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German and the rest of euro area fiscal policy during the crisis

Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015

We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment and a complex international structure. We use the model...

Persistent link: https://www.econbiz.de/10010516561

Thoughts on a fiscal union in EMU

Gadatsch, Niklas; Hollmayr, Josef; Stähler, Nikolai - 2016

Using an estimated large-scale New-Keynesian model, we assess welfare and business cycle consequences of a fiscal union within EMU. We differentiate between three different scenarios: public revenue equalisation, tax harmonisation and a centralised fiscal authority. Relative to the status quo,...

Persistent link: https://www.econbiz.de/10011546743

Budget-neutral labour tax wedge reductions : a simulation-based analysis for selected euro area countries

Attinasi, Maria-Grazia; Prammer, Doris; Stähler, Nikolai; … - 2016

Budget-neutral tax wedge reductions rank high in the policy agenda of several EMU member states. Using a New Keynesian DSGE model of a monetary union with a complex labour market structure and a comprehensive public sector, we evaluate the macroeconomic and welfare effects of reducing the firms'...

Persistent link: https://www.econbiz.de/10011518187

Effektive Steuerbelastung der grenzüberschreitenden Geschäftstätigkeit nach den Vorschlägen zur Reform der Unternehmensbesteuerung

Spengel, Christoph - 2000

Das Steuersenkungsgesetz stellt das größte Reformvorhaben auf dem Gebiet der direkten Steuern in Deutschland seit der Einführung des körperschaftsteuerlichen Anrechnungssystems zum 1.1.1977 dar. Vorgesehen sind eine Änderung des Steuersystems, eine Verringerung der Steuersätze sowie eine...

Persistent link: https://www.econbiz.de/10001465741

Carbon pricing, border adjustment and climate clubs : an assessment with EMuSe

Ernst, Anne; Hinterlang, Natascha; Mahle, Alexander; … - 2022

In a dynamic, three-region environmental multi-sector general equilibrium model (called EMuSe), we find that carbon pricing generates a recession initially as production costs rise. Benefits from lower emissions damage materialize only in the medium to long run. A border adjustment mechanism...

Persistent link: https://www.econbiz.de/10013259654

How do investors value the publication of tax information? : evidence from the European public country-by-country reporting

Müller, Raphael; Spengel, Christoph; Weck, Stefan - 2021 - This version: October 2021

We examine the capital market reaction to the announcement of the European Union (EU) to introduce a public tax country … extended information environment or more sustainable corporate tax strategies. In cross-sectional tests, we find that the …, providing an initial indication for the role of the competitive environment as an additional channel. Our inferences are of …

Persistent link: https://www.econbiz.de/10012648417

Breaking borders? : the European Court of Justice and internal market

Spengel, Christoph; Fischer, Leonie; Stutzenberger, Kathrin - 2020

Upon more than 400 judgements on direct taxation, the case law of the European Court of Justice has considerably shaped Member States' tax systems. Based on Member States' tax law adjustments in the context of four landmark rulings on corporate income taxation, we analyse whether case law is a...

Persistent link: https://www.econbiz.de/10012311832

Ring-fencing digital corporations : investor reaction to the European Commission's digital tax proposals

Klein, Daniel; Ludwig, Christopher A.; Spengel, Christoph - 2019

avoidance, have a higher profit shifting potential, and for those with higher exposure to the EU. The market value of digital …

Persistent link: https://www.econbiz.de/10012126106

Re-allocating taxing rights and minimum tax rates in international profit taxation

Kempkes, Gerhard; Stähler, Nikolai - 2021

What are the macroeconomic implications of re-allocating taxing rights away from source countries (where goods are produced) to market countries (where goods are consumed) and introducing minimum rates in international profit taxation? We assess this question in a dynamic macroeconomic model...

Persistent link: https://www.econbiz.de/10012433663

Reporting behavior and transparency in European banks' country-by-country reports

Dutt, Verena K.; Nicolay, Katharina; Spengel, Christoph - 2021

The public CbCR requirement for EU financial institutions leaves leeway to the reporting firms as regards the … calculating and presentation of the data. Based on a sample of CbCRs published by EU-headquartered multinational bank groups, we … important in light of the proposal for a public CbCR for large multinational firms in the EU. …

Persistent link: https://www.econbiz.de/10012434484