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This paper examines why fiscal policy is procyclical in developing as well as developed countries. We introduce the concept of fiscal transparency into a model of retrospective voting, in which a… (More)
Does fiscal governance affect government borrowing costs? We operationalize fiscal governance as the ability of governments to pass a budget on time and, using a unique data set on budget enactment… (More)
An innovative concept of an compressed air energy storage (CAES) plant is developed at the Institute for Heatand Fuel Technology (IWBT) of the Technische Universität Braunschweig. This concept aims… (More)
We analyze how a key component of fiscal governance, the ability of governments to pass a budget on time, affects government bond yield spreads. Based on a sample of 36 US states from 1988 to 1997,… (More)