The recent US tax reform, Tax Cuts and Jobs Act of 2017, lowered the statutory corporate income tax rates and brought other important changes for the taxation of multinational enterprises worldwide. This paper reviews these changes and discusses their effects for effective tax rates and tax...

The recent US tax reform, Tax Cuts and Jobs Act of 2017, lowered the statutory corporate income tax rates and brought other important changes for the taxation of multinational enterprises worldwide. This paper reviews these changes and discusses their effects for effective tax rates and tax...

In this paper, we introduce a special issue of Small Business Economics on Financial and Institutional Reforms for an Entrepreneurial Society in Europe. There are many reasons for Europe to want to make the transition to a more entrepreneurial society. And for decades now, policy makers are...

This paper looks at how the Russian economy has developed under the leadership of Putin and how it spills over to its neighbours in the CIS region. It stresses the importance of international oil prices as a determinant of policies and outcomes in Russia and highlights how this has impacted...

This paper looks at economic growth and its fundamental determinants in Russia over the last decades. It starts by showing that, contrary to the views of some political commentators, growth is highly important for the popularity of president Putin. Furthermore, regular models of growth are...

The euro is irreversible but it needs reform to address well-known design deficiencies and also new challenges. Although progress has been made, further steps are needed, the most important of which are: revision of the fiscal rules, establishing a central stabilisation capacity, and completing...

The historic decision at the Euro Summit on July 12, 2015, to continue supporting Greece as a member of the EU and the euro family, provided Greece the chance to return to growth and sustainability, provided it takes the necessary steps to continue with its reforms. Jointly the Greek government...

Die historische Entscheidung für Griechenlands Verbleib in der Eurozone und der Europäischen Union auf dem Eurogipfel am 12. Juli 2015 hat Griechenland die Chance eröffnet, wieder zu Wachstum und Nachhaltigkeit zurückzukehren. Dies setzt allerdings voraus, dass es die notwendigen Schritte...

The European Union's Green Deal, a €1 trillion, 10-year investment plan to reduce greenhouse gas emissions by 55% in 2030 (relative to 1990 levels), has been hailed as the first comprehensive plan to achieve climate neutrality at a continental scale. The Deal also constitutes the Union's new...

Successful stabilization policy not only needs effective instruments and reliable indicators but also an usable theoretical framework. This paper looks for an as-simple-as-possible presentation that combines useful concepts for stabilization policy in a graphical presentation. As all variables...