Bildung einer Fiskalunion: Ein wirkungsvolles Instrument zur Stabilisierung der Eurozone?

Im Juni 2015 legten Jean-Claude Juncker, Donald Tusk, Jeroen Dijsselbloem, Mario Draghi und Martin Schulz Vorschläge zur »langfristigen Stärkung der Währungsunion« vor. Sie sehen unter anderem auch die Einsetzung eines beratenden Europäischen Fiskalausschusses vor, der die Arbeit der nationalen Räte für Finanzpolitik koordinieren soll. Kann das ein wirkungsvolles Instrument zur Stabilisierung der Eurozone sein? Nach Ansicht von Charles B. Blankart, Humboldt-Universität zu Berlin und Universität Luzern, hat sich die Europäische Union seit etwa 1992 grundlegend verändert. Während sie bis dahin dem zweiseitigen Handel, einem privaten Gut diente, stehe seither der Euro als ein öffentliches Gut im Vordergrund. Blankart sieht in den Zielen der Vorschläge die bekannten »Öffentlichen-Gut-Probleme« des Euro. Die Vorleistungen des einen bewirken nicht automatisch Gegenleistungen des anderen. Das Freifahrerverhalten wird nicht beseitigt. Katharina Gnath, Bertelsmann Stiftung, und Jörg Haas, Jacques Delors Institut – Berlin, argumentieren, dass eine Fiskalunion nur dann stabilisieren kann, wenn sie sowohl glaubwürdige Haushaltsregeln als auch Elemente der Teilung von Risiko umfasst. Sie sei ein wichtiges Mittel zur wirksamen Stärkung der Eurozone, dürfe aber nicht das einzige bleiben. Thiess Büttner, Universität Erlangen-Nürnberg, ist der Ansicht, dass der Vorschlag kaum geeignet sei, die Europäische Währungsunion durchgreifend zu stabilisieren. Je nach der Ausgestaltung könnte er sich sogar als kontraproduktiv erweisen. Frank Westermann, Universität Osnabrück, sieht Parallelen in der jüngsten Entwicklung der Europäischen Währungsunion zu derjenigen Ostdeutschlands nach der Wiedervereinigung. Die reale Lohnentwicklung eile der Produktivität voraus, und es entwickle sich ein Transfersystem, das einen Aufschub notwendiger Arbeitsmarktreformen ermögliche. Eine langfristig expansive Fiskalpolitik, die in einer Fiskalunion ins­titutionalisiert würde, könne nur kurzfristig die Nachf

Development of a new generation of optical slope measuring profiler

A collaboration, including all DOE synchrotron labs, industrial vendors of x-ray optics, and with active participation of the HBZ-BESSY-II optics group has been established to work together on a new slope measuring profiler -- the optical slope measuring system (OSMS). The slope measurement accuracy of the instrument is expected to be<50 nrad for the current and future metrology of x-ray optics for the next generation of light sources. The goals were to solidify a design that meets the needs of mirror specifications and also be affordable; and to create a common specification for fabrication of a multi-functional translation/scanning (MFTS) system for the OSMS. This was accomplished by two collaborative meetings at the ALS (March 26, 2010) and at the APS (May 6, 2010)

Effective Profit Taxation and the Elasticity of the Corporate Income Tax Base: Evidence from German Corporate Tax Return Data

We estimate the elasticity of corporate taxable income with respect to the effective corporate tax rate on the basis of a pseudo-panel constructed from corporate tax return micro data for the period 1998-2001, a period which saw the introduction of a major corporate tax reform in Germany. Endogeneity of the effective tax rate is controlled for by an instrumental variable approach. Our instrument for the observed effective corporate tax rate is the counterfactual effective tax rate a corporation would face in a particular period had there be no endogenous change of corporate profits. This counterfactual is obtained from a detailed microsimulation model of the corporate sector based on tax return micro data. We find a statistically significant and relatively large point estimate of the average tax base elasticity, which implies that a reduction of the statutory corporate tax rate would reduce corporate tax receipts less tha n proportionally due to income shifting activities. We also find some statistically weak evidence for the hypothesis that the tax base elasticity is higher for corporations that may benefit from various forms of tax shields

Financial Leverage and Corporate Taxation: Evidence from German Corporate Tax Return Data

We estimate the impact of effective profit taxation on the financial leverage of corporations on the basis of a pseudo-panel constructed from corporate tax return micro data for the period 1998-2001, a period which saw the introduction of a major corporate tax reform in Germany. The financial leverage is measured by the ratio of long-term debt to total capital. Endogeneity of the effective corporate tax rate is controlled for by an instrumental variable approach. Our instrument for the observed effective tax rate is the counterfactual tax rate a corporation would face in a particular period had there be no endogenous change of its financial structure. This counterfactual is obtained from a detailed microsimulation model of the corporate sector based on tax return micro data. We find a statistically significant and relatively large positive effect of the tax rate on corporate leverage: on average, an increase of the tax rate by 10 percent would increase the financial leverage by about 5 percent. We also find that the debt ratio is less responsive for small corporations and for corporations that benefit from various other forms of tax shields, in particular depreciation allowances and tax loss carry-forward. However, tax effects do not seem to depend on risk, although the level of economic risk does affect corporate leverage

Global Effect of Modifiable Risk Factors on Cardiovascular Disease and Mortality.

BACKGROUND: Five modifiable risk factors are associated with cardiovascular disease and death from any cause. Studies using individual-level data to evaluate the regional and sex-specific prevalence of the risk factors and their effect on these outcomes are lacking. METHODS: We pooled and harmonized individual-level data from 112 cohort studies conducted in 34 countries and 8 geographic regions participating in the Global Cardiovascular Risk Consortium. We examined associations between the risk factors (body-mass index, systolic blood pressure, non-high-density lipoprotein cholesterol, current smoking, and diabetes) and incident cardiovascular disease and death from any cause using Cox regression analyses, stratified according to geographic region, age, and sex. Population-attributable fractions were estimated for the 10-year incidence of cardiovascular disease and 10-year all-cause mortality. RESULTS: Among 1,518,028 participants (54.1% of whom were women) with a median age of 54.4 years, regional variations in the prevalence of the five modifiable risk factors were noted. Incident cardiovascular disease occurred in 80,596 participants during a median follow-up of 7.3 years (maximum, 47.3), and 177,369 participants died during a median follow-up of 8.7 years (maximum, 47.6). For all five risk factors combined, the aggregate global population-attributable fraction of the 10-year incidence of cardiovascular disease was 57.2% (95% confidence interval [CI], 52.4 to 62.1) among women and 52.6% (95% CI, 49.0 to 56.1) among men, and the corresponding values for 10-year all-cause mortality were 22.2% (95% CI, 16.8 to 27.5) and 19.1% (95% CI, 14.6 to 23.6). Harmonized individual-level data from a global cohort showed that 57.2% and 52.6% of cases of incident cardiovascular disease among women and men, respectively, and 22.2% and 19.1% of deaths from any cause among women and men, respectively, may be attributable to five modifiable risk factors. (Funded by the German Center for Cardiovascular Research (DZHK); ClinicalTrials.gov number, NCT05466825.)

Die Stellung der Schwaben zu Goethe / von Frank Thieß

DIE STELLUNG DER SCHWABEN ZU GOETHE / VON FRANK THIESS Die Stellung der Schwaben zu Goethe / von Frank Thieß (1) Einband (1) Titelseite (2) Titelseite (3) Vorwort (5) Einleitung (7) I. Aufklärungszeit. Sturm und Drang. (9) Klassizismus. (49) III. Romantik. (118) IV. Reaktion. Nachromantische Strömungen. (159) V. Zusammenfassender Rückblick und Ausblick. (192) Anhang. (202) Bibliographie. (207) Moritz Rapp und Goethe. (220

Lucie Höflich

LUCIE HÖFLICH Lucie Höflich / Thiess, Frank (Rights reserved - Rights managed by VG Wort (§ 51 VGG)) ( - ) Cover front ( - ) Title page ( - ) 1. ( - ) Abbildung: Lucie Höflich / Schenker, Karl ( - ) Abbildung: Gretchen ( - ) 2. (9) 3. (21) Abbildung: Weib in Schönherrs Weibsteufel ( - ) Abbildung: Gretchen ( - ) 4. (33) Abbildung: Amalie (Die Räuber) ( - ) Abbildung: Liselotte von der Pfalz ( - ) 5. (41) Cover back ( - ) ColorChart ( -

Die Verdammten : Roman

http://www.ester.ee/record=b4263038*es