Notes on macro policy debates

Philipp Heimberger
Data and arguments related to political economy and economic policy in Europe and beyond.
Created 25 Feb 2021
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  • Do higher public debt levels undermine growth?
    22 Nov 2021 • 3 min read • 1 0
    I have recently published a new empirical study on whether higher public debt levels reduce economic growth. The French magazine Atlantico asked me to do an interview about the main results of my stud...
  • Corporate tax cuts won't boost growth
    16 Aug 2021 • 1 min read
    In its program for the German federal elections upcoming in September, the liberal party (FDP) calls for corporate tax cuts. The tax burden on companies is to be reduced to 25%. FDP party leader Lindn...
  • German inflation worries and distorted memories of history
    12 May 2021 • 1 min read
    The trauma of hyperinflation from the days of the Weimar Republic casts a long shadow. It still influences Germans' views on inflation and economic policy today. A large proportion of Germans have dis...
  • Keynes, output gap nonsense and the EU’s fiscal rules
    26 Apr 2021 • 6 min read
    Last week on April 21st, there was the 75th anniversary of the death of John Maynard Keynes, one of the 20th century’s most formidable public intellectuals, who made highly influential contributions t...
  • The political fight over a global minimum corporate tax rate
    08 Apr 2021 • 10 min read
    The new Biden administration in the US is planning to increase the statutory corporate tax rate from 21% to 28%. And it is pushing for a global minimum corporate tax rate of 21% calculated on a countr...
  • My interview with La Repubblica about the Campaign Against Italy Nonsense
    07 Apr 2021 • 4 min read
    I did an interview with La Repubblica, one of the leading Italian newspapers, in which I talked about why I launched the Campaign Against Italy Nonsense (#CAIN) on twitter, how Italy is being misrepre...
  • Draghi and austerity champion Italy
    06 Apr 2021 • 1 min read • 3 0
    I wrote a column in Handelsblatt about why Italy’s experiences with fiscal consolidation before the Corona crisis are a cautionary tale for other Eurozone countries. In this post, I will provide a sli...
  • Financial globalisation has increased income inequality
    29 Mar 2021 • 5 min read
    Globalisation is an important driver of income inequality within countries, but mostly via financial rather than trade channels. · Since the 1980s, income inequality has been rising within many advanc...
  • Fiscal austerity and the rise of the Nazis
    22 Mar 2021 • 6 min read • 3 0
    An economic history paper recently published in the Journal of Economic History is a must-read. Under the title “Austerity and the Rise of the Nazi Party”, the authors Galofre-Vila, Meissner, McKee an...
  • European fiscal complacency
    16 Mar 2021 • 3 min read • 1 0
    Yesterday, Martin Sandbu was banging the drum for more fiscal policy action in Europe: “[The] US stimulus package leaves Europe standing in the dust […] This will hasten Europe’s and the UK’s relative...
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