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Gregor Laudage @gregorlaudage.bsky.social · 02/12/2024

1/What do the KTF, the autobahn and the chimney sweepers' pension fund have in common? They are all part of the wide landscape of off-balance-sheet fiscal agencies (OBFA) in Germany and therefore part of our new working paper with @agutersandu.bsky.social @steffenmurau.bsky.social and Armin Haas.

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Gregor Laudage @gregorlaudage.bsky.social · 02/12/2024

2/Bringing together law&political economy, we map Germany's fiscal ecosystem. We place each entity on a coordinate system and depict its proximity or distance to the core budget based on its legal status and revenue model, as well as the characteristics of the debt it has issued.

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