We present a simple model, illustrating how democracy may improve the quality of the economic institutions. The model further suggests that institutional quality varies more across autocracies than across…
Constructing measures of post-tax income inequality that are consistent with national accounts requires the allocation of the entirety of government expenditure to individuals. About half of government…
The majority of countries around the world provide tax incentives for business philanthropy. However, little is known about the responsiveness of businesses to this tax treatment. This paper expands on this…
This policy report studies the effects of a sudden stop of natural gas imports from Russia on the German economy. The analysis focuses on the supply-side effects that arise when a gas shortage affects production…
How does fiscal austerity affect redistributive policies? We document that during austerity episodes, countries tend to increase marginal income tax rates on top earners, but not on average earners. We then show…
The ECB is about to discontinue its net asset purchases. In December 2021, the ECB Council had already decided to end net purchases under the Pandemic Emergency Purchase Programme (PEPP) by the end of March…
We contribute to the literature on how program design affects program performance among vulnerable groups by studying the effects of varying the subsidy level and program procedures in an energy efficiency…
Routine-intensive occupations have been declining in many countries, but how does this affect individual workers’ careers if this decline is particularly severe in their local labor market? This paper uses…
This paper investigates the employment effects of innovation over the business cycle with a large data set of manufacturing firms from 26 European countries from 1998 to 2014. The paper reveals four important…
We analyze an important but little-studied institution for balancing supply risk in the management of procurement operations: performance bonding. By adding the surety as a third party that guarantees…
