At the beginning of June 2020, the German government launched a comprehensive economic stimulus package to promote economic recovery. With a volume of EUR 130 billion, this program far outstrips programs launched in the wake of the financial and economic crisis of 2008/09. We present the fiscal...

This paper analyzes the effectiveness of the tax and transfer systems in the European Union and the US to act as an automatic stabilizer in the current economic crisis. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the...

This paper investigates the relationship between the magnitude of automatic stabilizers in the tax and transfer systems of 19 EU countries and the US, and discretionary fiscal stimulus packages passed by these countries during the recent economic crisis. In particular, we ask whether countries...

(Un-)gleichheit und Gerechtigkeit waren schon immer Kernbestandteil eines jeden politischen Konzeptes, welches das Wohl der Menschen in den Mittelpunkt rückte. Die Idee der Gleichheit ist so alt wie die der Demokratie selbst und neben instrumentellen Gründen, aus denen man (Un-)gleichheit...

This paper uses panel data for 116 countries over the period 1995-2016 to investigate the heterogeneity of the debt-growth nexus across countries and the factors underlying it. In the first step, the grouped fixed effects (GFE) estimator proposed by Bonhomme and Manresa (2015) is used to...

In this paper we investigate the relationship between per capita income and foreign aid for a panel of 131 (alternatively 52) recipient countries over the period 1960 to 2006 by employing annual data and 5-year averages. Reliance on standard panel estimation techniques, such as 2-ways FE...

Inflows of remittances to Pakistan are being increasingly viewed as a relatively attractive source of external finance, one that can help to foster development and manage economic shocks. Remittances have become a major source of revenue, surpassing the volume of FDI and official development...

This paper investigates whether Aid for Trade (AfT) leads to greater exports in recipient countries. Using panel data and panel quantile regression techniques, our results suggest that total AfT disbursements promote the export of goods and services, but is limited primarily to exporters above...