Department of Philosophy, Politics and Economics

Chair of Macroeconomics and International Economics

For decades, the European Union has been losing ground in terms of global competitiveness compared with the rest of the world’s economic regions. Without far-reaching reforms in the areas of education, monetary and fiscal policy, the European Union will no longer be able to fulfil its promise to increase the prosperity of European citizens. The research area ‘Reform Requirements in the EU’ focuses primarily on the reforms needed in the fields of monetary and fiscal policy to enhance the European Union’s competitiveness in the global marketplace.

This area of research examines the interplay between developments in the financial markets and macroeconomic trends. Macroeconomic fundamentals have long-term implications for asset allocation decisions in the financial markets. Conversely, short-term changes in expectations on the financial markets can have a significant impact on developments in the real economy. Based on empirical studies, these relationships are analysed and economic policy implications for increasing resilience are derived.

The design of the tax system has far-reaching implications for the allocation of goods and services and, consequently, for an economy’s ability to generate income and grow. Within this area of research, the links between the design of the tax system and relevant determinants of growth, such as the nature and extent of investment behaviour, are examined from both theoretical and empirical perspectives.