Debt-to-GDP ratios have grown to unprecedented levels in many industrialized economies. This requires disciplined consolidation efforts which are, however, supposed to come now at the wrong time with the economic recovery being fragile. Against this background, we call for a global debt brake...

Die Schuldenstände sind in vielen Industrieländern auf Rekordhöhen angestiegen. Dies erfordert disziplinierte Konsolidierungsanstrengungen, die im derzeitigen wirtschaftlichen Umfeld allerdings zu einem vermeintlich ungünstigen Zeitpunkt kommen. Die G20-Länder sind aufgefordert, die...

We analyze how the combined effect of automatic stabilizers and discretionary changes in taxbenefit systems have affected the cushioning of income shocks in the Euro zone and the EU-27 in the period 2007-2014. We propose a new summary measure of the combined effect of automatic stabilizers and...

We analyze how the combined effect of automatic stabilizers and discretionary changes in tax-benefit systems have affected the cushioning of income shocks in the Euro zone and the EU-27 in the period 2007-2014. We propose a new summary measure of the combined effect of automatic stabilizers and...

We analyze how the combined effect of automatic stabilizers and discretionary changes in tax-benefit systems have affected the cushioning of income shocks in the Euro zone and the EU-27 in the period 2007-2014. We propose a new summary measure of the combined effect of automatic stabilizers and...

This contribution develops a blueprint for a European fiscal union. We argue that a viable European fiscal union can be constructed without joint liability for public debt or a centralized government with a large common budget. Such a fiscal union should combine elements of market discipline...

This contribution develops a blueprint for a European fiscal union. The proposal addresses the shortcomings of most other reform designs which do not offer a solution for insolvent or noncooperative euro countries. We suggest a design which combines fiscal insurance with an orderly procedure to...

Das vorliegende Gutachten untersucht die Auswirkungen einer Neuordnung des deutschen Ertragsteuersystems nach dem Vorschlag von Joachim Mitschke (2004) auf Steueraufkommen, Beschäftigung und Wirtschaftswachstum. Grundlage der Analyse ist das Steuer-Transfer-Simulationsmodell FiFoSiM des...