This book examines the crisis of EMU through the lenses of comparative political economy. It retraces the development of wage-setting systems in the core and peripheral EMU member states, and how these contributed to the increasing divergence between creditor and debtor states in the late 2000s. Starting with the construction of the Deutschmark bloc, through the Maastricht process of the 1990s, and into the first decade of EMU, this book analyzes how labour unions and wage determination systems adjusted in response to monetary integration and, in turn, influenced the shape that monetary union would eventually take. Before the introduction of the Euro, labour unions were disciplined by central banks and governments, after social conflict in the north of the continent and with the use of social pacts in the others. Since controlling inflation had become the main goal of macro-economic policy, national central banks acted as a backstop to keep militant unions and profligate governments under control. Public sector wages thus were subordinated to manufacturing wages, a set-up policed by export sector unions, aided by the central bank. With the introduction of the single currency, the European Central Bank replaced the national central banks and, as a result, their capacity to control labour unions disappeared. The strong links between wages in the public sector unions and wages in the manufacturing export sector weakened dramatically in many countries, wage inflation re-emerged, and the stage was set for the current account divergences at the basis of the crisis of EMU.

This book offers advice to doctoral researchers and graduate and advanced undergraduate students on how to embark on their research. Based on a decade of teaching early-stage researchers in the social sciences at the LSE and other universities, and written with the central problems of beginning researchers in mind, Bob Hancke guides them through the process of thinking about the links between theory, cases and data, and to do so in a way that helps to turn their initial plausible ideas into convincing arguments. This lively book, deliberately jargon-free and with a hands-on, pragmatic approach to research design, addresses the problems that research students face - or ignore, often at their peril - in the course of their first few years. Its central message is that research is a complex and iterative process in which researchers construct every relevant part of their project with one goal in mind: make a persuasive point. They define the question they ask and the debate they engage, construct their cases and data to answer that question, and write it up as an argument that brings out the strengths of their research design. It addresses such key issues as statistical versus configurational approaches, time in social science research, different types of case studies and comparative research, and a critical approach to data. The Appendix gives tips on presenting and discussing papers, and on crafting research proposals.

Peter Hall and David Soskice's Varieties of Capitalism has become a seminal text and reference point across the social sciences, generating debate and research around political-economic models. Here, Bob Hancke presents the key readings on 'Varieties of Capitalism', including the original Hall and Soskice introduction, which encompass the key issues in the study of capitalism and capitalist diversity, its origins, and the debates that followed it. Beginning with the broad theoretical arguments around the idea of 'Varieties of Capitalism', the book then goes on to focus on specific empirical controversies, before finally considering recent attempts at rethinking this influential framework.
The Debating Varieties of Capitalism Reader is the perfect guide to understanding this set of ideas that have changed the way we look at comparative political economy."

Since the early 1990s, Europe's economies have been facing several new challenges: the single market programme, the collapse of the Berlin wall and eastward enlargement, and monetary unification. Building on the influential Varieties of Capitalism (VoC) perspective, first elaboarted in detail in the book Varieties of Capitalism (OUP, 2001), this book critically analyzes these developments in the European political economy and their effects on the continental European economies.
Leading political economists from Europe and the US debate how VoC can help understand the political-economic challenges that Europe is facing today and how understanding these new challenges can in turn enrich and enhance the VoC perspective.
Thematically, the contributions to this volume are organized in four sections:
* how the macro-economics of EMU have influenced different European models of capitalism,
* how the Single Market programme was received in the different institutional regimes in European capitalism,
* how welfare and labor market reforms are debated and implemented,
* how European capitalism travelled east after 1989.
Preceding this is a spirited defence of the VoC approach by Peter Hall, and an introduction from the volume editors, considering the approach, and proposing extensions and amendments. This book demonstrates that the VoC approach remains, as the editors put it in their introduction, a rich seam to mine, capable of accommodating new developments, and theoretically flexible enough to produce new and innovative hypotheses and arguments.

Since the early 1990s, Europe's economies have been facing several new challenges: the 1992 single market programme, the collapse of the Berlin wall and eastward enlargement, and monetary unification. Building on the influential Varieties of Capitalism (VoC) perspective, first elaboarted in detail in the book Varieties of Capitalism OUP, 2001), this book critically analyzes these developments in the European political economy and their effects on the continental European economies.
Leading political economists from Europe and the US debate how VoC can help understand the political-economic challenges that Europe is facing today and how understanding these new challenges can in turn enrich and enhance the VoC perspective. Thematically, the contributions to this volume are organised in four sections:
* how the macro-economics of EMU influenced different European models of capitalism,
* how the Single Market programme was received in the different institutional regimes in European capitalism,
* how welfare and labour market reforms are debated and implemented,
* how European capitalism travelled east after 1989.
Preceding this is a spirited defence of the VoC approach by Peter Hall, and an introduction from the volume editors, considering the approach, and proposing extensions and amendments. This book demonstrates that the VoC approach remains, as the editors put it in their introduction, a rich seam to mine, capable of accommodating new developments, and theoretically flexible enough to branch out into new arguments.

This book analyses the revival of the French economy at the end of the twentieth century and shows how large firms took the lead in that process becoming the drivers of economic adjustment. Hancké provides the reader with a critique of neo-institutionalist perspectives on firms. By demonstrating how large firms in France changed their institutional environment to fit their own needs, he offers an important new perspective on the political economy of industrial and economic change.

Peter Hall and David Soskice's Varieties of Capitalism has become a seminal text and reference point across the social sciences, generating debate and research around political-economic models. Here, Bob Hancke presents the key readings on "Varieties of Capitalism," including the original Hall and Soskice introduction, which encompass the key issues in the study of capitalism and capitalist diversity, its origins, and the debates that followed it. Beginning with the broad theoretical arguments around the idea of "Varieties of Capitalism," the book then goes on to focus on specific empirical controversies, before finally considering recent attempts at rethinking this influential framework.
The Debating Varieties of Capitalism Reader is the perfect guide to understanding this set of ideas that have changed the way we look at comparative political economy."

This book offers advice to doctoral researchers and graduate and advanced undergraduate students on how to embark on their research. Based on a decade of teaching early-stage researchers in the social sciences at the LSE and other universities, and written with the central problems of beginning researchers in mind, Bob Hancke guides them through the process of thinking about the links between theory, cases and data, and to do so in a way that helps to turn their initial plausible ideas into convincing arguments. This lively book, deliberately jargon-free and with a hands-on, pragmatic approach to research design, addresses the problems that research students face - or ignore, often at their peril - in the course of their first few years. Its central message is that research is a complex and iterative process in which researchers construct every relevant part of their project with one goal in mind: make a persuasive point. They define the question they ask and the debate they engage, construct their cases and data to answer that question, and write it up as an argument that brings out the strengths of their research design. It addresses such key issues as statistical versus configurational approaches, time in social science research, different types of case studies and comparative research, and a critical approach to data. The Appendix gives tips on presenting and discussing papers, and on crafting research proposals.