This paper describes the institutional changes that have induced a decline in the vertical fiscal imbalance (VFI) - defined as the share of sub-national own spending not financed through own revenues - in four European countries: Belgium, Italy, Norway, and Spain. The decline in VFI was achieved...

Norway’s near-term macroeconomic priority is to reduce risks arising from high-household debt by tightening macroprudential standards for mortgage lending while undertaking tax reforms to gradually reduce incentives for excessive leverage. Creating a stronger institutional framework for...

"The management approach of management by objectives (MBO) is currently experiencing a renaissance in European labour market policy. This paper first recapitulates key conceptional principles of the management by objectives model and stresses the relevance of the moral hazard problem. Then there...

Die Investitionsbefragung ergab, daß die westdeutsche Gaswirtschaft 1992 6,4 Mrd. DM investiert hat. Das waren fast 50% mehr als ein Jahr zuvor. In den neuen Bundesländern wurden die Investitionen der Gasversorgung um ein Drittel auf 2,6 Mrd. DM gesteigert. Den Planangaben zufolge dürfte 1993...

1989 nahm der gesamte Gasverbrauch (inklusive Eigenverbrauch) in der Bundesrepublik Deutschland um rund 8% auf reichlich 82 Mrd.m3 zu. Für die öffentliche Gaswirtschaft bedeutet das eine Zunahme der Gasabgabe um fast 5% auf rund 64 Mrd.m3. Am Zuwachs von 3 Mrd.m3 waren zu fast gleichen Teilen...

"The management approach of management by objectives (MBO) is currently experiencing a renaissance in European labour market policy. This paper first recapitulates key conceptional principles of the management by objectives model and stresses the relevance of the moral hazard problem. Then there...