Showing 1 - 10 of 1,305
Persistent link: https://www.econbiz.de/10000673676
Corporate taxes are inefficient and have disproportionate deadweight costs. The optimal corporate tax rate is zero. Most voters are easily deluded into thinking that corporate taxes impose no cost on them, and politicians around the world have cut corporate tax rates, not because they have...
Persistent link: https://www.econbiz.de/10013225235
SMEs play a crucial role for European economies. The numbers show the high importance of SMEs for national economies. Accordingly, it is no surprise that the regulatory framework SMEs are imbedded in is the subject of an important political discussion. In the discussion it is frequently...
Persistent link: https://www.econbiz.de/10003750325
Diese Studie befasst sich mit dem Auseinanderlaufen der gesamtwirtschaftlichen Entwicklung nach der globalen Finanzkrise im Vergleich von Eurozone, USA und Großbritannien. Die Eurozone erholte sich seit 2010 deutlich schleppender als die US-amerikanische und die britische Wirtschaft. Die Rolle...
Persistent link: https://www.econbiz.de/10012100198
In the last decade, over half of the EU countries in the euro area or with currenciespegged to the euro were hit by large risk premium shocks. Previous papers havefocused on the impact of these shocks on demand. This paper, by contrast, focuses onthe impact on supply. We show that risk premium...
Persistent link: https://www.econbiz.de/10012889134
The new Governor of the Bank of England, Andrew Bailey, faces a formidable challenge. From his very first day in office on 16 March 2020 he has been confronted with an imbalance between the demands on his institution to support the economy and the capacity of the Bank to meet that challenge.The...
Persistent link: https://www.econbiz.de/10013220017
In the late eighteenth and early nineteenth century, Scotland had a stable financial system. Its stability arose from the pressure that private banks, which had the right to issue bank notes, placed on each other to behave prudently. Unlike in England, the Scottish banking system had no central...
Persistent link: https://www.econbiz.de/10013224803
This paper offer a guide to how the British experience of 1929–39 may provide useful macroeconomic lessons for the present once due regard is made for historical contingency and context. It re-examines the forces that shaped policy and what we know about policy impact, focusing on, first, the...
Persistent link: https://www.econbiz.de/10013102790
We use a SVAR approach to the effects of fiscal and monetary policies, as well as their interactions (policy mix) for the US and the Euro Area (EMU). Overall, our results show that these two cases are different from each other. First, while in the case of the US there is evidence of Keynesian...
Persistent link: https://www.econbiz.de/10012928380
Over the past 20 years, considerable progress has been made in the science of monetary policy. This is under threat from a new era of economic populism. There is a clear danger that in the absence of an open and deep debate about the fundamental objectives of the central bank, the political...
Persistent link: https://www.econbiz.de/10013216816