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This paper tries to explain the declining level of public investment in OECD countries. The theoretical framework hints to the relevance of a number of demand and supply factors – ranging from the yield of public investment to institutions like the EU deficit limits. The econometric results...
Persistent link: https://www.econbiz.de/10010298102
Setting minimum tax rates is a well discussed way of mitigating pressure from tax competition. This paper investigates which motives shape the support for a minimum corporate tax among politicians. We make use of a unique data base: a survey among members of the European parliament. Our results...
Persistent link: https://www.econbiz.de/10010298690
Die Europäische Investitionsbank (EIB) mobilisiert in quantitativ bedeutendem Ausmaß Finanzmittel für EG-Politikfelder außerhalb des EG-Haushalts. Die von der Bonität des Schuldners abhängige implizite Zinssubvention ist wohlfahrtstheoretisch nicht zu rechtfertigen. Es ist zu vermuten,...
Persistent link: https://www.econbiz.de/10010299632
for their national debt, the analysis shows that discipline solely from market pressure cannot be expected. The mechanism …
Persistent link: https://www.econbiz.de/10010299640
Durch den Maastrichter Vertrag soll Europa auf den Weg zu einer solidarischen und subsidiären Währungsunion gebracht werden. Nach einer Übersetzung dieser Begriffe in ökonomische Termini werden die Konsequenzen für die Fortentwicklung der EG-Finanzen untersucht. Es zeigt sich, daß das...
Persistent link: https://www.econbiz.de/10010299661
There are at least two reasons why sustainability of public debt is an issue of increasing importance. First, public choice considerations show the danger of an excessive use of deficit finance in a democracy. Second, the conditions of a European Monetary Union (EMU) imply further incentives for...
Persistent link: https://www.econbiz.de/10010299685
With the introduction of the euro, a single European money market has emerged. Further wholesale financial markets are …. For measuring financial market integration this distinction between wholesale and retail markets becomes crucial. There is … financial market integration with a focus on the distinction between wholesale and retail financial markets. In a second step …
Persistent link: https://www.econbiz.de/10010301768
The purported advantages of corona bonds over the ESM are meagre to non-existent, says Friedrich Heinemann (EconPol Europe, ZEW). The challenge we face is to contain the spread of COVID-19 while stabilising the economy and ensuring eurozone states have sufficient liquidity and the ESM is a...
Persistent link: https://www.econbiz.de/10012237660
central bank objective function: financial stability, sovereign bond market stability, public debt, climate protection, and …
Persistent link: https://www.econbiz.de/10014286962
(NGEU) beläuft sich der deutsche Finanzierungs- anteil für die Tilgungen auf 109 Milliarden Euro. Zudem übernimmt … Deutschland bis zur Rückzahlung aller NGEU-Kredite bis 2058 zusätzlich Garantien im Umfang von anfangs 134 Milliarden Euro für die …
Persistent link: https://www.econbiz.de/10014528318