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Reforming the financing of the European Union : a proposal

Fuest, Clemens; Heinemann, Friedrich; Ungerer, Martin - 2015

In this paper we propose a reform of the EU financing system. The two most important elements of our proposal are i) to … make the contribution of taxpayers to the EU budget more visible by showing an EU VAT share on receipts and ii) to increase … the power of the European Parliament in the determination of the structure of EU expenditures by limiting the multiannual …

Persistent link: https://www.econbiz.de/10010528261

FIRE for the euro : a strategy for stabilizing government bond markets

Heinemann, Friedrich - 2012

The aggravating turbulences in the market for euro government bonds have so far precluded any recovery from the debt crisis. The key problem is that structural reforms and consolidation measures have long impact lags and are not able to stop an acute self-fulfilling crisis of confidence. In the...

Persistent link: https://www.econbiz.de/10010497246

Why and how there should be more Europe in asylum policies

Berger, Melissa; Heinemann, Friedrich - 2016

The experiences of the ongoing refugee crisis in Europe highlight the failures of the current model of having the EU … of reception capacity; (B) EU financing of national service provision; and (C) EU service provision in asylum policies. …

Persistent link: https://www.econbiz.de/10011414748

Making the most of the European Fiscal Board

Asatryan, Zareh; Debrun, Xavier; Heinemann, Friedrich; … - 2017

Following numerous reforms of fiscal governance in the eurozone since 2011, the year 2016 saw another important innovation: the founding of the European Fiscal Board (EFB) with the selection and appointment of its five members. The EFB was one of the elements envisaged by the Five Presidents'...

Persistent link: https://www.econbiz.de/10011639575

Magnitudes and capital key divergence of the Eurosystem's PSPP/PEPP purchase - update June 2023 : study supported by the Brigitte Strube Foundation

Birkholz, Carlo; Heinemann, Friedrich - 2023

In this report we update the quantitative analysis of the PEPP and PSPP conduct and analyze whether reinvestments are actually made in accordance to these claims. In prior versions of our report, we have detected patterns in the net purchases under PEPP and PSPP, which suggested systematic and...

Persistent link: https://www.econbiz.de/10014249465

Dispelling the shadow of fiscal dominance? : fiscal and monetary announcement effects for euro area sovereign spreads in the Corona pandemic

Havlik, Annika; Heinemann, Friedrich; Helbig, Samuel; … - 2021

economic consequences of pandemic disruptions. In addition, EU Member States have designed stimulus packages in order to …

Persistent link: https://www.econbiz.de/10013488768

Magnitudes and capital key divergence of the Eurosystem's PSPP/PEPP purchases - update December 2021

Birkholz, Carlo; Heinemann, Friedrich - 2021

The ECB Council has to take a decision on the future of its asset purchase programmes as the monetary crisis support that was appropriate in the early phase of the pandemic needs to be adjusted to new circumstances. The changing environment is characterized by an advanced recovery from the...

Persistent link: https://www.econbiz.de/10013492832

Inflation of objectives instead of focus on inflation? : evidence on the ECB objective function from a textual analysis : study supported by the Brigitte Strube Foundation

Heinemann, Friedrich; Kemper, Jan - 2022

In this analysis, we investigate ECB communication by analyzing more than 3,800 speeches from 1999 until 2022. The study measures the attention which ECB Council members pay to various implicit and explicit monetary policy objectives. While price stability, according to the Maastricht Treaty, is...

Persistent link: https://www.econbiz.de/10013492997

Magnitudes and capital key divergence of the Eurosystem's PSPP/PEPP purchases - update December 2020 : study supported by the Brigitte Strube Foundation

Havlik, Annika; Heinemann, Friedrich - 2020

Since March 2020, the Eurosystem has been purchasing government bonds under the Pandemic Emergency Purchase Programme (PEPP). The PEPP was set up as a non-standard policy measure to encounter the economic and financial consequences of the Covid-19 pandemic and is an additional program to the...

Persistent link: https://www.econbiz.de/10013488579

Simulating a European recovery fund

Heinemann, Friedrich - 2020

European leaders debate the establishment of a "European Recovery Fund" (ERF). The ERF shall help the European economy to restart growth after the COVID-19 pandemic-related recession that is currently unfolding. Early national and European fiscal measures of anti-crisis policy have been focused...

Persistent link: https://www.econbiz.de/10013484697