Rational and forward-looking individuals know that government debts today mean higher taxes in the future. The Ricardian equivalence at the national level implies that the burden of the debt cannot be shifted between generations as intergenerational transfers allow the future generation to pay...

David Stadelmann Effects of Fiscal Policies on House Prices New Evidence, Persistence, Consequences T l Nomos Contents 1. Non-Technical Overview 11 1.1. Core Concepts 13 1.2....

Abstract: Warum sind Immobilien in bestimmten Gemeinden teurer als in anderen und welche lokalen Einflussfaktoren bestimmen die Immobilienpreise? Unterscheiden sich Immobilienpreise zwischen Gemeinden aufgrund von unterschiedlichen lokalen Steuern und haben derartige Preisunterschiede über...

Capitalization of fiscal packages at the local level is often criticized as a demand side phenomenon. We provide a theoretical model in which capitalization depends on the elasticity of housing supply and demand. When supply is perfectly elastic, capitalization does not persist over time. Using...