Main topics
  1. The Swiss debt break, its properties and its potential role in the European Union's growth and stability pact.
  2. German unification and its fiscal consequences


Switzerland, Germany, and EU :

  1. The current implementation of the Swiss debt brake can hardly be improved. Read more »:
  2. The Swiss debt brake does not live up to its ambitions. There is a trade-off between zero GDP-debt-ratio (objective #1) and counter cyclical policy (objective #2). Read more »
  3. The Swiss debt brake could be applied in Germany because it meets the (less ambitious) EU objectives! Expert report to the German Green party's parliamentary representation: Read more »
  4. The Swiss experiences have been heard at an experts' hearing of the German parliaments on the reform of the German federalism II (June 22, 2007):
    1. Commision papers
    2. Report to the commission on the occasion of the expert hearing: My expert responses to the list of questions by the parliament
    3. Hearing of experts before the commission: Video download link, statement (transcript), discussion (transcript).
  5. Expert hearing at the parliament of North Rhein-Westfalia (14 February, 2008). Follow these links for more details and document downloads: Overview (64th meeting), commission's catalogue of questions, my response statement.
  6. Hearing of the German parliaments on the reform of the German federalism II (May 04, 2009). See my expert statement and the protocol .
  7. Expert consultation by the Parliament of Hessia, 19 October 2010. Read why it would pay to be patient and why regional business cycles should be taken into account, and see the collection of reports.
  8. Cause-effect analysis of Swiss cantonal debt brakes: what makes them work? Summary of two Master theses now published as a joint paper as KOF Analysen, 2017(4) (update follows).
  9. Fiscal multipliers: if we only knew their properties! Leeper et al. claim to have cleared up the «fiscal multiplier morass». Have they? This critical comment argues otherwise.


  1. The intra-German fiscal transfer system is not working! It provides the wrong incentives in East AND West Germany and thus perpetuates the need for transfers until...? Read more »