The paper analyses how independent fiscal watchdogs (fiscal policy councils) can strengthen the incentives for fiscal discipline. By increasing fiscal transparency they can raise the awareness of the long-run costs of current deficits and increase the reputational costs for governments of...

To investigate the relation between trust and formal institutions, we analyze bilateral trade patterns in a sample of 16 European countries between 1996-2009. Trust in trading partners has a significant positive effect on bilateral trade. However, our results suggest that trust and formal...

In this study, we systematically evaluate the potential of a bunch of survey-based indicators from different economic branches to forecasting export growth across a multitude of European countries. Our pseudo out-of-sample analyses reveal that the best-performing indicators beat a well-specified...

The Eurasian continent, which has for over a century lagged behind in global markets, is currently gaining economic and political momentum. This book investigates emerging economic linkages in the area, examining the factors shaping this integration, the benefits and risks involved, and the...

Durch die Versteigerung der UMTS-Lizenzen erhielt die Bundeskasse unerwartete Mehreinnahmen von knapp 100 Mrd. DM. Diese Erlöse sollen zur Schuldentilgung verwendet, die dadurch einsparten Zinszahlungen des Bundes in Höhe von jährlich 5 Mrd. DM in Forschung, Bildung, Verkehr und...

Die wirtschaftliche Entwicklung der neuen Bundesländer hängt besonders mit der Finanzierung zusammen. Der Bericht enthält den Stand, die Probleme und die Perspektiven für die verschiedenen Finanzierungsmöglichkeiten. Zunächst werden mikroökonomischen Finanzierungsaspekte behandelt. Dabei...