Deutsch (DE-CH-AT)


Frankfurt - a Brexit-Winner? In some fields, London will remain globally dominant, e.g. in asset management. Traditional banking business is going to be distributed more evenly among the European competitor-cities Paris, Dublin, and Frankfurt, Michael Thöne expects in an interview with BBC Brasil.

Eckwerte des Bundeshaushalts 2018. Michael Thöne erläutert und kommentiert die Vorstellung der Eckwerte des Bundeshaushalts 2018 und des Finanzplans bis 2021 auf Phoenix.

Dahin geht die Steuer, Mann! Die beispiellos hohe Subventionierung der deutschen Seeschifffahrt kann nur mit ihrem Wohlfühl-Charakter erklärt werden, erläutert Michael Thöne in der ZEIT. Wirtschaftlich und menschlich ist es aber unverantwortlich, junge Menschen in Berufe zu locken, die sie zum lebenslangen Subventionsbezug verdammen.

Zero deficit is not sustainable… enough. In a Berlin lecture , Michael Thöne argues for the different strategies of sustainability no longer to be played played off against one another. Sustainable public finances, smart future investments and the Sustainable Development Goals must be brought together and implemented with a stronger performance-oriented budgeting.

Stellenausschreibung - FiFo sucht studentische Hilfskräfte. Das Finanzwissenschaftliche Forschungsinstitut sucht personelle Unterstützung für das Forschungsteam. Die Stellenausschreibung finden Sie hier.

Increasing the investment capacity of our municipalities. In the North Rhine-Westphalian State Parliament, Michael Thöne outlines necessary steps to overcome the investment crisis of NRW-municipalities.

Much ado about little reform. The "elimination" of the German regional equalization system is clever image management and little else, Michael Thöne notes in the ifo Schnelldienst . The real changes come with the increases in centralization.

Fair and balanced funding of refugee policy. Caroline Antonia Hummel and Michael Thöne summarize the recommendations from their research in the recent Loccumer Protokoll 14/16 .

Dieter Ewringmann - The Permanent Consultant. With a long portrait, the leading daily newspaper of the Grand Duchy, the Luxemburger Wort, acknowledges Dieter Ewringmann’s prominent role in the development of the environmental and tax policy of the country.

Adjustments in financing of refugee policy overdue. One year after the culmination of the refugee crisis, the temporary solutions of that time need to be reviewed and revised, Michael Thöne states in the title story of the large German newspaper “Die Welt”.

The Zero Interest Rate Policy of the ECB. Klaus Mackscheidt asks in the new FiFo Discussion Paper whether an end of the zero interest rates is foreseeable and suggests to deepen fiscal equalization on the European level instead.

„Achilles heel Executive federalism“: With his presentation at the GfP annual meeting, Michael Thöne shows that the German model of vertical dispersion of political responsibilities has reached its limits with the refugee crisis.

New Book “The Future of EU-Finances“ available. Edited by Thiess Buettner and Michael Thöne, a collection of scholarly papers is published in paperback and as an e-book by Mohr Siebeck.

Subsidies for maritime shipping without end. A few more German-flagged ships are payed for dearly with high and permanent subsidies, states Michael Thöne in the Heute Journal-news.

NRW-Solidaritätsumlage verfassungskonform. Der nordrhein-westfälische Verfassungsgerichtshof weist die Beschwerde einnahmenstarker Städte und Gemeinden zurück. Unter anderem auf der Grundlage aktueller FiFo-Forschung macht das Gericht deutlich, dass das Instrument gewiss nicht makellos ist – aber deswegen noch lange nicht verfassungswidrig.

Before the election, think about post-election. In 2017, a new federal Government should be capable to reform taxation significantly. For that, it needs off-setting cuts in subsidies. A new FiFo-Memorandum finds 11 billion Euros alone in tax expenditures.

The federal government could manage the flow of funds much better. In an interview with the Handelsblatt, Michael Thöne explains potential paths to a more consistent distribution of refugee expenses.

Vertical financial relations are constantly controversial. In the new FiFo Report 23 , Léa Lamouroux and Michael Thöne examine the symmetry of the financial distribution between the Land of Schleswig-Holstein and its municipalities.

Warum wird der Solidaritätszuschlag nicht abgeschafft? Warum das eine Frage des politischen Instinkts ist, erläutert Michael Thöne in der Deutschlands größter Wirtschaftszeitung AKTIV.

European Federalism after the Brexit. At the FiFo-OECD Seminar on Comparative Fiscal Federalism, Michael Thöne uses the Spanish-German example to highlight the importance a consistent debate on public responsibilities and finances across the governmental levels for the future development of the EU.

18 Milliarden Steuersubvention weg - Nicht wieder Nettigkeiten zuerst! Nach dem Brexit weht ein rauerer Wind – Michael Thöne listet in der WELT am Sonntag die Steuervergünstigungen auf, die nach der Bundestagswahl 2017 gestrichen werden sollten. Spiegel und Focus online berichten.

"Marginal tax rates for the middle class are somewhat nasty." The German income tax schedule needs to be redesigned, but such a reform must be refinanced within the tax system, Michael Thöne points out in the daily newspaper Die Welt.

What are the fiscal outlays for the refugee policy? Still, the information on the expenses on local accommodation and integration of refugees is totally unsatisfactory, Michael Thöne states in the ZEIT (print edition) and calls for a nationwide database.

From today's perspective many look bizarre. In an interview with the Kölner Stadtanzeiger , Michael Thöne explains how many of the German VAT-reductions were made and if we are ever going to get rid of them.

Countless VAT-reductions are unjustified. A restriction to the socially meaningful is overdue, but typically the temptation to use reductions for favouritism is higher, Michael Thöne explains in the daily “Die WELT”.


Already Generous subsidies for maritime shipping are further increased massively  and Threaten to attract young people to jobs without a future perspective, explains Michael Thöne in "Plusminus" (ARD) and, more detailed, in a parliamentary hearing .

Make fiscal provisions for recognized refugees! After recognition, the municipalities cover a larger share of financial and in-kind assistance to refugees. This could be managed more efficiently it the federal level was enabled to finances local communities directly, Michael Thöne explains in an interview with the WDR-magazine "Politikum".

Refugee costs - who pays whom how much? In the run-up to further discussions between the federal government, the German Länder and the municipalities Michael Thöne tries to bring some light into the federal imbroglio in the daily Rheinische Post.

Demographic aging affects healthcare expenditures substantially. Against the Swiss background, FiFo Policy Fellow Carsten Colombier shows that the recently strongly contested view that the population aging will threaten the financing of health systems is correct and what that means for fiscal sustainability (FiFo Discussion Paper 16-3).

Refugee policy, inheritance tax and the European debt crisis. With the FiFo Discussion Papers 16-1 and 16-2 Klaus Mackscheidt provides a concise panorama of current fiscal policy issues.


Fiscal equalization needs an education dimension: Education spending of German Länder transfers funds from East to West. A modern fiscal equalization should reflect these fiscal needs, Michael Thöne states in the daily WELT.


German fiscal equalization should learn from Spain. And the Spanish system from Germany. Angel de la Fuente, Christian Kastrop and Michael Thöne show that the pending reforms of fiscal federalism in both countries would benefit strongly from the outside view .

Ausgewogene Finanzierung der Flüchtlingspolitik: Nicht die Gesamtsumme, sondern die richtige Verteilung der Flüchtlingsmittel auf Bund, Länder und Kommunen ist die größte Herausforderung, stellt das FiFo-Gutachten für die Robert Bosch Expertenkommission fest. Die ZEIT, FAZ, SZ, WDR, WELT, Spiegel online und viele weitere berichten.

Sustainability gaps remain stable despite fiscal consolidation. In parallel to the German Federal Government’s new report on fiscal sustainability, FiFo Policy-Fellow Martin Werding presents the underlying calculations in FiFo-Report No 20.

FiFo-FAU-symposium "The future of EU finances" a great success. With the main speaker Wolfgang Schäuble, with Mario Monti and Kristalina Georgieva on the podium, and with four other finance ministers onboard the Brussels symposium successfully disseminated the results of a research team led by Thiess Buettner and Michael Thöne among the addressees. See the report and the pictures.


The Future of EU Finances. The symposium volume with all working papers from the joint FiFo-FAU research project is online now.


Reeder-Subventionen nicht ungeprüft vervielfältigen. Für die Erhöhung des „Lohnsteuer-Einbehalts“ von 40% auf 100% mahnt Michael Thöne im Bundestag die Einhaltung der Subventions-Leitlinien der Bundesregierung an. Hier seine Stellungnahme . Die FAZ berichtet.

Public investments tested empirically. Which government activities have proven positive future effects? A new survey by Michael Thöne and Frederic Krehl throws light on growth and sustainability effects of public spending

Solidarity 4.0 instead of Solidarpakt III: Instead of continuing the subsidization of the German East, all German Länder need a future-oriented financing, which closely aligns with their actual state tasks and needs, Michael Thöne argues in Ifo Schnelldienst.

We need a new intergenerational pact. How do we safeguard public investments against the overwhelming dominance of present consumption in an ageing society? Generational mainstreaming may show a path out of this predicament, argues Michael Thöne in a new anthology of the Böll Foundation; ZEIT ONLINE has a short version of his contribution.

1.5 billion VW-tax loss – finely dispersed. The fiscal revenue loss from Volkswagen's "Diesel Gate" will be shared widely among federal, state and local authorities, Michael Thöne explains in the cover story of today’s Handelsblatt (print edition).

Health Care Spending in Switzerland: Female Parliamentarians count, debt brakes not. Remarkable new insights into the driver of Swiss health care spending provide FiFo Policy Fellow Carsten Colombier and co-author Thomas Brandle with new dynamic panel data analysis (FiFo Discussion Paper 15-2)

With the debt brake in force, Germany can take the innovative route to a more conventional federalism, Michael Thöne concludes in his chapter in the new book „Principles and Practices of Fiscal Autonomy“.

North Rhine-Westphalia needs a modernization of budget policy. At the hearing the Budget Law 2016 Michael Thöne recommends to use more up-to-date budgeting instruments, especially spending reviews. Watch the video (in German).

Constitutional amendment for refugee assistance. In a Handelsblatt op-ed, Michael Thöne recommends to open direct access to federal assistance for municipalities. A longer version of the article can be found here .

German Subsidy Report –sustainability impact assessment and compulsory evaluations. Effective policy advice: With its 25th Subsidy Report, the Federal Government submits all subsidies to a short SIA. Furthermore, the Government’s subsidy guidelines now formulate an obligation to evaluate the cost-effectiveness and transparency of all subsidies on a regular basis. Both innovations have been prepared by FiFo Köln.


Overcoming the deadlock in German fiscal equalization. The old system of VAT-pre-equalization has no future, but no successor as well. In his new Ökonomenstimme-post, Michael Thöne proposes a modernized horizontal tax allocation that can serve as a compromise to overcome the political deadlock. (FiFo Discussion Paper .)


Local finances in a Prussian-Bavarian double: As different as Brandenburg and Bavaria may be, one thing unites them: When it comes to employing expertise on municipal finances, only the best is good enough. Simultaneously, FiFo Reports 18 and 19 on Brandenburg‘s and Bavaria‘s systems of municipal revenue equalization are published.

Düsseldorf hat ein Ausgabenproblem. In der Rheinischen Post erläutert Michael Thöne, warum wohlhabende Städte wie Düsseldorf häufig größere Probleme mit dem Sparen haben als ärmere.

Projektmitarbeiterin / -mitarbeiter für UrbanRural Solutions gesucht. In der Kämmerei der Stadt Köln ist eine Stelle im Forschungsverbund mit FiFo Köln und anderen Partner zu besetzen. Gern weisen wir auf das Stellenangebot der Stadt hin. (Frist: 26.06.2015).

(Hauptsächlich) gutes Zeugnis für den kommunalen Finanzausgleich in Brandenburg. Das aktuelle FiFo-Gutachten wird heute dem Kabinett vorgestellt. Die Untersuchung bestätigt die gegenwärtige Austarierung der kommunalen Finanzierung, verweist aber auch auf künftige Handlungsfelder und zeigt unmittelbare Gestaltungsalternativen im Jugendlastenausgleich.

NRW-Landesfinanzen im Jahr 2020. In seiner Stellungnahme für die Tragfähigkeits-Enquete benennt Michael Thöne die Handlungsfelder und die Haushaltsrisiken für Nordrhein-Westfalen. Jetzt online.

Auswirkungen der demografischen Entwicklung in Nordrhein-Westfalen auf den Landeshaushalt. Das 2011er Gutachten von FiFo Köln und Martin Werding jetzt online.

Kriterien für ein gutes Steuersystem: Senior Research Consultant Dr. Dieter Ewringmann und Eva Gerhards aus dem Forschungsteam veröffentlichen einen Artikel „Finanzwissenschaftliche Kriterien für ein gutes Steuersystem und ein Blick auf Luxemburg“ im Sozialalmanach 2015 der L’annuiaire Caritas sur la situation sociale du Luxembourg.

Ausgabenkontrolle im Tailändisch-Deutschen Länderaustausch: Felix Bierbrauer und Michael Thöne diskutieren die Modernisierung der Haushaltspolitik und Ausgabenkontrolle mit einer hochrangigen Delegation der thailändische Regierung und des königlichen Rechnungshofs an der Universität zu Köln.

Schuldenbremse in die NRW-Verfassung. In einer Anhörung der Verfassungskommission des nordrhein-westfälischen Landtags erläutert Michael Thöne zentrale Gestaltungsfragen für eine NRW-Schuldenbremse. Zur schriftlichen Stellungnahme und zum Livestream.


Frist 20.02.2015: Stellenausschreibung - FiFo sucht Forscherinnen/Forscher. Das Finanzwissenschaftliche Forschungsinstitut sucht Verstärkung für Forschung und Politikberatung. Die Stellenausschreibung finden Sie auf INOMICS.

Task Force Kommunale Sozialausgaben – FiFo Vorschlag im NRW-Landtag. Vor einem Jahr hat das FiFo vorgeschlagen, zu Bewältigung der vielen offenen Fragen um die kommunalen Sozialausgaben transdisziplinäre Task Forces in den Ländern einzurichten. Jetzt diskutiert der Landtag in Düsseldorf einen entsprechenden Antrag. Im Ausschuss für Kommunalpolitik stellt Michael Thöne das Modell vor.

Mehr Investitionen trotz Schuldenbremse und LFA-Reform? Mit seinem Vortrag im  Investitionsworkshop des Thüringer Wirtschafts- und Wissenschaftsministeriums lotet FiFo-Geschäftsführer Michael Thöne die Kompatibilität dieser drei Zukunftspflichten aus.

Größenvorteile realisieren. FiFo-Geschäftsführer Michael Thöne  fragt in der Rheinischen Post, ob Nordrhein-Westfalen alle potenziellen Kostenvorteile aus seiner Größe auch realisiert.

Haushaltsmodernisierung in NRW vorantreiben. Angesichts der langfristigen Risiken für die nordrhein-westfälische Finanzpolitik muss das Land die konsequente Modernisierung des Budgets vorantreiben, empfiehlt FiFo-Geschäftsführer Michael Thöne bei der grünen LAG Finanzen in Düsseldorf. Die Rheinische Post berichtet.

Steuerregionalisierung und Finanzausgleich: FiFo-Geschäftsführer Michael Thöne stellt in der vbw München ein neues FiFo-Konzept vor, mit dem mehr Steuerrechte für arme und für reiche Bundesländer attraktiv werden. Die Studie. Der Vortrag. Die FAZ berichtet.

Der Herner Vorschlag für eine „Steueroase Ruhrgebiet“: FiFo-Geschäftsführer Michael Thöne erläutert im WDR-Fernsehen das Dilemma der fiskalisch benötigten, standortpolitisch fatalen hohen Gewerbesteuer-Hebesätze.

Steuerwettbewerb zwischen den Bundesländern? "Es gibt kein einziges föderales Land auf der Erde, in dem Gliedstaaten so wenig Steuerautonomie haben wie in Deutschland", sagt der FiFo-Geschäftsführer Michael Thöne Michael Thöne in der Welt am Sonntag.

Kaskadierende Marginalisierung der Bundesländer? FiFo-Geschäftsführer Michael Thöne argumentiert in einem aktuellen Aufsatz, dass eine Finanzausgleichsreform ohne Blick auf die Aufgabenverteilung den Ländern strukturell sehr schaden kann.

Stellenausschreibung - FiFo sucht studentische Hilfskraft. Das Finanzwissenschaftliche Forschungsinstitut sucht personelle Unterstützung für das Forschungsteam. Die Stellenausschreibung finden Sie hier.

Stärkung der kommunalen Selbstverwaltung führt zu mehr finanzieller Solidität. Michael Thönes Beitrag zum DIHK-Jahresthema „Gutes sichern – Neues wagen“.

Kommunale Finanzkrise – hausgemacht oder fremdverschuldet? Die Frage stellt FiFo-Geschäftsführer Michael Thöne beim Eröffnungssymposium des neuen „Arbeitskreises Kommunalfinanzen an der Universität Osnabrück“ im dortigen European Legal Studies Institute.

Expenditure on staff is a “must-go-zone”. The uneven salary adjustment for the state’s civil servants causes heated debate in North Rhine-Westphalia. In WDR television, FiFo Managing Director Michael Thöne explains that fiscal sustainability for NRW cannot be reached without cuts in personnel expenses.

Let us tackle the debt brake for North Rhine-Westphalia now. In a parliament hearing, FiFo Managing Director Michael Thöne explains the internal and external benefits of a binding financial planning on the way to balancing the state budget in 2020.

Soccer luck and city finances: How much professional football can a cash-strapped municipality afford? FiFo Managing Director Michael Thöne in conversation with Max von Malotki (WDR).

Will debt brakes and the Fiscal Compact work on the regional level? In a comparative workshop on Italy, Spain and Germany, FiFo Managing Director Michael Thöne gives an impression of German Länders’ fiscal perspectives before and after 2020.

Working Paper: Im IWF Working Paper Nr. 14/64 untersuchen FiFo-Mitarbeiterin Caroline Goerl und Mike Seiferling den möglichen Zusammenhang zwischen der Einkommensverteilung eines Landes und dem Grad seiner fiskalischen Dezentralisierung.

Higher taxes on painted Easter eggs. In the WELT, FiFo Managing Director Michael Thöne explains the (political) sense and nonsense of reduced VAT rates.

Wie kann es Kommunen gelingen, Nachhaltigkeit sowohl in Hinblick auf ihre Finanzplanung als auch auf ihre Infrastruktur zu erreichen? Erste Antworten dazu liefert die Vorstudie „Generationengerecht und handlungsfähig bei leistungsfähiger Infrastruktur“, die das Deutsche Institut für Urbanistik (difu) gemeinsam mit dem FiFo im Auftrag der Stadt Köln durchgeführt hat.

Ankündigung - NRW im Gespräch: Finanzminister Norbert Walter-Borjans und der Berliner Finanzsenator Ulrich Nußbaum diskutieren mit FiFo-Geschäftsführer Michael Thöne und Henning Tappe (Uni Osnabrück) in der NRW-Landesvertretung Berlin die Zukunft des Länderfinanzausgleichs. Melden Sie sich an.

Schwerpunkte kommunaler Ausgabenlasten im Ländervergleich. Mit dem Blick aus Nordrhein-Westfalen auf alle deutschen Flächenländer beleuchtet FiFo-Bericht Nr. 16 mögliche Ursachen für die großen Unterschiede bei den kommunalen Sozial- und Verwaltungsausgaben. Die Westdeutsche Allgemeine Zeitung berichtete im Voraus.


Klimaschutz trotz knapper Kassen? Welche Erfahrungen haben deutschen Städte und Gemeinden mit der Finanzierung von Klimaschutzmaßnahmen gemacht? FiFo-Forscherin Anna Rauch ist mit Kolleginnen dieser Frage empirisch auf den Grund gegangen; das FiFo Diskussionspapier 14-1 bietet die Befunde.

Vertikaler, Transparenter, Aufgabengerechter. FiFo-Geschäftsführer Michael Thöne entwirft im ifo-Schnelldienst eine Agenda für die Reform des deutschen Fiskalföderalismus.

Finanzierung von Infrastrukturinvestitionen unter der Schuldenbremse. FiFo-Geschäftsführer Michael Thöne beleuchtet auf einem BMWI-Workshop die finanziellen Optionen, auch unter der Schuldenbremse die öffentlichen Infrastrukturen zukunftsgerecht umzubauen.

Finanzausgleich - Der Blick aus dem Süden. FiFo-Geschäftsführer Michael Thöne erläutert in der Mailänder Seminarreihe „Il federalismo mitteleuropeo“ die deutschen Herausforderungen bei Finanzausgleich und Schuldenbremse.

Zur Reform des Föderalismus in Deutschland und Europa. Die Vorträge der FiFo Policy-Fellows Tagung sind online.

Haushaltspolitische Kulturen in Frankreich und Deutschland. FiFo-Geschäftsführer Michael Thöne stellt auf einer interkulturellen Tagung des Forschungszentrums CIRAC der Universität Cergy-Pontoise in Paris die deutsche Haushaltspolitik nach Maastricht zur Diskussion.

Benchmarking als Policy Driver. In einer Leitpräsentation auf der Jahrestagung der OECD zu „Performance and Results“ diskutiert FiFo-Geschäftsführer Michael Thöne die Auswirkungen nationaler und internationaler Benchmarks (wie z. B. PISA) auf politische Entscheidungsprozesse. Der Monatsbericht des BMF resümiert die Berliner Veranstaltung.

Zensus und Kommunalfinanzen. Die neuen demografischen  Daten können sich auch bei gesunkenen Bevölkerungszahlen in kommunalen Mehreinnahmen auswirken, erläutert FiFo-Geschäftsführer Michael Thöne im WDR Fernsehen.

Job opening: FiFo seeks new researcher. The FiFo Institute for Public Economics seeks new staff for research and scientific policy consultancy. The job is posted on INOMICS.

Überschüsse bei Empfängerländern? Die sprudelnden Steuereinnahmen bescheren Berlin und anderen Empfängerländern Haushaltsüberschüsse. Nicht für lange, erläutert FiFo-Geschäftsführer Michael Thöne in den ZDF-heute-Nachrichten, denn Mehreinnahmen werden in unserem anreizfeindlichen Länderfinanzausgleich sofort wieder abgeschöpft.

The system of fiscal equalisation threatens German federalism. The controversy over the "Länderfinanzausgleich" intensifies, as well as the understanding on all political sides that fundamental reform is needed. In the WELT, FiFo Managing Director Michael Thöne makes a few suggestions as to how a better system might look like, brings improvements for rich and poor Länder alike. (More details in the print edition).

The long road to functioning debt brakes in the German states. The constitutional ban on structural deficits for the German Länder is not yet in force, but already threatens to fail. In a post on the platform "Ökonomenstimme", Clemens Fuest and Michael Thöne explain how the failure could be prevented with a combination of institutional measures that demand more freedom and more discipline simultaneously.

Tax equity is not an issue of income taxation alone. People tend to forget the distributional impacts of value added tax. Therefore, VAT is policy-makers' most favourite tax, says FiFo Managing Director Michael Thöne in the Süddeutsche Zeitung.

Is the solidarity surcharge outdated? In the NDR-Radioshow „Redezeit", FiFo Managing Director Michael Thöne discusses the fiscal policy options after the federal election with Brigitte Reinemund, Chairperson of the Finance Committee of the German Bundestag, and with DStGB-CEO Gerd Landsberg.

Quartiersentwicklung aus Sicht der öffentlichen Finanzen. Auf der RWTH-Tagung „Redevelopment" auf dem Welterbe Zollverein Essen gibt FiFo-Geschäftsführer Michael Thöne einen kurzen Überblick , welche Finanzierungsoptionen für Quartiersentwicklung aus Sicht der öffentlichen Finanzen bestehen.

The new Census deflects nearly 1 Billion Euros in the Fiscal Equalization System. Had Germany more reliable population statistics, interstate fiscal transfers would look quite different. New FiFo-calculations for WELT am Sonntag show that Hamburg would not have become a recipient country ni 2012 - and that Berlin receive more than half a billion euros lower transfers. (See also: Tagesschau.de and ZEIT online).

Better Chances for Impact Investing, not Subsidies. In the weekly ZEIT, FiFo Managing Director Michael Thöne explains that good ideas need not necessarily receive well-intentioned subsidies. This is also true for social enterprises in Germany.

Property Tax Monopoly. The board game "Monopoly" was originally intended to encourage property tax reform. FiFo Managing Director Michael Thöne states in Süddeutsche Zeitung Magazin that a higher real estate tax in Germany would be uncomfortable, but makes sense.

Local Fiscal Equalisation in North Rhine-Westphalia. FiFo’s government report on improvement and reform of the NRW fiscal equalisation system has been released.

More Un-German Imperfection in State Fiscal Equalization!. On the occasion of the Bavarian and Hessian lawsuit against the “Länderfinanzausgleich” FiFo Managing Director Michael Thöne in a interview with WDR radio recommends a new system that is cruder, but also transparent and fair.

NRW – Fiscal sustainability comes first. In North Rhine-Westphalia, the collective agreement reached for state-employees should not be transferred entirely to the public servants, FiFo Managing Director Michael Thöne explained on WDR television.

Three pay for 13? No, six for ten! In print edition of the weekly ZEIT, FiFo Managing Director Michael Thöne shows the true payer-recipient relations in the German fiscal equalization system.

Let us not demand solidarity, but enable it! In the flagship TV news show "Tagesschau", FiFo Managing Director Michael Thöne comments on the legal action announced by Bavaria and Hesse against Germany's fiscal equalisation system.

All the talk about effectiveness, not on the objectives. Given the excitement surrounding the questionable effectiveness of many measures family policy support FiFo Managing Director Michael Thöne calls for a clearer discussion of the objectives in an interview with Radio Berlin-Brandenburg. As long as we do not agree, what we really want to achieve, we have to be surprised about a lack of effectiveness.

Budget transparency - Germany ranked 13th internationally. The global Open Budget Survey 2012 lands Germany - evaluated by FiFo Köln - on a good, yet for an OECD country not brilliant 13th Place.
Can we still afford to Berlin? Given recent messages of the BER Airport FiFo Managing Director Michael Thöne explains the effects and incentive problems of fiscal equalization on WDR TV.
Baumol's Cost Disease in the health sector? FiFo Policy fellow Carsten Colombier shows in FiFo Discussion Paper 12-5 that Baumol's prediction holds only weakly in the health sector.
18 Billion At One Blow. With FiFo Discussion Paper 12-4, FiFo Managing Director Michael Thöne provides an overview of the experience with the world's largest evaluation of tax expenditures.
Beyond the imperatives (laughs the future). In his welcome address FiFo Managing Director Michael Thoene introduces the BDKJ release on qualitative fiscal policy.
The taxation of company cars is mainly a tax problem, the environmental issue about it only ranks second, stresses FiFo Managing Director Michael Thöne in a hearing with the financial committee of the Bundestag.
Less tax audits because of the federal financial equalisation system? In the printed version of the ZEIT FiFo Managing Director Michael Thöne comments on the corruptive incentives the federal financial equalisation system bares on the Länder's effort to collect taxes.
A financial transaction tax would destabilize the established financial system. This is the result of a new analysis conducted by FiFo Director Felix Bierbrauer which he sums up in the Ökonomenstimme.
IIPF Research Prize for FiFo Director. Felix Bierbrauer will receive the renowned Young Economists Award 2012 of the International Institute of Public Finance. He will be awarded for the paper „Political Competition and Mirrleesian Income Taxation: A First Pass" which he wrote in collaboration with Pierre Boyer.
Ein Szenario für 2017 entwirft FiFo-Direktor Klaus Mackscheidt im neuen FiFo Discussion Paper No. 12-2. Neben der Staatsverschuldung in den öffentlichen Kernhaushalten widmet er sich besonders den Parafisci.

Financial equalization bizarre: In the Ökonomenstimme FiFo Managing Director Michael Thöne reports news from the "paying recipient state" North Rhine-Westphalia illustrating the urgent need to reform the inter-state financial equalization system.

The State of Bavaria doesn’t want to pay as much as it currently does any longer. FiFo Managing Director Michael Thöne comments the dispute about the federal financial equalisation system on WDR Television.
In light of the ambitious climate targets significantly increasing government activities to increase demand side energy efficiency are observed. Reason enough for FiFo employee Stephan Dobroschke to analyse what is actually behind the word "energy efficiency” and what kind of government actions this implies.
The compulsion to courage is not less in the new legislature for the NRW fiscal policy as FiFo Managing Director Michael Thöne explained on wdr.de.
Unit load settlement law - a point of contention as complicated as its name. In an interview with WDR.de Michael Thöne, the managing director of the FiFo, explained why the NRW municipalities can appreciate the Münster consitutional judgement more than the citizens.
Sustainability of public finances. An inventory of nationally and internationally practiced methods of long-term budget analysis. The FiFo Report No. 14 provides a comprehensive overview of methods for the analysis of fiscal sustainability. After the comparison of selected sustainability reports in the national and international examination room their  methodological building blocks are discussed in detail and tested for their respective advantages and disadvantages.

Subsidy cuts - even if it's uncomfortable. 2.9 to 4.6 billion euros are to be achieved by a reform of company car tax privilege, FiFo Managing Director Michael Thöne explained the results of the FiFo-FÖS-Klinski study in an interview with the ARD Guide Car and Traffic.

Debt reduction - When, if not now? Despite a booming economy and historically low interest rates, Germany continues to make debt. Although, as FiFo managing director Michael Thöne explains in an interview with SPIEGEL online, savings in the double digit billions would be feasible.
Eastern Germany as a warning. With regard to the Greece bailout FiFo director Clemens Fuest remembers the huge fiscal costs of supporting a poor region within a monetary union for the Washington Post.
Those who want a German government bond, need to give up the right to make debt, FiFo-director Clemens Fuest said in an interview with SPIEGEL Online. Collective debt liability is only possible if mandatory limits apply to the debt of individual countries.
The European debt crisis is far from being overcome. FiFo President Clemens Fuest explains in an interview with Deutsche Welle, that it is not enough to provide more money for bailouts. "The problems can be solved only if the crisis countries do their homework."
Beware of the fat years. Clemens Fuest warns in the ZEIT dispute with Bert Rürup about giving the impression that Germany could now rest on its economic laurels.
Crisis States must continue to shrink healthy. In a commentary in the Handelsblatt FiFo President Clemens Fuest explains that weak euro countries are still facing a long reduction phase.
The Business Review of Margaret Thatcher. In a commentary for the Wirtschaftswoche FiFo President Clemens Fuest explains the economic consequences of the tenure of Margaret Thatcher from 1979 to 1991.
An Irish No would be a signal for the euro exit. The referendum in Ireland on the fiscal pact is legitimate, says FiFo President Clemens Fuest in an interview with ZEIT online. A rejection, however, could have serious consequences.
Hollande's tax proposals are campaigning din. 75 percent tax rate up from 1 million euro annual income? - FiFo Managing Director Michael Thöne explains in an interview with DRadio Wissen why after the elections in France, a possible President Francois Hollande would not introduce such a "stupid tax".
The package deserves respect, FiFo President Clemens Fuest says in the Handelsblatt with regard to the 130 billion euro rescue package for Greece. "For the first time the policy in Europe has faced the realities of the Greek crisis, and acted decisively.”

Reform needy inter-state fiscal adjustment. In the WELT FiFo President Clemens Fuest recommends to increase the implementation of lump sums in the context of the financial compensation.

A mature reform proposal that is still up to date Clemens Fuest and FiFo Managing Director Michael Thöne presented in 2009 in the Stiftung Marktwirtschaft.

Tax treatment of company cars in Germany - FiFo employees Laura Diekmann and Eva Gerhards discuss the elaborated FiFo-FÖS-Klinski reform concept of the company car tax for more tax neutrality in the magazine Firmenauto.
Biofuels - associated with high hidden costs. In a study published today on the German renewable energy policy, FiFo researcher Anna Rauch shows that the German biofuel market interventions, despite the massive reduction of tax benefits, are connected to high hidden costs due to the biofuel quotas.
Fiscal Pact - the dubious benefit of enforced debt rules. FiFo President Clemens Fuest discussed the topic in an interview with Deutschlandradio Kultur: "This has been supported by the conviction of the people and the politics."
FiFo President will be the new ZEW Director. Clemens Fuest, Director of the FiFo Institute for Public Economics at the University of Cologne and Research Director at the Oxford University Centre for Business Taxation will be, by 1 March 2013, the new Research Director and President of the Centre for European Economic Research in Mannheim. His Co-Directors at FiFo Cologne, the Board of the Society for the Promotion of Scientific Research and the Financial Management congratulate Clemens Fuest. They wish him every success and happiness in the new position and look forward to continuing the good cooperation in 2013 under the new sign.
Consumer spending and saving shyness. FiFo President Clemens Fuest talks in an interview with Spiegel Online about the effects of high levels of employment and euro-concern on the behavior of German consumers.
Haircut of 50 percent will not be enough. In an interview with the Greek sunday newspaper To Vima FiFo President Clemens Fuest recommends the Greek government to admit the de facto state bankruptcy and to arrange another expanded haircut.
The euro-exit would be disastrous for Greece, FiFo President Clemens Fuest said in an interview with Handelsblatt. And it would create a serious risk of a chain reaction in the euro zone.
NRW debt limit must come quickly so that the transition to a sustainable fiscal policy is still constructive by 2020, FiFo Managing Director Michael Thöne stressed in its opinion on the proposed constitutional amendment.
What will be the return? If Germany wants to impose stricter fiscal rules in the euro zone, it will have to offer a significant contribution, says FiFo President Clemens Fuest in the Frankfurter Allgemeine Zeitung.
The next big disappointment is to be expected by the German Government at the upcoming Euro summit, FiFo President Clemens Fuest says in the Washington Post .
"Only ECB may still prevent crashes." In contrast to German Chancellor Angela Merkel, who opposes a stronger commitment by the ECB strictly, FiFo President Clemens Fuest sees the central bank the last hope of salvation: "The ECB will have to buy a lot more," he says in the Wirtschaftswoche.
The debt policies of the industrialized countries is at the end. "The scope for deficits will diminish. The state is becoming a normal debtor, he must provide assurances", FiFo President Clemens Fuest syas in the Financial Times Germany.
Struggle in the company car Wonderland: If the debt brake engages, subsidy cuts in the company car taxation are not so unattractive, Managing Director Michael Thoene FiFo comments the present proposals for reform in the Financial Times Germany.
Debt brake for all? A debt limit for euro stabilization is of little use if it is not really supported by politicians and the general public, FiFo President Clemens Fuest told Deutsche Welle: "If people in southern Europe have the impression that they get imposed a debt limit, then they will find ways and means to hurt them."
Stronger haircut for Greece and for Portugal. "Everything that has been discussed so far is insufficient. The haircut should be stronger. Perhaps 70 percent or more", says Clemens Fuest FiFo Director to the Deutsche Welle.
ECB towards the FED. "The original concept of the ECB is losing more and more important, FiFo President Clemens Fuest says in the WELT: "She is developing towards a United States Federal Reserve, is engaged as a savior at the last emergency."
The great danger is an erosion of the euro zone. In an interview with Deutschlandfunk and in a Handelsblatt guest commentary FiFo President Clemens Fuest explains the risks associated with the Greek referendum on the bailout package with it.
ECB policy put back on solid ground. In the Börsenzeitung FiFo President Clemens Fuest expresses his horror that the idea to let the European Central Bank continues to buy large extent burdened government bonds.
The risk to taxpayers is greater, the greater the leverage is. In the Frankfurter Allgemeine Zeitung FiFo President Clemens Fuest describes the interplay of development and pollution, the EFSF leverage means.
The bitter pill of Heracles. In a guest commentary for the Handelsblatt FiFo President Clemens Fuest warns about considering the constant expansion of the euro rescue fund as part of the solution. Without profound structural reforms in the countries concerned, the financial bailouts exacerbate rather causes of the crisis.

From the banking crisis to sovereign debt crisis and back. FiFo Managing Director Michael Thoene explains in the WDR business magazine "Profit" the interaction between private and public financial crises.

Who pays for Greece's debt? It is highly undesirable that the taxpayers pay back a penny to the banks. It sets the wrong incentives, and it is also unfair, FiFo President Clemens Fuest performs in an interview with Deutsche Welle.
The lever into risk. By leveraging the EFSF to make more resources available, clearly increases the risks for the taxpayer, so FiFo President Clemens Fuest in the WELT.
Can a city like Cologne go bankrupt? On WDR Television FiFo Managing Director Michael Thöne explains the specifics of the commune credits and why the high coverage for the municipalities to the new debt is attractive.
The markets know that Greece is not at the end of his debts to repay, FiFo President Clemens Fuest says in an interview with RBB radio. If it goes well, it is after all an orderly bankruptcy.
The global capital market is not interested in the size of the rescue package, FiFo President Clemens Fuest says in the DW-World.de. Unless the virtually unlimited rescue corresponds to the political will the markets are betting against it.
Standard rate for pleasure boats. VAT subsidies need a good reason The reduced rate is not justified for passenger shipping on the Rhine and other rivers, FiFo Managing Director Michael Thoene says on WDR TV.
Halting the loss of a Greek bankruptcy has yet to be verified, FiFo President Clemens Fuest explains in the Washington Post. It is still unclear whether the international claim can be effective.
The risk of a permanent debt and transfer union. In his comment on the consultation of the Budget Committee in the Bundestag, FiFo President Clemens Fuest welcomes the planned expansion of the EFSF, but asks for the associated reforms of financial and banking regulation. The hearing will be broadcasted on Monday from 11:30 live on Parliament TV.
A great haircut - or an even bigger? The Frankfurter Allgemeine Zeitung summarizes the alternatives, the FiFo President Clemens Fuest sees for the Greek debt yet.
Not as bad as most people think. FiFo President Clemens Fuest appreciates against the New York Times the tightrope that Angela Merkel and Nicolas Sarkozy have to overcome in the Greek crisis.

Rösler is right. For Greece, the question is not if, but when comes to bankruptcy. Therefore, it is entirely appropriate, speaking honestly about an orderly bankruptcy. This is also done for months. An orderly debt restructuring would bring clarity and calm the markets, FiFo President Clemens Fuest explains to dpa.

Basel III not enough. To equip the banks against debt crises, they should hold noticeably fewer bonds, FiFo President Clemens Fuest tells to the DW-World.de.
The hedge of banks through higher capital requirements and by EFSF and ESM at a national bankruptcy is more important than saving by governments, FiFo President Clemens Fuest says in the Financial Times Germany.
The ECB is going to destroy their credibility, FiFo President Clemens Fuest warns in the Rheinische Post given the extensive purchases of Spanish and Italian government bonds by the central bank.
Pure populism - Politics deceives the citizens when they speculated that a withdrawal of Greece from the euro area, FiFo President Clemens Fuest says in an interview with ZEIT Online. A haircut to preserve the euro zone, however, is useful and realistic.
Greek state bankruptcy without "Lehman effect" possible. To avoid a contagion to other countries, the euro zone needs clear criteria under which circumstances it takes a haircut, FiFo President Clemens Fuest explains to EurActiv.de.
Greece will not be able to repay its debts. If the new EFSF is reformed legally, the prerequisites for a great haircut are given, FiFo President Clemens Fuest is firmly in the WELT AM SONNTAG.
The Titanic scenario. What happens to the euro when the turmoil in the markets causes a chain reaction and the euro zone falls apart? FiFo President Clemens Fuest consults the Handelsblatt to design a "worst case scenario".
Economic crisis and economists crisis: Clemens Fuest sees progress in economic science since 2008. "Who expected the great revolution is perhaps disappointed. But the methods of the economic research were generally not wrong," the FiFo President explains in DIE WELT.
Euro crisis - it is dicey? FiFo President Clemens Fuest foresees no froßen slump in the economy, but emphasizes the manifest risks in an interview with the Frankfurter Allgemeine Zeitung.
The Rubicon would be exceeded with Euro bonds, FiFo President Clemens Fuest reaffirmed in the FAZ interview.
Euro Bonds are the wrong way, to quit the debt crisis in Europe, FiFo President Clemens Fuest states in the New York Times and in a commentary in the Handelsblatt.
Greece needs an additional haircut. A short haircut is not enough FiFo President Clemens Fuest reaffirmed in the Greek weekly newspaper Proto Thema.
Brussels was a significant jump in the direction of a transfer union, FiFo President Clemens Fuest says in the Rheinische Post.
European debt reduction - We need effective sanction rules, FiFo President Clemens Fuest says in a commentary in Wirtschaftswoche.
The illusions of the euro rescuers - FiFo President Clemens Fuest analyzed in a commentary in the Handelsblatt.
Bad conditions for investors are a major problem in the strengthening of the Greek real economy, FiFo President Clemens Fuest says in DIE WELT.
The opportunity for participation by the banks has been squandered - FiFo President Clemens Fuest comments the decisions of the Brussels crisis summit in the Welt am Sonntag.
A Step Forward - The ECB has withdrawn from a nonsensical position to help Greece, FiFo President Clemens Fuest says in the DIE WELT.
A tax cut on credit is sham, no relief. In the current Wirtschaftsdienst-Leitartikel, FiFo President Clemens Fuest states, that spending cuts must come before tax cuts, not only a strong economy.
Only the treatment of a symptom. In an interview with Deutschlandradio, FiFo President Clemens Fuest expresses his doubts about the discussed ban on short sales.

Tax cuts? Little smart. The additional tax revenue in the economic boom are the dismantling of the giant German debts. There is no room for tax cuts, FiFo President Clemens Fuest states firmly against dpa.

The sham of German banks. The "voluntary participation" of the banks at the current Greece rescue is in danger, in the end, only to burden the taxpayer, FiFo President Clemens Fuest states in the Frankfurter Allgemeine Zeitung.
The ECB exceeds its mandate. With their vehement opposition to a term extension for Greek debt, the European Central Bank is going too far, FiFo President Clemens Fuest argues in an opinion piece for the Wall Street Journal.

There is no room for tax cuts. FiFo President Clemens Fuest dissected the arguments of the proponents of a tax cut in the Handelsblatt and recommends a structural shift of the tax burden without a general reduction.

Energy refurbishment of buildings: The proposed tax subsidies are inefficient and unfair, FiFo Managing Director Michael Thöne explains in his comment on the hearing of the Bundestag.
Reform of company car taxation supports the offensive efficiency of the car manufacturers, FiFo Managing Director Michael Thoene states in the VCD magazine fairkehr.
The dangerous Greece-stance of the ECB. In a guest Commentary in the Handelsblatt FiFo President Clemens Fuest analyzes the current policy of the European Central Bank.

The state bankruptcy is probably already fixed. However, the economic decline of Greece must be retarded by a debt reduction with the participation of private creditors, FiFo President Clemens Fuest explains in an interview with tagesschau.de, the Rheinische Post, the Stern and the Wiener Kurier.

The ECB should open up options for the Greek debt crisis, rather than obstruct them without good reason FiFo President Clemens Fuest says in an interview with euractiv.de and in the FAZ.
Acceleration of the daycare facility for children expansion. To guarantee the right to a U3-care place, most states need to be more active, German Family Minister Schröder states when presenting the FiFo evaluation of the previous expansion the Financial Times Germany, the Welt and ZDF report today.
The protection of the euro zone is Germany's own interest, so FiFo President Clemens Fuest in the ARD Brennpunkt. A debt restructuring in Greece would ensure that not only the taxpayer is liable for the monetary union.
Athen’s creditors should waive 60 percent. In an interview with the Rheinische Post FiFo President Clemens Fuest advocates a great haircut to restore Greece's creditworthiness.
Greece will not be able to save itself. In a commentary in the Handelsblatt FiFo President Clemens Fuest outlines like the failure of the Mediterranean country can still be averted.
World Travel subsidy Parents Money. In the Manager Magazin FiFo President Clemens Fuest characterizes parent benefits as a textbook case of how politicians produce windfall profits.
United States and Japan in the debt trap. The two largest economies in the world are suffering from high levels of government debt - which varies considerably, as FiFo President Clemens Fuest explains to the Deutsche Welle World.

We will have to get used to inflation rates of three to four percent, FiFo President Clemens Fuest says the international edition of the Spiegel.

Tax treatment of company cars in Germany. The joint study of the FIFO Cologne, FÖS e.V. and the Berlin law professor Stefan Klinski provides a comprehensive analysis of the biggest (unofficial) German tax perk. In addition, an alternative model is outlined that would be more efficient and equitable, and also environmentally harmful subsidies worth up to 5.5 billion euros would be reduced. FiFo Report No. 13: long version and short version.

Regulatory policy is questionable. Regarding to the RWE AGM, FiFo Managing Director Michael Thoene comments the question of municipal investments in major utilities and industrial companies in the Kölner Stadt Anzeiger.
Germany would receive a stability dividend, FiFo President Clemens Fuest explains the consequences of a possible downgrade of the U.S. credit rating in the Financial Times Germany and in the Neue Zürcher Zeitung. Nevertheless it is also in Germany's interest if the U.S. can avoid a debt crisis.

High public debt creates crisis risk. The growing debts of the governments in America and Europe increase the risk of new financial crises, FiFo President Clemens Fuest explains in an interview with Deutschlandfunk.

General government miracle NRW? The planned budget deficit for 2011 of NRW is reduced by positive EUR 2.3 billion. Of these, 1.9 billion euros due to the strong economy, not on the actions of the state government, FiFo Managing Director Michael Thoene explains in the Magazine Westpol in the WDR television.
Without added value - the chaos around the VAT. In an interview with Kathy Weber on K1 Magazine FiFo Managing Director Michael Thoene describes the perplexity at the reduced VAT rates and calls for a thorough simplification.
The debt brake is not enough. Germany has to consolidate a present value of € 70bn in order to keep a lid on debts while facing the demographic shift, calculates FiFo Director Clemens Fuest in the Handelsblatt.
Portugal, Spain … who’s next? The stress tests in the banking sector will show which countries we will have to worry about the most, says FiFo Director Clemens Fuest in the Frankfurter Allgemeine Sonntagszeitung.
The NRW Government lacks willingness to cut spendings. In the debate about the NRW budget for 2011 in a WDR.de-Interview and in the hearing of official experts at the Landtag, FiFo Managing Director Michael Thöne explains why the planned new indebtedness is much too high.
After the constitutional judgement regarding the NRW 2010 supplementary budget it will get harder for financial politicians throughout the country torun into additional debts, explains FiFo Managing Director Michael Thöne in an interview with the financial magazine Profit of WDR-Radio.
The wrong steps: The „Pact for the Euro” doesn’t touch the most important problems regarding the debt crisis, FiFo Director Clemens Fuest analyses in an interview with news agency Reuters.
Ten percent or more. The equity ratio of the banks must rise drastically such that tax payers won’t have to bail them out in a public debt crisis, FiFo Director Clemens Fuest stresses in the Frankfurter Allgemeine Zeitung.
The only thing you can take for granted in NRW is the debts. In the magazine Westpol of WDR TV FiFo Managing Director Michael Thöne criticizes the approach of the NRW legislation to justify the considerable amount of public debts as “preventive financial policy”.
Value added tax made easy. FiFo Director Clemens Fuest and other renowned Scientists in a mutual appeal call for a fundamental reform of the value added tax.
China invests in Europe. There are many reasons for that. On Euronews FiFo Managing Director Michael Thöne explains the role of the Chinese current account surpluses.
NRW in consolidation dilemma: Intergenerative fairness forbids any further stacking up of debts just like neglecting future spending in education. In a hearing of the NRW Landtag FiFo Managing Director Michael Thöne explains the political leeway regarding this dilemma.
„Strange that 500 € tuition fees per semester cause that much more protest than 500 € day care fees for children per month” in the ZEIT FiFo Managing Director Michael Thöne comments on paradoxes of the German family politics.
The Euro Pact – Rather a political signal than a solution statement. The planned “Pact for Competitiveness” neglects urgent problems – banking crisis and public debt crisis - FiFo Director Clemens Fuest stresses in Financial Times Deutschland.
Chinese bubbles, global trade wars, zombie states at the brink of Europe. In the forefront of the Davos summit in an interview with Deutschlandfunk and in an article  for the Handelsblatt FiFo Director Clemens Fuest analyses the current risks for the world economy and for the euro area.
NRW – times of giving, times of taking. In “Landesgeschichte per Länderfinanzausgleich” (The state‘s history explained by the federal financial equalisation system) in a conversation with WDR.de FiFo Managing Director Michael Thöne explains NRW’s economic history reflected by its financial power.
Greece and Ireland are bankrupt. In the Spiegel FiFo Director Clemens Fuest asserts that European politics has to acknowledge this fact and must give impetus to appropriate reforms based on it.
From 2020 on it’s the black null. Federal states’s finances are heavy tankers which already now have to be steered into the right direction of the debt break, FiFo Managing Director Michael Thöne explains in the magazine Westpol on WDR TV.
It is rare that the state contracts “good debts”. Because they don’t only serve an investment-related purpose but they also have to be paid back from the investment’s returns. However politicians lack willingness for repayments FiFo Managing Director Michael Thöne explains in the Rheinische Post.
Public budgets that go against the constitution are not rare. But the preliminary injunction against the NRW 2010 supplementary budget brings about a new severeness regarding the debate, FiFo Managing Director Michael Thöne explains in an interview with WDR economic magazine “Profit”.
The unconditional basic income is based on wrong premises like the assumption that there are not enough jobs, says FiFo Director Clemens Fuest in the Frankfurter Allgemeine Zeitung.