In this study, we analyze the cyclicality of fiscal policies in China during the period 1978-2013. We find that the cyclicality of local government spending in China significantly affects the cyclicality of total government spending. By employing both time-series and province-level panel data,...

This paper analyses the effectiveness of the corporate income tax as an automatic stabilizer. It employs a unique firm-level dataset of German manufacturers combining financial statements with firm-specific information about credit market restrictions. The results show that approximately 20 per...

Many European economies are gradually recovering from the corona pandemic, although it is not yet over. National governments are using the breather to assess the effectiveness of their less-conventional and short-term crisis-prevention measures. This is important because they must prepare to...

This paper estimates the incidence of corporate taxes on wages using a 20-year panel of German municipalities exploiting 6,800 tax changes for identification. Using event study designs and differences-in-differences models, we find that workers bear about half of the total tax burden....

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...