Using data from a unique survey of members of parliaments in France, Germany and Italy in 2018, we estimate the effects of three dimensions on EU and euro area fiscal reform preferences: nationality, political ideology, and populism. We predict and confirm that a German populist party on the...

Commercial banks in some euro area member states hold large amounts of sovereign debt that offer a risk premium and hence higher yields than AAA-rated bonds issued by the most creditworthy countries. In particular, banks in vulnerable countries exhibit a bias towards domestically issued...

We use novel data to describe the evolution of party differences in parliamentary speech in Finland during 1907-2018. We find a peak in left-right polarization in the 1970s, driven by the extreme left party, and co-occuring with a high prevalance of Soviet Union related phrases, perhaps...

Why do politicians sometimes pursue policies with uncertain outcomes? We present a model in which politicians are unable to pre-commit to a status quo policy, and where investors and voters face a conflict over the division of output. Politicians may deviate from the status quo and pursue risky...

Ostdeutschen AfD-Landesverbände sind radikaler aufgestellt als ihre westdeutschen Pendants und ihre politische Durchschlagskraft könnte sich bei den Landtagswahlen in Sachsen, Thüringen und Brandenburg im September noch vergrößern. Trotz der mittlerweile vielfachen Warnungen vor nicht...

The fundamental right to gender equality has played an important role in Germany's more recent constitutional history. The rulings of the Federal Constitutional Court (FCC, Bundesverfassungsgericht) and other courts have developed doctrinal standards that are relevant to anti-discrimination...