The New View on fiscal policy (as coined by Furman 2016) represents a rethinking of the main-stream consensus on the optimal macroeconomic policy mix. It focuses on a reassessment of the relative effectiveness of fiscal policy and its ability to stabilise the economy when monetary policy reaches...

Monetary policy has implicit redistribution effects for households when households are different. This changes the aggregate consumption response to interest rate changes. This paper is the first to estimate the magnitude of redistributionary channels of monetary policy in the euro area. When...

Das EU-Budget für die Periode 2021 bis 2027 muss sich stärker als bisher am europäischen Mehrwert orientieren, um angesichts der kontroversiellen Positionen der Mitgliedsländer und deren primärer Orientierung an der Nettoposition eine Einigung zu ermöglichen. Eine weitere Stärkung des...

This study presents in detail the concept of a financial transaction tax (FTT) and the theoretical and empirical evidence in favour and against introducing it, the potential revenues, different implementation designs and its ability to correct various market failures. We analyse the benefits and...