empleo. Alesina y Giavazzi sostienen que los estadounidenses trabajan mas y un numero mayor de horas y estan mas dispuestos a soportar los altibajos de una economia de mercado. Los europeos valoran su Estado de bienestar; los estadounidenses aborrecen el gasto publico. Estados Unidos es un crisol de culturas; los paises europeos tienen dificultades para absorber la poblacion inmigrante. Alesina y Giavazzi advierten de que para que Europa ponga freno a su declive, tiene que adoptar un modelo parecido al de libre mercado de Estados Unidos.Las recomendaciones de Alesina y Giavazzi sobre la forma en que Europa debe afrontar las cuestiones relacionadas con la productividad de los trabajadores, la regulacion del mercado de trabajo, la globalizacion, la financiacion de la enseñanza superior y de la investigacion tecnologica, la politica fiscal y sus sociedades multietnicas suscitaran sin duda controversias, al igual que su vision de la Union Europea y del euro. Pero su llamada de atencion sonara alta y clara para todo aquel al que le preocupe el futuro de Europa.

Macroeconomics: A European Perspective will give students a fuller understanding of the subject and has been fully updated to provide broad coverage of the financial crisis. In particular, this new edition provides: *NEW chapters and updated text across all chapters *NEW data on Europe and the financial crisis * And what has always been the strength of the book: A unified view of macroeconomics, enabling students to make the connections between the short, medium, and long run. "This is a truly outstanding textbook that beautifully marries theory, empirics and policy. It is surely destined to become the gold standard against which all other texts must be measured." Charles Bean, Deputy Governor, Bank of England "Refreshingly original for an undergraduate text. Relevant applications to European economies and elsewhere are plentiful, and the breadth of topics covered is truly impressive. Unlike many texts at this level, the authors do not avoid potentially tricky, yet important topics; they do their utmost to relate textbook theory to real-world economics. Relative to competing texts, I think students would find this more engaging." Paul Scanlon, Trinity College Dublin "Up-to-date material on the Euro, especially in light of the current crisis; strong open economy emphasis; and lots of examples from European countries. There is so much new material on the monetary union that there is much less need for supplementary reading." Pekka Ilmakunnas, Aalto University School of Economics

A provocative argument that unless Europe takes serious action soon, its economic and political decline is unavoidable, and a clear statement of the steps Europe must take before its too late.Unless Europe takes action soon, its further economic and political decline is almost inevitable, economists Alberto Alesina and Francesco Giavazzi write in this provocative book. Without comprehensive reform, continental Western Europes overprotected, overregulated economies will continue to slowand its political influence will become negligible. This doesnt mean that Italy, Germany, France, and other now-prosperous countries will become poor; their standard of living will remain comfortable. But they will become largely irrelevant on the world scene. In The Future of Europe, Alesina and Giavazzi (themselves Europeans) outline the steps that Europe must take to prevent its economic and political eclipse.Europe, the authors say, has much to learn from the market liberalism of America. Europeans work less and vacation more than Americans; they value job stability and security above all. Americans, Alesina and Giavazzi argue, work harder and longer and are more willing to endure the ups and downs of a market economy. Europeans prize their welfare states; Americans abhor government spending. America is a melting pot; European countrieswitness the November 2005 unrest in Francehave trouble absorbing their immigrant populations. If Europe is to arrest its decline, Alesina and Giavazzi warn, it needs to adopt something closer to the American free-market model for dealing with these issues.Alesina and Giavazzis prescriptions for how Europe should handle worker productivity, labor market regulation, globalization, support for higher education and technology research, fiscal policy, and its multiethnic societies are sure to stir controversy, as will their eye-opening view of the European Union and the euro. But their wake-up call will ring loud and clear for anyone concerned about the future of Europe and the global economy.