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Traditional patterns of juvenile delinquency may be changing as a consequence of the transformation from youth to adulthood. Thus, from the approach of the economic analysis of crime, this study aims to investigate how age could influence the crime rate in Spain after the financial crisis of 2008. To that end, and based on official quantitative data, this research applies a fixed-effects panel data model and studies a series of socioeconomic and demographic variables that, according to academic literature, impact on crime. The results are consistent with pre-existing studies in other countries: the youngest are more likely to commit crimes. In this way, it is concluded that in Spain the patterns of juvenile delinquency related to age seem not to be changing at the moment. Furthermore, with the exception of youth unemployment, the worsening of economic conditions after the crisis has not influenced crime, so the age structure better explains crime in Spain than the state of the economy., Los patrones tradicionales de la delincuencia juvenil pueden estar cambiando como consecuencia de la transformación del paso de la juventud a la edad adulta. Por esta razón, a partir del enfoque del análisis económico del delito, este estudio tiene como objetivo investigar qué papel jugó la edad en las tasas de criminalidad en España tras la crisis económica de 2008. Para ello, a partir de los datos cuantitativos oficiales, se establece un modelo econométrico de panel de datos con efectos fijos y se controla una serie de variables tanto socioeconómicas como demográficas que, según la literatura académica, inciden sobre la delincuencia. Los resultados son coincidentes con los estudios preexistentes para otros países: Los más jóvenes tienen una mayor probabilidad de cometer delitos. De este modo, se concluye que en España los patrones de delincuencia juvenil referentes a la edad parecen no estar cambiando por el momento. Además, salvo el desempleo juvenil, el empeoramiento de las condiciones económicas tras la crisis no ha influido en el crimen por lo que la estructura de edad explica mejor la delincuencia en España que el estado de la economía.

This paper deals with the case of Portugal from 2003 to 2017 and investigates the effect of a negative impact of its unemployment rate on the creation of new homes, together with the time that their creation is affected by the worsening of general economic conditions. To this end, this study uses a vector autoregressive model (VAR) in which many endogenous and exogenous variables have been included that, according to the literature reviewed, will have a direct impact on creating new homes. The results show that the unemployment rate is the variable which more effectively explains the creation of new households, strengthening the relationship between the economic situation and other social variables, such as personal emancipation. In addition, the impact of such a perpetual shock on the unemployment rate continues to influence the building of new homes throughout the two following years, when the situation returns to its initial levels., Este artigo toma o caso de Portugal durante o período 2003-2017 para investigar o efecto dun shock negativo na taxa de desemprego sobre a formación de novos fogares e o tempo durante o que esta se ve afectada polo empeoramento das condicións económicas xerais. Para iso, estimouse un Modelo de Vectores Autorregresivos no que se incorporan diversas variables endóxenas e exóxenas que, segundo a literatura, inciden sobre a formación de fogares. Os resultados demostran que a taxa de desemprego é a variable que en maior medida explica a creación de novos fogares, reforzando a relación entre a situación económica e outras variables de natureza social, como a emancipación persoal. Ademais, o impacto dun shock permanente na taxa de desemprego prolóngase durante os dous anos seguintes sobre a formación de novos fogares, momento no que esta volve aos seus niveis iniciais.

The recent problems generated by the economic and financial crisis have led to some debate on the role of economic policies. The question is to which extent a specific monetary policy regime would impose a restriction to policymakers. In particular, the cost of losing independence in the use of the exchange rate and monetary policy, and the restrictions derived from the fiscal discipline required for supporting monetary agreements. As an example we can think on the expected success of the European Economic and Monetary Union (EMU), related to the benefits of the single currency, the higher degree of integration of financial markets, and also to the sound public finances guaranteed by the set of fiscal rules provided by EMU. When signing the Stability and Growth Pact (SGP), Member States committed themselves to reach a medium-term budgetary position close to balance. The Maastricht Treaty stresses as basic that the Member States of the EMU should avoid excessive deficits, and the reference values for deficit-to-GDP and debt-to GDP ratios have worked in fact as an explicit fiscal rule. But, in practice, the policy orientation of the SGP has not been fully satisfied. This has opened a debate about the utility and effectiveness of fiscal rules in EMU, and on their complementarities with discretionary fiscal policy measures and automatic stabilisers to deal with short-run fluctuations. The aim of this paper is to investigate how to deal with monetary (financial) shocks in a monetary union following fiscal rules. In particular, we will analyse the interaction among those members showing a relatively high level of public debt and those that seem to follow a more strict fiscal discipline.