Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as the single most important correlate of the subsequent Leave vote in the 2016 European Union (EU) referendum, along with broader measures of political dissatisfaction, are...

The argument by Piketty and others that there is growing inequality and this is causing damage is not new. But regardless of who is running this argument, it is significantly flawed. The poor have definitely improved their situation, especially if taxes and income support are included, in many...

This paper discusses the role of affordability in the economic regulation of the retail markets of network infrastructure industries – railways, electricity, water and telecommunications/ICT. The paper first considers the rise of these industries after 1800 from serving a small number of...

Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...

Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...

This paper investigates the deindustrialization process in Germany and Spain from 1995 to 2018. It is argued that the deindustrialization trajectories of each country are partially related to their growth models. An analysis in two steps is conducted. First, using the OECD input-output tables, a...

The optimal taxation level and tax structure depend on numerous factors and enormously differ from country to country. However, the two mentioned tax policy instruments could ensure economic recovery and sustainable economic growth. This article aims to examine the effects of tax policy on...

Economic policy interventions of a scale as effected in eastern Germany can be expected to have a significant impact on the economy, which may be in accordance with the objectives of the policy measures or manifest itself in distortions of several kinds. This paper analyzes the structural...