A long-standing concern in the literature has been that household mobility implies a serious threat to the viability of redistributive taxation. This paper considers the effects of deferred integration of migrants into the redistributive system of the target country. In a model of symmetric...

Der innerdeutsche Brain Drain, also die Abwanderung von Akademikern in andere Bundesländer, nimmt bisher ein moderates Ausmaß an. Zehn Jahre nach Studienabschluss sind noch knapp über 70 % aller Absolventen im Bundesland ihres Studiums ansässig. Die Daten zeigen ferner, dass ein Wegzug, wenn...

The present paper analyzes the out-migration of graduates to other German states or abroad based on the German Socio-Economic Panel (GSOEP). Applying duration analysis, it can be shown that, ten years after graduation, slightly more than seventy percent of the graduates still live in the state...

This note argues that in a situation of an inelastic natural gas supply a restrictive monetary policy in the euro zone could reduce the energy bill and therefore has additional merits. A more hawkish monetary policy may be able to indirectly use monopsony power on the gas market. The welfare...

In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded corporations are often co-owned by foreign portfolio investors, current international accounting standards allocate all corporate savings to the host country. This paper suggests a...

Anders als in der politischen Diskussion suggeriert, ist es kaum mehr der Gaspreis, der den Strompreis erhöht. Haupttreiber ist inzwischen der CO2-Preis, den Gas- und Kohlekraftwerke für ihre Emissionen zahlen müssen. Aber auch diese Kosten werden über den Strompreis der energieintensiven...

Strict environmental regulation may deter foreign direct investment (FDI). The paper develops the hypothesis that regulation predominantly discourages FDI that is conducted as Greenfield investment rather than mergers and acquisitions (M&A). The hypothesis is tested with German firm-level FDI...

In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded corporations are often co-owned by foreign portfolio investors, current international accounting standards allocate all corporate savings to the host country. This paper suggests a...

The paper analyses the financial structure of German inward FDI. From a tax perspective, intra-company loans granted by the parent should be all the more strongly preferred over equity the lower the tax rate of the parent and the higher the tax rate of the German affiliate. From our study of a...