We use frequency-wise Granger-causality tests and error-correction models to investigate the driving forces behind longer-run inflation developments in the euro area. Employing an eclectic approach we consider various relevant theories. With a general-to-specific testing strategy we distill the...

Using annual data for 21 OECD countries we provide evidence of remarkable mispricing of sovereign bonds for the so-called GIIPS countries before the start of the financial crisis. Our results also qualify the view of pronounced overpricing in the crisis. In detail, we find: (i) Since the 1980s...

Over the past decade, several countries augmented their national tax law by transfer pricing legislations in order to limit opportunities for tax-motivated transfer price distortions and the associated relocation of multnational income from their borders. The aim of this paper is to empirically...

Die innere wie äußere Handlungsfähigkeit der Europäischen Union (EU) hängt immer offensichtlicher davon ab, ob die Rechtsstaatlichkeit in allen Mitgliedstaaten glaubwürdig und robust verteidigt werden kann. Die Alleingänge der ungarischen Ratspräsidentschaft, Angriffe auf die...