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Heavily reliant on the work of Charles P Kindleberger, theories of hegemony and power transition have been built on the largely unchallenged assumption that the United States acts as a global economic stabilizer in time of crisis. However, there has been no attempt systematically to delineate, operationalize and test whether the United States performs this role utilizing Kindleberger's five functions. Proponents of these theories have, in contrast, characterized China as either a free-rider or a predator waiting to challenge American leadership in times of crisis. In evaluating these characterizations, we test two hypotheses that examine the extent to which the United States and China have performed these stabilizing functions with regard to three major economic crises (the 1997 Asian economic crisis, the 2001 "DotCom" crisis and the Great Recession of 2007–2009). Our findings suggest that Kindleberger's functions are more evenly shared than conventional scholarship would predict and that China has played a supportive, stabilizing role. Without evidence of explicit collaboration between the two countries, these functions were shared. Furthermore, China played an increasingly important role in supporting the global economic system over time and the trend line suggests they will continue to do so in the future. If Kindleberger's criteria are correct, the assumption of a single country, the United States, acting as a stabilizer is therefore empirically mistaken. If his criteria are flawed, major IR theories that have assumed the criteria to be true and/or have assumed that the United States plays this unique role in the global economy are in need of critical reassessment.

Background: This study aimed to compare the effect of traditional and stability-oriented strength exercises on trunk stability and deep stabilization system (DSS) activation in elite futsal players. Methods: Twenty elite futsal players (21–34 years, 180 ± 13 cm, 79 ± 15 kg) were randomly divided into a group that performed stability-oriented exercises and a group that performed traditional strength exercises. Both interventions lasted for 10 weeks and included 25 strength training sessions. Main outcome measures: The DSS pretest and posttest included the diaphragm test, trunk flexion test, back extension test, hip flexion test, intraabdominal pressure test, and a side plank test on a 1–5 point scale. Results: Both groups had similar initial test results, where the stability-oriented exercise group had significantly improved intraabdominal pressure test (p = 0.004, by lower quartile rate), trunk flexion (p = 0.036, by 0.5 grade in median), and side plank (p = 0.002, by 1 grade in median) in posttest results. Traditional exercise did not change the results of any of the included DSS function tests. Conclusions: Stabilization-oriented exercises effectively activate the functions of the DSS and should be prioritized over traditional strength exercises in injury prevention training programs. The use of stabilization-oriented exercises might prevent injury and overloading in elite futsal players.

While the EU recovery plan provides a useful step in alleviating the economic effects of the coronavirus crisis and achieving further European integration, a permanent fiscal stabilization capacity dealing with major crises is still missing. Such a EU-wide stabilization function would be in accordance with the subsidiarity principle, enshrined in the Treaty of Maastricht, as the risk-sharing that it provides can only be conducted at the supranational level. We envisage a mechanism to semi-automatically respond to region- and country-specific shocks via a central fiscal stabilization fund (CFSF). A simple model incorporating hysteresis, cross-border externalities and moral hazard, is deployed to illustrate the optimal responses of the CFSF to these shocks. A well-designed CFSF has the potential to improving welfare not only in crisis-hit member countries, but also in the union as a whole.

El objetivo del documento es analizar el impacto de la descentralización fiscal en la función de estabilización. Aunque tradicionalmente la función de estabilización se ha atribuido al gobierno central, las autoridades regionales y locales desempeñan un papel en esta función en un contexto descentralizado. El análisis se centra en el papel que los gobiernos sub-nacionales desempeñan para contrarrestar la política cíclica y en la relación entre descentralización y la posición fiscal de los gobiernos nacionales y subnacionales. En particular, la estabilización y redistribución que las regiones obtienen mediante la política tributaria nacional y el sistema de transferencias intergubernamentales se estima para Colombia, donde los déficit aumentaron sustancialmente, tanto a nivel nacional como local después de que el proceso de descentralización se fortaleció en 1991. ; This paper analyses the impact of fiscal decentralization on the stabilization function. Although traditionally the stabilization function has been attributed to central government, regional and local authorities have a role to play in decentralized contexts. The analysis concentrates on the role that sub-national governments play in counteracting cyclical policy and on the relationship between decentralization and the fiscal position of national and sub-national governments. In particular, the stabilization and redistribution obtained by regions as a result of national tax policy and through the intergovernmental transfers system is estimated for Colombia, where deficits increased substantially both at national and local levels after the decentralization process was strengthened in 1991. ; O objetivo deste documento é analisar o impacto da descentralização fiscal na função de estabilização. Embora tradicionalmente a função de estabilização tenha sido atribuída ao governo central, as autoridades regionais e locais desempenham um papel nessa função num contexto descentralizado. A análise se enfoca no papel que os governos subnacionais desempenham para neutralizar a política cíclica e na relação entre descentralização e posição fiscal dos governos nacionais e subnacionais. Em particular, a estabilização e a redistribuição que as regiões obtêm mediante a política tributária nacional e o sistema de transferências intergovernamentais que se estima para a Colômbia, onde os déficits aumentaram substancialmente, tanto no âmbito nacional quanto no local, depois do fortalecimento do processo de descentralização em 1991.

In the course of this discussion I do not feel it incumbent upon me to argue the case of wage stabilization. It is one of the facts of our war-time economy and whether we agree with its basic philosophy or not we must live with it. As I see it, the chief function of this discussion is to highlight the wage stabilization program so that your task as practicing attorneys who are frequently faced with wage stabilization problems will be made easier. In the measure which I can accomplish that result our task on the Twelfth Regional Board is also simplified. The public which understands the governmental regulations with which it must live will have fewer problems. It will therefore be my purpose to make this discussion as purely expository as possible in an effort to meet the daily problems which face the practicing attorney. Because of the limitations of time, it will be impossible for me to touch upon many of the phases of the War Labor Board's activities. Union maintenance of membership clauses, jurisdictional disputes in inter-state and intra-state commerce, the relationship between the War Labor Board and the National Labor Relations Board and many other related problems are matters in which the public has always expressed a great interest. The ratio between voluntary wage stabilization cases and dispute cases is thirty to one in favor of voluntary cases. Because of this fact; namely, that the average practitioner may never see a labor dispute case but will in all probability be called upon to participate in some phase of voluntary adjustments, this discussion will be confined to problems pertaining to the latter. One of four papers delivered at the Legal Institute of the Seattle Bar Association held at the University of Washington Law School on April 7, 1944.

This book is the first comprehensive, full-scale treatment of the law, politics and economics with regard to the policies and policy instruments for budget stabilization at the state level. Covering the period from 1946 through 2008 in the United States, it provides details on the methods and results of empirical tests of the effects of budget stabilization instruments on government operations, public service provision, and some other aspects of social and economic life. With the lingering effects of the most recent financial crisis and economic downturn, and the subsequent Tea Party movement advocating smaller government and deficit reduction, this book carries timely and important theoretical as well as practical implications, particularly in regard to the potential for counter-cyclical fiscal policy in mitigating negative impacts during a recession. The first contribution of the book is in public finance theory: it provides insights into the applications of the stabilization function in the context of strong government, thereby refining Keynesianism. The second aspect is in Public Choice: the creation and functioning of budget stabilization funds offer extra evidence to demonstrate that the general public provides input and voice in more than the conventional ways when it comes to policy making, even in an area dominated by strong government. The third aspect is in policy making, exploring the opportunities for refining policy tools in preparation for future downturns

Stabilization is a contestable concept of intervention in violent conflicts. Often, it is either uncritically supported or rejected. In this article, we criticize current conceptualisations and practices of stabilization and newly introduce a dynamic approach for stabilization that yields a transformative potential. By distinguishing static vs. dynamic approaches to stabilization, we address the widespread dilemma that so-called stabilization measures seem unable to avoid instability and protracted violence in the long-term. Our analysis of the three policy fields peacekeeping, train & equip programmes and migration management in Mali reveals the dominance of static elements in stabilization practice. Instead, our article proposes to see a transformative variant of stabilization measures that enhances long-term security and development. We argue that there are two dynamic approaches of stabilization that policy-makers and practitioners can apply in (post-)conflict societies: state-centred liberal peacebuilding that takes its normative core seriously, and non-state centric peacebuilding that acknowledges alternative lived orders.

This paper analyses the impact of fiscal decentralization on the stabilization function. Although traditionally the stabilization function has been attributed to central government, regional and local authorities have a role to play in decentralized contexts. The analysis concentrates on the role that sub-national governments play in counteracting cyclical policy and on the relationship between decentralization and the fiscal position of national and sub-national governments. In particular, the stabilization and redistribution obtained by regions as a result of national tax policy and through the intergovernmental transfers system is estimated for Colombia, where deficits increased substantially both at national and local levels after the decentralization process was strengthened in 1991. ; El objetivo del documento es analizar el impacto de la descentralización fiscal en la función de estabilización. Aunque tradicionalmente la función de estabilización se ha atribuido al gobierno central, las autoridades regionales y locales desempeñan un papel en esta función en un contexto descentralizado. El análisis se centra en el papel que los gobiernos sub-nacionales desempeñan para contrarrestar la política cíclica y en la relación entre descentralización y la posición fiscal de los gobiernos nacionales y subnacionales. En particular, la estabilización y redistribución que las regiones obtienen mediante la política tributaria nacional y el sistema de transferencias intergubernamentales se estima para Colombia, donde los déficit aumentaron sustancialmente, tanto a nivel nacional como local después de que el proceso de descentralización se fortaleció en 1991. ; O objetivo deste documento é analisar o impacto da descentralização fiscal na função de estabilização. Embora tradicionalmente a função de estabilização tenha sido atribuída ao governo central, as autoridades regionais e locais desempenham um papel nessa função num contexto descentralizado. A análise se enfoca no papel que os governos subnacionais desempenham para ...

Constitutionalization - the creation of a formal 'constitution' for the European Union - has been seen as a response to the eastern enlargement, on the basis of the three main functions of constitutions: the organizational function, the stabilization function and the legitimating function. However, functional arguments are not sufficient for explaining the constitutionalization of the EU as a response to this enlargement. An alternative explanation refers to the behaviour of the large member states acting in their own self-interest to shift the power relations in the EU in their favour. Using conventions as the method of bringing this about has served both to legitimize and to conceal this motivation. This factor in the evolution of the European Union carries implications for the countries that aspire to become EU members. Adapted from the source document.

This paper analyses the impact of fiscal decentralization on the stabilization function. Although traditionally the stabilization function has been attributed to central government, regional and local authorities have a role to play in decentralized contexts. The analysis concentrates on the role that sub-national governments play in counteracting cyclical policy and on the relationship between decentralization and the fiscal position of national and sub-national governments. In particular, the stabilization and redistribution obtained by regions as a result of national tax policy and through the intergovernmental transfers system is estimated for Colombia, where deficits increased substantially both at national and local levels after the decentralization process was strengthened in 1991. ; El objetivo del documento es analizar el impacto de la descentralización fiscal en la función de estabilización. Aunque tradicionalmente la función de estabilización se ha atribuido al gobierno central, las autoridades regionales y locales desempeñan un papel en esta función en un contexto descentralizado. El análisis se centra en el papel que los gobiernos sub-nacionales desempeñan para contrarrestar la política cíclica y en la relación entre descentralización y la posición fiscal de los gobiernos nacionales y subnacionales. En particular, la estabilización y redistribución que las regiones obtienen mediante la política tributaria nacional y el sistema de transferencias intergubernamentales se estima para Colombia, donde los déficit aumentaron sustancialmente, tanto a nivel nacional como local después de que el proceso de descentralización se fortaleció en 1991. ; O objetivo deste documento é analisar o impacto da descentralização fiscal na função de estabilização. Embora tradicionalmente a função de estabilização tenha sido atribuída ao governo central, as autoridades regionais e locais desempenham um papel nessa função num contexto descentralizado. A análise se enfoca no papel que os governos subnacionais desempenham para neutralizar a política cíclica e na relação entre descentralização e posição fiscal dos governos nacionais e subnacionais. Em particular, a estabilização e a redistribuição que as regiões obtêm mediante a política tributária nacional e o sistema de transferências intergovernamentais que se estima para a Colômbia, onde os déficits aumentaram substancialmente, tanto no âmbito nacional quanto no local, depois do fortalecimento do processo de descentralização em 1991.