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There is an intensive debate about old-age poverty in Germany that has induced political parties to develop proposals for higher pensions of poor pensioners in light of the federal elections of September 2013. In addition, several proposals from economists aim at reforming the pension system in...
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The European sovereign debt crisis has revealed severe flaws in the design of the internal market. Both, private and public borrowers had incentives for excessive borrowing, which have been created by deficits in the regulatory structure of financial markets. Capital requirements for banks were...
Persistent link: https://www.econbiz.de/10009751342
Die europäische Schuldenkrise hat zentrale Defizite des Binnenmarkts offengelegt. Regulatorische Defizite haben Anreize geschaffen, eine zu hohe Verschuldung einzugehen. Zwar wurde eine einheitliche Geldpolitik verfolgt, gleichzeitig aber die Kompetenzen für die Aufsicht und Restrukturierung...
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The current European fiscal framework is highly complex. The multitude of fiscal rules and the discretion in their enforcement precludes an effective oversight and weakens the effectiveness of fiscal rules substantially. Against this background, we present a proposal for a careful refocusing of...
Persistent link: https://www.econbiz.de/10011898769
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...
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Im vorliegenden Beitrag werden die Grenzabschöpfungsraten des deutschen Finanzausgleichs für die Länder seit dem Jahr 1970 erstmals unter Berücksichtigung aller ihrer ausgleichsrelevanten Einnahmen berechnet. Die Ergebnisse zeigen die Effekte der Reformen der Finanzverfassung im Zeitverlauf...
Persistent link: https://www.econbiz.de/10011801026