Those economists who expected the increasing US budget deficits in recent years to have a negative impact on private investment spending have so far been proved wrong. Hans-Peter Fröhlich provides an analysis of what has happened and examines the interrelation between public sector deficits and...

Escalating healthcare expenditures and the need to ensure access to affordable medicine in both emerging and emerged economies are fuelling calls to contain the so-called evergreening practices of drug producers around the world. But such practices are the necessary outcome of a system that...

A large number of governments in all regions of the world have recognised the need for paid sick leave although the benefi t schedules vary widely. International data show that the incidence of paid sick leave is closely associated with overall economic developments. What are the patterns of...

The current system for the financing of the EU needs to be reformed. This paper puts forth a reform proposal with two important elements: first, the addition of an EU VAT share on receipts; and second, a shift in power from the European Council to the European Parliament with regard to the...

In recent years spectacular attempts by various major industrialized countries to reduce government expenditure have met with limited success and given rise to heavy controversies. What are the lessons to be learnt? What are the principles to be followed in cutting government expenditure?

With the spectre of a recession looming in the eurozone (and elsewhere), the policy question arises as to how much leeway do the fiscal authorities in the eurozone have to follow counter-cyclical fiscal policies aimed at providing some stimulus to the economy.