The paper examines the fiscal impacts, and the associated welfare cost, of marginal reforms to work-related tax relief in five European countries. We combine a theoretical model of labour supply with micro-simulation results from an EU-wide model, which allows us to capture the interaction...

Work-related tax incentives can have a significant effect on how much, if at all, certain individuals decide to work. This paper examines the fiscal impacts and associated welfare costs of reforms to such tax relief measures in five European countries, France, Spain, the United Kingdom, Hungary...

This paper presents new evidence on the impact of the preferential treatment of owner-occupied housing in Europe. We find that tax benefits to homeowners reduce the user cost of housing capital by almost 40 percent compared to the efficient level under neutral taxation. On average, the tax...

We examine the resilience of green bonds to the COVID-19 shock through the lens of institutional investors’ holdings. We show that, during the pandemic outbreak, green bonds experienced lower net sales, on average, than equivalent conventional bonds, while no significant differences emerge...

This report conducts a first stocktake of finance for green investment in Europe. It puts forward some conceptual lines to build a monitoring framework for green finance. It also proposes a dashboard of indicators to measure real economy outcomes and financial outcomes, and provides a first...

The report 'Tax reforms in EU Member States' serves four main purposes. Firstly, it reviews the most important tax reforms recently implemented in EU Member States. Secondly, it discusses a number of challenges relating to tax policy that may affect macroeconomic performance, in terms of growth,...

A country's tax system affects its government revenues but also has broader economic and societal implications. The question how to effectively address these different dimensions is at the fore of policy discussions in the EU and its Member States. Carefully designed tax systems can help...

Tax reforms in EU Member States to improve the effectiveness and efficiency of tax systems can contribute to the stability of public finances; boost economic growth, employment and competitiveness; and improve social fairness. Applying an indicator-based approach, this report identifies the tax...