In Germany, the medium-term financial planning (“Mifrifi”) was introduced at the end of the sixties. This study scrutinizes the experience of the German Bund with more than thirty years of financial planning. …
A simple model of yardstick competition between jurisdictions is presented. Governments of jurisdictions face the alternative to choose between an old and a new policy with stochastic payoffs. The new policy…
Before making di±cult decisions, individuals tend to collect information on decision makers in reference groups. With respect to policy innovations in a decentralized public sector, this may give rise to…
Financial markets in Europe become more and more integrated. The persisting fragmentation of financial supervision, however, constitutes a lasting obstacle to integration. The aim of this paper is to assess…
The tax burden on investment or companies is an important factor for the attractiveness of a country or a region. In particular, business location and investment decisions are influenced by the relative tax…
Taxes on the highly skilled are an important cost factor for companies competing internationally for talent. This book provides an international comparison of the effective level of taxes and social security…