Philipp Heimberger
LightNews LightNews
banner
heimbergecon.bsky.social
Philipp Heimberger
@heimbergecon.bsky.social
2.6K followers 120 following 640 posts

Vienna Institute for International Economic Studies (wiiw); macroeconomics, economic policy, public finance, political economy, meta-science.

Videos
Economics 86%
Political science 11%
Posts Replies Media Videos

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 12d
Source: doi.org/10.1007/s432...

Free-access version: www.researchgate.net/publication/...

Reposted by Jonathan Portes

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 12d
My paper on fiscal consolidation, its growth effects and implications for debt sustainability assessments is out in the December '25 issue of "Review of Evolutionary Political Economy". I review €zone fiscal consolidations and what the research record shows about growth effects.

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 13d
German exports in machinery and autos/parts to China have declined strongly. The decline is ~0.8%-points of GDP per year relative to the peak export shares.

chart via Brad Setser

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 15d
Source: www.ft.com/content/5d21...
Which genius from history would have been the best investor?
FTAV goes hedge fund headhunting through the ages
www.ft.com

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 15d
John Maynard Keynes wasn’t just a legendary economic and philosophical thinker, he was also an exceptional investor. Managing King’s College Cambridge’s endowment (1922–1946), he delivered ~15% annual investment returns, outperforming equity markets.

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 15d
Source: www.suerf.org/publications...
SUERF
- The European Money and Finance Forum
www.suerf.org

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 15d
Lending rates are falling as monetary policy eases, but unevenly. Household borrowing costs have declined less than those of firms, as household loans are typically tied to longer-term rates and fixed for longer periods, while long-term market rates have fallen only modestly.

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 16d
Link to the paper: www.aeaweb.org/articles?id=...

Free-access version: www.ifo.de/DocDL/cesifo...
Local Labor Market Effects of the 2002 Bush Steel Tariffs
(November 2025) - President George W. Bush imposed safeguard tariffs on steel in early 2002. Using US input-output tables and a generalized difference-in-difference methodology, we analyze the local l...
www.aeaweb.org

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 16d
The 2002 steel tariffs in the US (under president George W. Bush) created persistent negative employment effects in manufacturing industries that rely on steel as an input - despite being removed after 18 months.

New evidence in "American Economic Journal: Economic Policy":

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 17d
Source: www.oenb.at/Presse/Press...
OeNB unterstützt Wissenschaftler:innen mit 2,9 Mio. Euro - Oesterreichische Nationalbank (OeNB)
www.oenb.at

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 17d
The Austrian National Bank (OeNB) will fund our 3-year project “Understanding people’s views on fiscal policy.” We'll use survey experiments to study expectations about fiscal policy effects, views on propagation mechanisms, fiscal preferences shaped by trust and trade-offs etc.

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 18d
Source: ieo.imf.org/en/-/media/i...
ieo.imf.org

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 18d
This is an interesting summary of the IMF's shifting recommendations regarding the appropriate fiscal stance in advanced economies.

Reposted by Margit Schratzenstaller, Philipp Heimberger

georgfeigl.bsky.social
Georg Feigl @georgfeigl.bsky.social · 19d
Der Link zu unserem Jahresbericht: www.fiskalrat.at/publikatione...

@cbadelt.bsky.social @heleneschuberth.bsky.social @heimbergecon.bsky.social @margitschratz.bsky.social @miriamrehm.bsky.social @nikowall.bsky.social @janaschultheiss.bsky.social @markusmarterbauer.bsky.social

Reposted by Philipp Heimberger, Matthias Schnetzer

georgfeigl.bsky.social
Georg Feigl @georgfeigl.bsky.social · 19d
Neuer #Fiskalrat-#Budget-Bericht: Doppelbudget ist auf Kurs, aber es bleibt viel zu tun, um die mittelfristigen Budgetziele zu erreichen - insbesondere für das #Budget2027. Implizite Aussage: Die jüngste mediale Aufregung um angeblich explodierende Länder-Defizite bleibt nicht nachvollziehbar. Ein 🧵
Budgetprognose Fiskalrat

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
Here is the link to our paper: sciencedirect.com/science/arti... And here is the source on most popular, most downloaded and top cited EER papers: sciencedirect.com/journal/euro... (joint work with @sgechert.bsky.social)

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
Corporate tax cuts have received a lot of intention in debates on reforms as a source of economic growth. Given the variance, there may be cases with positive or negative growth effects of corporate tax cuts, but our results suggest that this focus has often be exaggerated. /7

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
Our findings are consistent with the nuanced recent theoretical growth literature stressing various (partly competing) channels – such as knock-on effects on R&D incentives or labour supply – through which corporate tax changes can affect growth both positively and negatively. /6

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
We also find that several factors influence reported estimates, including researcher choices concerning the measurement of growth and corporate taxes, and controlling for other budgetary components. /5

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
Correcting for this bias, we cannot reject the hypothesis that the effect of corporate taxes on growth is zero. We show that this finding holds when we account for potential endogeneity issues between corporate taxes and growth. /4

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
According to the average of all estimates, a cut in the corporate tax rate by 10 percentage points would significantly increase annual GDP growth rates by about 0.2 percentage points. This result, however, is driven by publication bias in favour of growth-enhancing effects. /3

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
We analyse the existing corporate tax-economic growth literature. We collect 441 estimates from 42 primary studies. Reported results are ambiguous: Corporate tax cuts increase, reduce, or do not significantly affect growth /2

Reposted by Gerry McCartney

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 20d
Our paper on the inflated effects of corporate tax cuts on economic growth, published in the European Economic Review, is the journal’s most downloaded paper and has attracted the most attention on social media over the last 3 years. It's also among the most widely cited papers🧵

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 24d
Source: wir2026.wid.world/www-site/upl...
wir2026.wid.world

Reposted by Samuel Bentolila

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 24d
The ultra-rich escape taxation. Effective income tax rates climb steadily for most of the population but fall sharply for billionaires and centi-millionaires.

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 24d
Source: wir2026.wid.world/www-site/upl...
wir2026.wid.world

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 24d
"The top 0.001% (about 56,000 adults) have 3 times more wealth than half of the entire world population combined."

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 25d
Greece is running large primary fiscal surpluses of more than 4% of GDP (i.e. revenue > spending excl. interest payments). Italy is also back to running (smaller) primary surpluses. Germany's primary deficit is set to increase as defence and infrastructure spending rises.

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 26d
Source: haruka-uchida.github.io/websitefiles...
haruka-uchida.github.io

heimbergecon.bsky.social
Philipp Heimberger @heimbergecon.bsky.social · 26d
Prestige bias in academic research:

Paper submissions from authors affiliated with top-20 ranked institutions receive higher reviewer scores, an effect that vanishes when reviews are blinded. Blinded reviewing narrows disparities in reviewer evaluations and acceptance rates.