In this study, I will look at the spending role of government and the outcomes of government activity in Europe and Asia. Public spending and performance patterns differ hugely across countries. Asian "tigers" and some advanced countries show low public spending coupled with strong performance...

Given high government spending, debt and the new challenges on the horizon, the themes of this work are more relevant than ever: the essential tool of spending by the state, its 'value for money', likely risks in the future, and the remedies to create lean, efficient and sustainable government....

This study argues that insurance is a much more pervasive motive of government activity than is commonly thought; one associated with great benefits but also great risks. From the start of public social insurance in the late 19th century, social insurance has come a long way to "all-inclusive"...

The paper analyses the linkages from financial developments to public finances. It maps and discusses the transmission channels to fiscal variables. These channels include asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international linkages. The...

Deutschland hat die Covid-19-Krise bisher recht gut gemeistert. Viele rufen nun nach mehr Staat, mehr staatlichen Ausgaben und mehr Interventionen. Dies ist jedoch keine Lösung. Wir brauchen eine marktfreundliche Ordnungspolitik mit besserer Regulierung und einem effizienteren Steuersystem zur...

The paper analyses the linkages from financial developments to public finances. It maps and discusses the transmission channels to fiscal variables. These channels include asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international linkages. The...