Does a monetary union need fiscal shock absorbers helping the participating countries to cope with asymmetric shocks? The consensus in the debate over EMU argues that the answer is yes. In this paper, we revisit the issue, building on a dynamic, general equilibrium framework of regions in a...

US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and...

Als Folge des Health Check der Gemeinsamen Agrarpolitik sowie des europäischen Konjunkturprogramms wurden die Mittel des Europäischen Landwirtschaftsfonds zur Entwicklung des ländlichen Raums (ELER) aufgestockt, um damit geeignete Maßnahmen zur Reaktion auf die neuen Herausforderungen...