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....

Die künftige Regierung sollte die wirtschaftliche Erholung und Stärkung der Wachstumskräfte in den Mittelpunkt ihrer Politik stellen. Dabei ist es sinnvoll, öffentliche Investitionen auszubauen, steuerliche Bedingungen für private Investitionen, Innovationen und Beschäftigung zu...

This paper identifies tax policy that both speeds recovery from the current economic crisis and contributes to long-run growth. This is a challenge because short-term recovery requires increases in demand while long-term growth requires increases in supply. As short-term tax concessions can be...

Die Steuer- und Finanzpolitik legt die Grundlagen für eine erfolgreiche Aufgabenerfüllung des Staates. Wie wird in den nächsten Jahren die Steuer- und Finanzpolitik gestaltet werden? Wo liegen die Probleme? Wo sehen Wissenschaft, Handwerk und Politik Handlungsbedarf? Um diese Fragen zu...

Nearly forty years after his untimely death, Stanley Surrey, the renowned Harvard law professor (and Treasury official), remains perhaps the most important and influential tax law scholar in American history. The recent publication of his highly illuminating memoirs offers a convenient occasion...

Over the last four decades, Americans have consistently told pollsters that they favor higher taxes on business and the wealthy, even as tax policy has moved sharply in the other direction. Political scientists and political commentators regularly assume that elected officials respond to the...

Cultural policy discussions are increasingly concerned with the creation and restructuring of tax incentives; thus, cultural policy and tax policy are becoming more and more intertwined. With the widely held perception that there has been a general decrease in the availability of direct public...

We study state-dependent effects of narratively identified tax shocks in Germany and the UK over the period 1974Q1–2018Q4 using local projections. In addition, we distinguish between aggregated and disaggregated tax types (direct and indirect taxes) as well as look for possible asymmetries...