, state cabinets are confronted with trade-offs because public funds are scarce: While fiscal rules limit public borrowing …, Länder are barely entitled to increase taxes autonomously. Thus, budgetary trade-offs must be solved on the expenditure side … budgetary trade-offs, the interdependence of expenditure shares (seemingly unrelated regressions) and the budget constraint …

This paper examines how central banks respond to supply-side shocks and investigates the trade-offs they face in …

these externalities often involve equity-efficiency trade-offs, presenting policymakers with challenging resource … target infrastructure investments, maximising economic returns and mitigating equity-efficiency trade-offs. This approach is …

This paper examines how central banks respond to supply-side shocks and investigates the trade-offs they face in …