default. Due to a multitude of large scale events in its past, Germany is far from being an exception: In fact, Germany … Germany's public finances against the standard theoretical back‐ground using a unique database, retrieved from multiple …, contradicting the historical perception of Germany as the poster child of European public finance. Given these corresponding breaks …

Germany using an unprecedentedly comprehensive fiscal dataset for the time period from 1950 to 2011 for West German Laender …

newly compiled database covering the years 1950‐2011. Unlike previous studies on Germany, we analyze fiscal sustainability …