Achieving a balanced monetary-fiscal policy mix in the euro area is crucial to ensure that monetary policy is able to fulfil its primary price stability objective. This paper outlines, from an economic and legal perspective, the interaction between monetary and fiscal policy in light of the current monetary and fiscal stance and, in particular, the “quasi-fiscal” effects of some unconventional monetary ...
While inequality of opportunity (IOp) in earnings is well studied, the literature on IOp in individual net wealth is scarce to non-existent. This is problematic because both theoretical and empirical evidence show that the position in the wealth and income distribution can significantly diverge. We measure ex-ante IOp in net wealth for Germany using data from the Socio-Economic Panel (SOEP). Ex-ante ...
Schnell wachsende Unternehmen schaffen in großem Umfang neue Arbeitsplätze und sind ein wichtiger regionaler Treiber von Wirtschafts- und Produktivitätswachstum. Dieser Bericht untersucht erstmalig, wie die Regulierungsdichte eines Landes und die Qualität der regionalen Verwaltungen, die diese Regulierungen umsetzen, die Entwicklung schnell wachsender Unternehmen in europäischen Regionen beeinflussen. ...
High growth firms (HGFs) are important for job creation and considered to be precursors of economic growth. We investigate how product- and labor-market regulations, as well as the quality of regional governments that implement these regulations, affect HGF development across European regions. Using data from Eurostat, OECD, WEF, and Gothenburg University, we show that both regulatory stringency and ...
Using data from the European Social Survey, we examine income fairness evaluations of 17,605 respondents from 28 countries. Respondents evaluated the fairness of their own incomes as well as the fairness of the incomes of the top and bottom income deciles in their countries. Depicted on a single graph, these income fairness evaluations take on a Z-shaped form, which we call the "inequity Z". The inequity ...
In October 2023, the EU Carbon Border Adjustment Mechanism (CBAM), a part of the reform of the European Emissions Trading System (EU ETS), will come into effect. Currently, energy-intensive industries do not need to purchase all of the necessary EU ETS allowances on the market to remain globally competitive, as the remaining allowances are freely allocated to them. The CBAM plans to gradually replace ...
