In der Euro-Krise gingen starke Änderungen in internationalen Kapitalflüssen mit großer makroökonomischer Unsicherheit einher. Zwar ist es offensichtlich, dass beide Faktoren ökonomische Schocks auslösen bzw. verstärken können, es ist aber derzeit unklar, inwiefern sie direkt miteinander...

The paper investigates the reaction of public R&D spending on economic crises. We are interested in two counteracting motives: On the one hand, public R&D spending can be seen as a means to fight the crisis, and governments may decide to increase their R&D budgets. On the other hand, a crisis...

In 2020, the budget policy of the Russian Federation regarding regions had a strongly pronounced counter-cyclical nature aimed at immediate support of the worst-off subjects. This measure allowed to offset declining tax and non-tax revenues and ensure implementation of regional anti-crisis...

This paper asks whether funding for public schools affects parents' decision to send their children to private schools. In the wake of the Great Recession, funding for public K-12 education fell precipitously in the United States and stayed low for several years. Critically, states with greater...

The paper investigates government R&D spending during the business cycle. When analyzing this expenditure, it is important to mention two opposing aspects: on the one hand, government spending on R&D can be seen as a stimulus measure for the government to mitigate the effects of the recession on...

For the last several years, the congressional budget process has jumped from self-created crisis to self-created crisis. Debt limit, shutdown, sequester, potential withholding of congressional pay, and others beyond that — all of these crises coming in quick succession and requiring Congress...