In this paper, we show that, contrary to common beliefs, over the past two decades several countries were able to reduce public spending by remarkable amounts. These countries did not seem to have suffered from these large reductions either in a macroeconomic sense, or in terms of lower values...

Friedrich Heinemann • Philipp Mohl Steffen Osterloh Reform Options for the EU Own Resources System ZEW Physica-Verlag Zentrum fur Europaische A Springer Company Wirtschaftsforschung GmbH Table of...

This study develops a reform proposal for the future revenue system of the EU budget. The findings strongly reject the idea that a reform based on an EU tax-based own resource would remedy current problems. Against the background of the status quo analysis the authors present a reform model...

This paper provides a study of bond yield differentials among EU government bonds issued between 1993 and 2005 on the basis of a unique dataset of issue spreads in the US and DM (Euro) bond market. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk...

Does globalization restrict the leeway for national budgetary policy? With the help of cluster and discriminant analysis this study provides evidence on the basis of the experience of OECD countries since the 1970s. Four budgetary dimensions are included in the analysis: tax structure,...