We test several hypotheses concerning the growth of public expenditure by the Austrian monarchy between 1870 and 1913 in relation to Wagner's law, as well as the impact of increasing public indebtedness and the expanding role of the Imperial Council towards the end of the analyzed period, using...

This paper investigates the efficiency of the public sector in a sense of public performance and expenditures. For 23 European countries and for the period between 1995 and 2015 we construct a measure of public sector performance that consist of nine distinct indices for each area of public...

We analyze the effectiveness of an increase in government consumption for stimulating growth for diverse levels of public debt in the European Union. We conclude, that growth rate can be stimulated in the short run by an increase in government consumption but only at low levels of public debt....

In this paper, we analyze the development of public consumption expenditure in Austria starting in the 1940s. We focus our attention on two hypotheses as to why public consumption expenditure has been constantly increasing: Wagner's law and Baumol's cost disease. The estimated income elasticity...

We apply the difference-in-discontinuities design to disentangle the fiscal effects of the governance system conditional on electoral systems. We take advantage of a natural experiment, which involves two institutional reforms at the local level in Poland. The first reform introduced two...

The global economy is currently experiencing a new wave of technological change involving new technologies, especially in the realm of artificial intelligence and robotics, but not limited to it. One key concern in this context is the consequences of these new technologies on the labour market....

The future of employment and labour demand growth in the dawning era of intelligent robots and other new technologies is heavily debated. This paper argues that this discussion needs to be complemented by a second trend which has been unfolding in Europe for some time, namely the demographic...

Europe will be challenged by demographic changes over the next few decades, even under favourable assumptions about fertility and migration, but the economic effects are not yet fully understood. This paper studies the effects of population ageing on economic growth, capital deepening and...

Against the background of the need for alternative and additional financing channels for SMEs in Europe, this paper analyses the market segment of debt funds. It provides a market overview and comprehensive insight into the results of the EIF Private Debt Survey, a new study that provides unique...