We investigate the impact of errors in medium run tax revenue forecasts on the final budget balance. Our analysis is based on fiscal data for...

China’s lending boom to developing countries is morphing into defaults and debt distress. Given the secrecy surrounding China’s loans, also...

KBW 38: The author reveals that despite a shrinking economy in the Corona year 2020, Hamburg and Schleswig-Holstein were spared a major labor...

KBW 37: The present Kiel subsidy report focuses on the analysis of federal financial assistance in 2021 and the extent to which expenditures...

KBW 36: The extremely low interest environment during the 2010s has significantly facilitated the reduction of the gross government...

The paper argues that the monetary policy response to the COVID-19 crisis has been appropriate in terms of the ECB’s primary objective. The...

The Corona pandemic still shapes the economic situation in Germany. A complete normalisation of contact-intensive activities is not to be...

In their spring report, the leading economic research institutes forecast an increase in gross domestic product of 3.7 percent in the current...

Die wirtschaftlichen Folgen der COVID-19-Pandemie führen nach aktuellen Erwartungen zu der schwersten Rezession in der deutschen...

Kiel Policy Brief No. 148: In an economy-wide emergency, effective macroeconomic stabilization requires a mecha-nism to protect sound...

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in...

Kiel Policy Brief No. 136: The history of joint European bond issuance has been largely forgotten. The authors show that bonds issued and...

KBW 24: According to a recent German-French proposal, a financial market transaction tax (FTT) at a rate of 0.2% on the purchase of securities...

KBW 30: The authors note that, although public budgets showed significant surpluses before the Corona crisis, both revenues and expenditures...

The corona pandemic leaves substantial marks in the German economy and its impact is more persistent than assumed in spring.

KBW 29: The new Kiel Subsidy Report analyses the financial aid provided by the federal government (including ancillary budgets) and the tax...

We use a dynamic trade model with two sectors and two types of workers to analyze the optimal setting of income-generating tariffs. This...

On 3 June 2020, the grand coalition put together a "stimulus package" and a "package for the future" worth 170 billion euros to combat the...