The German Federal Constitutional Court (Bundesverfassungsgericht) submitted an order for referral to the European Court of Justice (CJEU) in 2014, asking it to clarify the compatibility of the "Outright Monetary Transactions" (OMT)-Programme with European Union law. The OMT-Programme prepares...

This paper presents scenarios of the shutdown costs in terms of lost value added for Austria, France, Italy, Germany, Spain, Switzerland and UK. The shutdown phase will lead to considerable production losses and large declines in GDP this year. Lasting longer than a month, the losses within the...

This paper presents scenarios of the shutdown costs in terms of lost value added for Austria, France, Italy, Germany, Spain, Switzerland and UK. The shutdown phase will lead to considerable production losses and large declines in GDP this year. Lasting longer than a month, the losses within the...

This paper analyses the effects of introducing a common EU tax base with formula apportionment on the size of the EU wide tax base and on the distribution of the tax base between the EU member countries. We use a combined dataset of Deutsche Bundesbank’s Foreign Direct Investment data (MiDi)...

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...

Dieser Beitrag vergleicht die automatischen Stabilisierungswirkungen der Steuer- und Transfersysteme in der Europäischen Union und in den USA in der aktuellen Wirtschaftskrise. Dazu werden zwei Szenarien simuliert: erstens ein proportionaler Einkommensschock, in dem alle Bruttoeinkomm en um 5...

How do different components of the tax and transfer systems affect disposable income inequality? This paper explores the redistributive effects of different tax benefit instruments in the enlarged EU based on two approaches. Inequality analysis based on the standard approach suggests that...