@book{Narmania2007,
  author    = {Narmania, David},
  title     = {Rights of local jurisdictions and tax revenue distribution in Georgia},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus-18766},
  publisher      = {Universit{\"a}t Potsdam},
  year      = {2007},
  abstract  = {This paper describes the administrative powers of local jurisdictions in Georgia, emphasizing on the tax competences and the abilities to mobilize other sources of income. Having listed and explained the types of revenues and incomes, the articles continues to show their distribution among administrative levels according to the current tax code. Following a brief overview of the main laws underlying tax regulation, the existing problems of the status quo before 2007 and some perspectives for the immediate future are outlined.},
  language  = {en}
}
@phdthesis{Wulff2018,
  author    = {Wulff, Alexander},
  title     = {Essays in macroeconomics and financial market imperfections},
  doi       = {10.25932/publishup-42995},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-429956},
  school      = {Universit{\"a}t Potsdam},
  pages     = {X, 142},
  year      = {2018},
  abstract  = {This dissertation consists of four self-contained papers that deal with the implications of financial market imperfections and heterogeneity. The analysis mainly relates to the class of incomplete-markets models but covers different research topics. The first paper deals with the distributional effects of financial integration for developing countries. Based on a simple heterogeneous-agent approach, it is shown that capital owners experience large welfare losses while only workers moderately gain due to higher wages. The large welfare losses for capital owners contrast with the small average welfare gains from representative-agent economies and indicate that a strong opposition against capital market opening has to be expected. The second paper considers the puzzling observation of capital flows from poor to rich countries and the accompanying changes in domestic economic development. Motivated by the mixed results from the literature, we employ an incomplete-markets model with different types of idiosyncratic risk and borrowing constraints. Based on different scenarios, we analyze under what conditions the presence of financial market imperfections contributes to explain the empirical findings and how the conditions may change with different model assumptions. The third paper deals with the interplay of incomplete information and financial market imperfections in an incomplete-markets economy. In particular, it analyzes the impact of incomplete information about idiosyncratic income shocks on aggregate saving. The results show that the effect of incomplete information is not only quantitatively substantial but also qualitatively ambiguous and varies with the influence of the income risk and the borrowing constraint. Finally, the fourth paper analyzes the influence of different types of fiscal rules on the response of key macroeconomic variables to a government spending shock. We find that a strong temporary increase in public debt contributes to stabilizing consumption and leisure in the first periods following the change in government spending, whereas a non-debt-intensive fiscal rule leads to a faster recovery of consumption, leisure, capital and output in later periods. Regarding optimal debt policy, we find that a debt-intensive fiscal rule leads to the largest aggregate welfare benefit and that the individual welfare gain is particularly high for wealth-poor agents.},
  language  = {en}
}
@techreport{BlanzEydamHeinemannetal.2023,
  type      = {Working Paper},
  author    = {Blanz, Alkis and Eydam, Ulrich and Heinemann, Maik and Kalkuhl, Matthias and Moretti, Nikolaj},
  title     = {Fiscal Policy and Energy Price Shocks},
  series = {CEPA Discussion Papers},
  journal   = {CEPA Discussion Papers},
  number    = {70},
  issn      = {2628-653X},
  doi       = {10.25932/publishup-61276},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-612763},
  pages     = {33},
  year      = {2023},
  abstract  = {The effects of energy price increases are heterogeneous between households and firms. Financially constrained poorer households, who spend a larger relative share of their income on energy, are particularly affected. In this analysis, we examine the macroeconomic and welfare effects of energy price shocks in the presence of credit-constrained households that have subsistence-level energy demand. Within a Dynamic Stochastic General Equilibrium (DSGE) model calibrated for the German economy, we compare the performance of different policy measures (transfers and energy subsidies) and different financing schemes (income tax vs. debt). Our results show that credit-constrained households prefer debt over tax financing regardless of the compensation measure due to their difficulty to smooth consumption. On the contrary, rich households tend to prefer tax-financed measures as they increase the labor supply of poor households. From an aggregate perspective, tax-financed measures targeting firms effectively cushion aggregate output losses.},
  language  = {en}
}