During the last few years, Germany?'s fiscal federalism has undergone a process of perpetual reform. On the one hand, the relative tax revenues have decreased due to the economic development, on the other hand, tax receipts that have existed up to now ?? the Corporate Income tax ?? will shortly...

This paper analyses fiscal autonomy in Germany. First, it provides an overview of fiscal autonomy. What is novel in this paper compared to previous studies is the development of a fiscal autonomy coefficient for the states, based on communal data. The basic intention in the empirical part is to...

Important implications of the expected utility hypothesis and risk aversion are that if agents have the same probability belief, then consumption plans in every efficient allocation of resources under uncertainty are comonotone with the aggregate endowment, and if their beliefs are concordant,...