There is a lack of synchronization in the expansion of renewable energies and the modernization of the electricity grid infrastructure. Main barriers to grid development are the insufficient regulatory framework, an inefficient allocation of planning and authorization competences and a lack of...

This study identifies commonalities between two historical incidents of debt assumption – in the United States in 1791 and in present-day Europe. By comparing the interests and behaviour of key players in these two incidents, we find three major parallels: First, in their strategic...

The challenging current policy environment has raised the question of which policy decisions should be taken at national level and which at European Union level. As a general rule, the EU should be responsible only for the provision of European public goods (EPGs), while countries are better...

The challenging current policy environment has raised the question of which policy decisions should be taken at national level and which at European Union level. As a general rule, the EU should be responsible only for the provision of European public goods (EPGs), while countries are better...

Banking regulation invites banks to gamble when buying government bonds that regulators consider to be risk-free. The adverse effects on financial stability are known. In turn, this study shows that governments have an incentive to use banking regulation in order to enhance their fiscal...

This paper leverages a novel survey among German senior government officials to investigate fiscal responses to monetary policy shocks. Using randomized vignette treatments, we present officials with scenarios of increased government interest costs and analyze their expected fiscal adjustments....

Können Unternehmen, die von durch die Welthandelsorganisation (WTO) genehmigten Strafzöllen betroffen sind, den entstandenen Schaden gegen die EG und ihre Mitgliedsstaaten einklagen? Zur Beantwortung dieser Frage unternimmt Armin Steinbach einen Vergleich europäischer nationaler...

"This Introduction summarizes the contents and explains the methodology of the book and of its main policy conclusions on how constitutional democracies should respond to the increasing governance failures inside and beyond states. All UN member states have employed constitutional law for...

1. Introduction -- 2. Asymmetric shocks and heterogeneity following the creation of the EMU -- 3. Prerequisites for coordination and options for its design -- 4. Coordination in the EU before the government-debt crisis -- 5. The expansion of coordination in the EU -- 6. Summary.