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Sovereign risk premia : the link between fiscal rules and stability culture

Heinemann, Friedrich; Osterloh, Steffen; Kalb, Alexander - 2013 - This version: March 2013

There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...

Persistent link: https://www.econbiz.de/10009721879

Germany and the euroland crisis : the making of a vulnerable haven

Bibow, Jörg - 2013

meanwhile reached the core. With pro-euro sentiments dwindling fast across the European Union (EU), the future of the euro … EU, most likely under French leadership, will have to convince Germany to embark on a fundamental policy course change …

Persistent link: https://www.econbiz.de/10009757118

A viable insolvency procedure for sovereigns (VIPS) in the euro area

Fuest, Clemens; Heinemann, Friedrich; Schröder, Christoph - 2014

A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional architecture of the euro area. The introduction of an insolvency procedure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...

Persistent link: https://www.econbiz.de/10010394484

On the Franco-German euro contradiction and ultimate euro battleground

Bibow, Jörg - 2013

Highlighting that France and Germany held largely contradicting hopes and aspirations for Europe's common currency, this paper analyzes how the resulting euro contradiction conditioned the ongoing euro crisis as well as current strategies to resolve it. While Germany generally prevailed in...

Persistent link: https://www.econbiz.de/10009732260

The political cconomy of corporate tax harmonization : why do European politicians (dis)like minimum tax rates?

Osterloh, Steffen (contributor); … - 2008

Setting minimum tax rates is a well discussed way of mitigating pressure from tax competition. This paper investigates which motives shape the support for a minimum corporate tax among politicians. We make use of a unique data base: a survey among members of the European parliament. Our results...

Persistent link: https://www.econbiz.de/10003793773

Easy money through the back door : the markets vs. the ECB

Bibow, Jörg (contributor) - 2001

establishment of a centralized control over monetary policy common to the eleven European Union (EU) countries that decided to …

Persistent link: https://www.econbiz.de/10003205961

Making EMU work : some lessons from the 1990s

Bibow, Jörg (contributor) - 2001

Persistent link: https://www.econbiz.de/10003206097

Who's afraid of an EU tax and why? : revenue system preferences in the European Parliament

Heinemann, Friedrich (contributor); … - 2008

The EU's revenue system is still typical for an organisation based on international cooperation and stands in contrast … to the Union's far advanced legislative and political role. This contrast feeds the debate on granting the EU an … autonomous tax source. Our contribution explores the factors which shape the acceptance of the EU tax option among European …

Persistent link: https://www.econbiz.de/10003721754

From antigrowth bias to quantitative easing : the ECB's belated conversion?

Bibow, Jörg - 2016

This paper investigates the European Central Bank's (ECB) monetary policies. It identifies an antigrowth bias in the bank's monetary policy approach: the ECB is quick to hike, but slow to ease. Similarly, while other players and institutional deficiencies share responsibility for the euro's...

Persistent link: https://www.econbiz.de/10011481632

Reconciling insurance with market discipline : a blueprint for a European fiscal union

Dolls, Mathias; Fuest, Clemens; Heinemann, Friedrich; … - 2016

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...

Persistent link: https://www.econbiz.de/10011431564