The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, leading to deleveraging and credit crunch when the bubble burst....

During the Great Recession and its aftermath, state and local governments’ revenue streams dried up due to diminished taxes. Budget cuts affected many aspects of government; in this paper, we investigate whether (and how) local school districts modified their funding and taxing decisions in...

Selten hat ein Wirtschaftsbuch so viel Aufmerksamkeit erregt wie Thomas Pikettys Das Kapital im 21. Jahrhundert . Seine These, die ungleiche Verteilung von Einkommen und Vermögen durch Enteignung zu beheben, fand rasch zahlreiche Anhänger und hat eine breite gesellschaftliche Debatte...