Zum wiederholten Mal hat das Bundesverfassungsgericht das Erbschaftsteuergesetz für verfassungs-widrig erklärt. In seinem Urteil vom 17.12.20141 entschied das Gericht, dass die derzeit geltenden Regelungen zur Verschonung betrieblichen Vermögens zu weitreichend sind. Der Gesetzgeber wurde...

In this analysis, the informational content of central bank rhetoric is assessed based on the experience with the ECB since 1999. Among the ECB?s communication channels we focus on the monthly press conferences. Based on a counting of certain signal words we construct a wording indicator...

Since the start of EMU national fiscal policy in the Eurozone can be conducted almost without paying any attention to consequences for the exchange rate. This might lower fiscal discipline. In order to shed light on the empirical relevance of this consideration, the impact of the exchange rate...