Over the last decade, the Eurosystem has become one of the crucial players in the market for euro area government bonds. After first substantive purchases through the Securities Market Programme (SMP) in 2010,…
Im #ZEWPodcast „Wirtschaft · Forschung · Debatten“ beleuchtet ZEW-Ökonom Prof. Friedrich Heinemann die Erwartungen an Deutschland als guten europäischen Moderator und betont, dass ein solcher „nicht zu jeder…
What are the effects of austerity on distributional policy? We exploit the autonomy of Italian municipalities in setting non-linear income taxes and the exogenous introduction of a fiscal rule to show that…
Who benefits from the evasion of value added taxes (VAT)? Using a reform that enforced VAT on previously non-compliant large retailers in Armenia, we estimate a onethird passthrough of the tax burden on prices.…
In a joint initiative, the political leaders of France and Germany have proposed to set up a EUR 500 billion fund to support the recovery of the EU economy from the COVID-19 recession. The…
