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The Positive Border Effect of EU Integration

Brakman, Steven - 2011

, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …

Persistent link: https://www.econbiz.de/10013130414

Short and Long-Run Behaviour of Long-Term Sovereign Bond Yields

Afonso, António - 2010

This study assesses the short and long-run behaviour of long-term sovereign bond yields in OECD countries, for the period 1973-2008. We employ a dynamic panel approach to reflect financial and economic integration, and to increase the performance and accuracy of the tests. Given the existence of...

Persistent link: https://www.econbiz.de/10013135912

On the Political Economics of Tax Reforms

Castanheira, Micael - 2011

There is often a gap between the prescriptions of an 'optimal' tax system and actual tax systems, some of which can be neither efficient economically nor efficient at redistributing income. With a focus on personal income taxes, this paper reviews the political economics literature on tax...

Persistent link: https://www.econbiz.de/10013121826

Reflections on Cluster Policies

Brakman, Steven - 2012

Economic activity tends to cluster. This results in productivity gains. For policy makers this offers an opportunity to formulate and promote policies that foster clustering of economic activity. Paradoxically, although agglomeration rents are often found in empirical research a rationale for...

Persistent link: https://www.econbiz.de/10013098963

The Role of Fiscal Instruments in Environmental Policy

Kosonen, Katri - 2009

Environmental protection is one of Europe's key values. The EU has set clear policy objectives to achieve its … environmental goals. The EU has favoured market-based instruments, among which fiscal instruments to tackle the climate change …

Persistent link: https://www.econbiz.de/10013157842

Tax Co-Ordination in Europe : Assessing the First Years of the EU-Savings Taxation Directive

Hemmelgarn, Thomas - 2009

This paper reviews the economic effects of the EU Savings Taxation Directive. The Directive aims at enabling taxation …

Persistent link: https://www.econbiz.de/10013158088

Government Deficits in the European Union : An Analysis of Entry and Exit Dynamics

Bayar, Ali H. - 2009

The extent of government deficits and debt has been one of the most debated issues in recent years. However, much less has been contributed about their dynamics. Yet, the issue of entering into and exiting from excessive deficits is critical in the Economic and Monetary Union since the Stability...

Persistent link: https://www.econbiz.de/10013158139

Spend-and-Tax : A Panel Data Investigation for the EU

Afonso, António - 2009

, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …

Persistent link: https://www.econbiz.de/10013158140

Consequences of Brexit and Options for a 'Global Britain'

Brakman, Steven - 2017

; most studies predict a trade and welfare loss for both the UK and the EU. The UK parliament has indicated that it aims for … for the EU. After reviewing all potential options, we have a simple answer to the question whether the UK has an … alternative for the existing trade agreement with the EU. The answer is: No. Only a trade agreement with the EU can compensate for …

Persistent link: https://www.econbiz.de/10012955285

‘Whatever It Takes’ to Resolve the European Sovereign Debt Crisis? Bond Pricing Regime Switches and Monetary Policy Effects

Afonso, António - 2017

This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...

Persistent link: https://www.econbiz.de/10012943161