Das EU Tax Obervatory ist ein unabhängiges Forschungslabor und an der Paris School of Economics angesiedelt ist. Das DIW ist der nationale Kooperationspartner des EU Tax Obervatory. Das EU Tax Obervatory führt innovative Forschung im Bereich der Besteuerung durch, trägt zu einer demokratischen und integrativen Debatte über die Zukunft der Besteuerung bei und fördert den Dialog zwischen der...
Erstmals werden ökonomische Folgen von Heinrich Brünings Austeritätspolitik zwischen 1930 und 1932 quantifiziert – Sparmaßnahmen verursachten einen Einbruch des Bruttoinlandsprodukts von zusätzlich 4,5 Prozent und zusätzliche 3,3 Millionen Arbeitslose – Forderungen nach Austerität als Reaktion auf gestiegene Schuldenstände in Europa sollten vor diesem ...
As the institutional literature convincingly shows, socioeconomic phenomena are to a large extent shaped by the formal institutions, that is, legal acts (laws and ordinances). However, the latter are formulated in a specific language that is difficult to understand, let alone to measure. However, since the early 1990s, a whole branch of economic analysis of governmental regulations has evolved. It is ...
Regulatory bank levies set incentives for banks to reduce leverage. At the same time, corporate income taxation makes funding through debt more attractive. In this paper, we explore how regulatory levies affect bank capital structure, depending on corporate income taxation. Based on bank balance sheet data from 2006 to 2014 for a panel of EU-banks, our analysis yields three main results: The introduction ...
To finance resolution funds, the regulatory toolkit has been expanded in many countries by bank levies. In addition, these levies are often designed to reduce incentives for banks to rely excessively on wholesale funding resulting in high leverage ratios. At the same time, corporate income taxation biases banks’ capital structure towards debt financing in light of the deductibility of interest on debt. ...