Documents Figueiredo, António 2 results

"The Portuguese version of the European Social Model has been impacted by the Great Recession and austerity policies. In this paper we argue that the Portuguese experience shows similar effects to other European Union countries (under economic adjustment or simply touched by the consequences of the Great Recession on public finances) but also shows distinctive consequences. The paper collects evidence on reforms targeted at increasing the costeffectiveness of some pillars of the Portuguese Social Model, which were already in place before 2008, but have since been undermined by austerity measures lacking strategic coherence. The paper focuses on the historical context of the ESM in Portugal to discuss the impact of austerity in the country. We also discuss the noticeable impact of austerity on the Portuguese middle class.The Portuguese version of the European Social Model has been impacted by the Great Recession and austerity policies. In this paper we argue that the Portuguese experience shows similar effects to other European Union countries (under economic adjustment or simply touched by the consequences of the Great Recession on public finances) but also shows distinctive consequences. The paper collects evidence on reforms targeted at increasing the costeffectiveness of some pillars of the Portuguese Social Model, which were already in place before 2008, but have since been undermined by austerity measures lacking strategic coherence. The paper focuses on the historical context of the ESM in Portugal to discuss the impact of austerity in the country. We also discuss the noticeable impact of austerity on the Portuguese middle class."

"The relative backwardness of the Portuguese economy represents a useful basis to revisit the role of the middle classes in processes of change. Using a predominantly economic representation for the middle classes, our analysis shows that, in recent times, Portuguese middle-income individuals have featured substantial resilience in terms of their capacity to access an increasing share of national income (only slightly interrupted by a more stable trend since the crisis). This appears to contradict the widespread view that the current crisis is undermining the middle classes more than other groups. However, we also show that relative changes are only part of the story of a country that, 30 years after joining the EU, remains in a low-income trajectory and that, as one of the outcomes of the recent crisis, is further impoverishing."