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. ...
(SUERF Policy Briefs ; 21/2020)
| Franziska Bremus, Kirsten Schmidt, Lena Tonzer
Externe referierte Aufsätze
We examine the effect of local business taxation and local public good and service (PIGS) provision on the number and spatial distribution of new firms. Testing ground is Germany and we rely on the universe of firm foundations between 1998 and 2006. Methodologically, we estimate fixed effects poisson models coupled with a control function approach. The results suggest that a 1%-decrease in the business ...
Regional Science & Urban Economics
83 (2020), 103525, 21 S.
| Nadine Riedel, Martin Simmler, Christian Wittrock
Diskussionspapiere 1881 / 2020
“Sin taxes” are high on the political agenda in the global fight against obesity. Ac- cording to theory, they are welfare improving if consumers with low self-control are at least as price responsive as consumers with high self-control, even in the absence of ex- ternalities. In this paper, we investigate if consumers with low and high self-control react differently to sin tax variation. For identification, ...
2020| Renke Schmacker, Sinne Smed
Economic Bulletin 7 / 1994
The need to realise sustainable economic development, which preserves the basis for human existence, is now widely recognised. Natural resources must be used more economically and the burden on the environment eased. The traditional instruments of environmental policy, in particular the use of regulatory law dominant in Germany, are inadequate for this purpose and induce economic costs which are unnecessarily ...
1994| Stefan Bach, Michael Kohlhaas, Barbara Praetorius
Externe referierte Aufsätze
Background and Aims: While research has focused on outcomes of tobacco control policies, less is known about the mechanisms by which policies may affect tobacco use. We estimated the associations of changes in cigarette taxes and smoke‐free legislation with (1) any household cigarette expenditure and (2) the level of household expenditure on cigarettes, as well as (3) tested interactions with socio‐economic ...
114 (2018), 4, S. 721-729
| Summer Sherburne Hawkins, Melissa Kull, Christopher F. Baum
by Stefan Bach, Hermann Buslei, Michelle Harnisch and Niklas Isaak
The ecological tax reform that Germany implemented between 1999 and 2003 increased energy tax rates—especially on gasoline and diesel. Today, the ecological tax hikes yield an annual revenue of around 20 billion euros or 0.6 percent of GDP. The money is used to finance a higher federal grant to the public pension scheme. Calculations ...
28.03.2019| Stefan Bach, Hermann Buslei
Diskussionspapiere 1845 / 2020
We decompose permanent earnings risk into contributions from hours and wage shocks. To distinguish between hours shocks, modeled as innovations to the marginal disutility of work, and labor supply reactions to wage shocks we formulate a life-cycle model of consumption and labor supply. Both permanent wage and hours shocks are important to explain earnings risk, but wage shocks have greater relevance. ...
2020| Robin Jessen, Johannes König
Vierteljahrshefte zur Wirtschaftsforschung 2 / 2019
Obwohl die Investitionen in erneuerbare Energietechnologien fast überall zunehmen, sind die Chancen die ehrgeizigen Emissions- und Klimaziele zu erreichen, wie sie im Pariser Abkommen vorgesehen sind, noch immer gering. Um den Übergang zu beschleunigen, müssen die politischen Entscheidungsträger einen Policy-Mix entwerfen und umsetzen, der nicht nur das Green Finance Volumen, sondern auch dessen Qualität ...
2019| Francesco Lamperti, Mariana Mazzucato, Andrea Roventini, Gregor Semieniuk
Berlin Lunchtime Meeting
Sarah Perret, OECD, will present findings from a recent report on The Role and Design of Net Wealth Taxes in the OECD. The presentation will give an overview of the cases for and against net wealth taxes, as well as describe how wealth taxes have been designed in practice in the OECD countries that currently have or historically had net wealth taxes. Inheritance taxes, which constitute an...
28.11.2019| Sarah Perret, Stefan Bach
Diskussionspapiere 1821 / 2019
We present evidence on the open economy consequences of US fiscal policy shocks identified through proxy-instrumental variables. Tax shocks and government spending shocks that raise the government budget deficit lead to persistent current account deficits. In particular, the negative response of the current account to exogenous tax reductions through a surge in the demand for imports is among the strongest ...
2019| Mathias Klein, Ludger Linnemann