Through an intertemporal budget constraint, jurisdictions may gain advantages in tax and spending competition by 'competing' on debt. While the existing spatial econometric literature focuses on tax and spending competition, very little is known about spatial interaction via public debt. This...

Through an intertemporal budget constraint, jurisdictions may gain advantages in tax and spending competition by 'competing' on debt. While the existing spatial econometric literature focuses on tax and spending competition, very little is known about spatial interaction via public debt. This...

Hans-Olaf Henkel (Jahrgang 1940), früherer Präsident des Bundesverbands der Deutschen Industrie und heute Professor für Betriebswirtschaftslehre an der Universität Mannheim, analysiert hier schonungslos die Ursachen der globalen Krise und den Aktionismus der Politik. (Jürgen Plieninger)