In February 2020, the European Commission announced that it would present a plan for reforming the economic governance of the Eurozone, including the rules for public debt. The project was postponed by the outbreak of the corona pandemic, but now the reform is to come. There is a widespread...

Although the literature has extensively discussed the issue of corporation residence, it has paid little attention to the terms of reference of the debate. A typical argument will take the following form: the law should adopt Definition D as appropriate because it closely conforms to Principle...

We examine fiscal adjustment episodes in 24 OECD countries in order to find how austerity affects debt and growth, and whether the choice of fiscal instrument matters for the results. Influential existing studies argue that spending cuts are more likely to successfully reduce debt and enhance...

A number of institutional and non-institutional factors, not only economically rational but also political and historical, have risen in the long after war debate about the public sector's expansion, size and structure. Obvious inefficiencies, mounting resistance to further increases of tax...

This paper provides a set of detailed estimated fiscal reaction functions for a panel of twenty industrialized countries, and it discusses commonalities and differences with regard to systematic fiscal policies across countries. In general, the countries in the panel adjust tax revenues strongly...

This paper analyzes the Final Report of the President's National Commission on Fiscal Responsibility and Reform and compares the recommendations to those of The Debt Reduction Task Force of the Bipartisan Policy Center

Measures targeted at the revenue side of the budget can contribute between €10 and €28 billion to the consolidation of public finances in Austria. This total amount could be reached without harming the economy via an increase of excise taxes, an enhanced taxation of wealth and the abolition...

Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as the single most important correlate of the subsequent Leave vote in the 2016 European Union (EU) referendum, along with broader measures of political dissatisfaction, are...

Identifying fiscal multipliers is usually constrained by the absence of a counterfactual scenario. Our new data set allows overcoming this problem by making use of the fact that recommendations under the EU's excessive deficit procedure (EDP) provide both a baseline no-policy-change scenario and...