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

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

Germany will reintroduce parity funding of the statutory health insurance scheme in 2019 by lowering the contribution rates for...

Recent theoretical literature studies how labor market reforms in one country can affect labor market outcomes in other countries,...

This paper analyzes Germany’s unusual labor market experience during the Great Recession. We estimate a general equilibrium model with...

The paper deals with the issue in how far the fiscal policy of the German Laender can be considered as sustainable. Comparing the...

Over 300 government members have had the main responsibility for international development cooperation in 23 member countries of the...

Most studies on the relationship between public debt and economic growth implicitly assume homogeneous debt effects across their...

Sovereign debt restructurings can be implemented preemptively—prior to a payment default. We code a comprehensive new data set and...

This paper studies the effects of ECB communications about unconventional monetary policy operations on the perceived sovereign risk...

Since the announcement of the outright monetary transactions program (OMT), government bond yield spreads have decreased substantially...

The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief – over 50% of...

We analyse domestic and cross-border effects of fiscal policy in a two-region business cycle model of a monetary union. Without...

In the Great Recession most OECD countries used short-time work (publicly subsidized working time reductions) to counteract a steep...

This study examines the effects of greenfield FDI and cross-border mergers and acquisitions (M&As) on government size in host...

We investigate the effects of a Financial Transaction Tax (FTT) in an order-driven artificial financial market. FTTs are meant to...

A main puzzle in the sovereign debt literature is that defaults have only minor effects on subsequent borrowing costs and access to...

The literature has not yet come to a consensus on the actual responses of fiscal policy to output and to past public debt levels...