Hans-Werner Sinn

Ludwig-Maximilians-University Munich
Department of Economics
Schackstr. 4
80539 Munich
Tel: 49-89-21802748
Fax: 49-89-397303;49-89-8506434 (home)

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: PE
NBER Affiliation: Research Associate
Institutional Affiliation: Ludwig-Maximilians-University Munich

NBER Working Papers and Publications

May 2018The ECB's Fiscal Policy

Published: Hans-Werner Sinn, 2018. "The ECB’s fiscal policy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 25(6), pages 1404-1433, December. citation courtesy of

July 2016Buffering Volatility: A Study on the Limits of Germany’s Energy Revolution

Published: Hans-Werner Sinn, 2017. "Buffering volatility: A study on the limits of Germany's energy revolution," European Economic Review, . citation courtesy of

November 2011Target Loans, Current Account Balances and Capital Flows: The ECB's Rescue Facility
with Timo Wollmershaeuser: w17626

Published: Hans-Werner Sinn & Timo Wollmershäuser, 2012. "Target loans, current account balances and capital flows: the ECB’s rescue facility," International Tax and Public Finance, Springer, vol. 19(4), pages 468-508, August. citation courtesy of

September 2007Public Policies against Global Warming

Published: "Public Policies against Global Warming: a supply side approach“, International Tax and Public Finance 15 (4), 2008, pp. 360-394; (Download, 1.9 MB); CESifo Working Paper No. 2087, August 2007; (Download, 841 KB).

Pareto Optimality in the Extraction of Fossil Fuels and the Greenhouse Effect: A Note
March 2007The Welfare State and the Forces of Globalization
September 2004Migration, Social Standards and Replacement Incomes: How to Protect Low-income Workers in the Industrialized Countries Against the Forces of Globalization and Market Integration

Published: Sinn, Hans-Werner. "Migration And Social Replacement Incomes: How To Protect Low-Income Workers In The Industrialized Countries Against The Forces Of Globalization And Market Integration," International Tax and Public Finance, 2005, v12(4,Aug), 375-393.

January 2002The New Systems Competition

Published: Hans-Werner Sinn, 2004. "The New Systems Competition," Perspektiven der Wirtschaftspolitik, Blackwell Publishing, vol. 5(1), pages 23-38, 02. citation courtesy of

December 2001Risk Taking, Limited Liability and the Competition of Bank Regulators

Published: Hans-Werner Sinn, 2002. "Risktaking, Limited Liability, and the Competition of Bank Regulators," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 59(3), pages 305-, August.

October 2001When Will the Germans Get Trapped in their Pension System?
with Silke Uebelmesser: w8503
July 2001Why Has the Euro Been Falling? An Investigation into the Determinants of the Exchange Rate
with Frank Westermann: w8352
Social Dumping in the Transformation Process?
February 2001Two Mezzogiornos
with Frank Westermann: w8125

Published: Sinn, Hans-Werner and Frank Westermann. "Due 'Mezzogiorni'." L'Industria, Nuova Serie 27, 1 (January-MArch 2006): 49-51.

January 2001The Minimum Inflation Rate for Euroland
with Michael Reutter: w8085
March 2000Germany's Economic Unification: An Assessment after Ten Years

Published: Sinn, H. W. "Germany's Economic Unification: An Assessment After Ten Years," Review of International Economics, 2002, v10(1,Feb), 113-128. citation courtesy of

Why a Funded Pension System is Useful and Why It is Not Useful

Published: Sinn, Hans-Werner. "Why A Funded Pension System Is Needed And Why It Is Not Needed," International Tax and Public Finance, 2000, v7(4/5,Aug), 389-410.

August 1999The Crisis of Germany's Pension Insurance System and How It Can Be Resolved

Published: Cnossen, Sijbren and Hans-Werner Sinn (eds.) Public finance and public policy in the new century, CESifo Seminar Series. Cambridge and London: MIT Press, 2003.

July 1999The Competition Between Competition Rules
February 1999Inflation and Welfare: Comment on Robert Lucas


  • CESifo Discussion Paper Nr.179, 1999
  • Published in A. Leijonhufvud(ed.), "Monetary Theory as a Basis for Monetary Policy," MacMillan, 2001.

Green Tax Reform and Competitiveness
with Erkki Koskela, Ronnie Schob: w6922

Published: Erkki Koskela & Hans-Werner Sinn & Ronnie Schöb, 2001. "Green Tax Reform and Competitiveness," German Economic Review, Blackwell Publishing, vol. 2(1), pages 19-30, 02. citation courtesy of

June 1998The Pay-As-You-Go Pension System as a Fertility Insurance and Enforcement Device

Published: Sinn, Hans-Werner. "The Pay-as-You-Go Pension System As Fertility Insurance And An Enforcement Device," Journal of Public Economics, 2004, v88(7-8,Jul), 1335-1357.

October 1997The Value of Children and Immigrants in a Pay-As-You-Go Pension System: A Proposal for a Partial Transition to a Funded System

Published: Sinn, Hans-Werner. "The Value of Children and Immigrants in a Pay-as-You-Go Pension System: A Proposal for a Partial Transition to a Funded System." Ifo Studien 47, 1 (2001): 77-94.

June 1997Eurowinners and Eurolosers: The Distribution of Seigniorage Wealth in EMU
with Holger Feist: w6072

Published: European Journal of Political Economy, vol. 13 (1997) 665-689

November 1996International Implications of German Unification

Published: The Economics of Globalization. Razin, A., and E. Sadka, eds., Cambridge: Cambridge University Press, 1999, pp. 33-58.

January 1996The Principle and Market Failure in Systems Competition

Published: C and S Working Paper, November 1995 Journal of Public Economics 66 (1997) 247-274 H Selection

November 1995Social Insurance, Incentives, and Risk Taking

Published: International Tax and Public Finance 3, (1996), pp. 259-280. citation courtesy of

September 1994A Theory of the Welfare State

Published: Scandinavian Journal of Economics, Vol. 97, 1995, pp. 495-526. citation courtesy of

November 1992Privatization, Risk-Taking, and the Communist Firm
with Dominique Demougin: w4205

Published: Journal of Public Economics, Vol. 55, no.2 pp. 203-231, October 1994 citation courtesy of

February 1992Privatization in East Germany


  • Public Finance, 47, (supp.), 1992, pp. 152-171 ("Public Finance in a World of Transition") supplement
  • Sinn, Hans-Werner, 1992. "Privatization in East Germany," Public Finance = Finances publiques, , vol. 47(Supplemen), pages 152-71. citation courtesy of

January 1991Expected Utility, u-o Preferences, and Linear Distribution Classes: A Further Result

Published: Journal of Risk and Uncertainty, Vol. 3, No. 3, pp. 277-281, (September 1990).

Macroeconomic Aspects of German Unification

Published: Economic Aspects of German Unification, ed. P.J. Welfens. Springer, 1992, pp. 79-133

Taxation and the Cost of Capital: The "Old" View, the "New" View, and Another View
in Tax Policy and the Economy, Volume 5, David Bradford, editor
December 1990American Economic Policy and the International Debt Crisis

Published: JOICE 2, ed. G. Gandolfo, 1993, pp. 207-226.

November 1990A Simple Model of Useless Speculation
with Murray C. Kemp: w3513

Published: C and S working Paper , December 1995, Japanese Economic Review 51, (2000), pp. 85-95.

Taxation and the Birth of Foreign Subsidiaries

Published: Herberg, Horst and Ngo Van Long (eds.) Trade, welfare, and economic policies: Papers in Honour of Murray C . Kemp. Ann Arbor: Michigan University Press, 1993.

October 1990Taxation and the Cost of Capital: The "Old" View, the "New" View and Another View
September 1990The Policy of Tax-Cut-cum-Base-Broadening: Implications for International Capital Movements

Published: Public Finance and Performance of Enterprises, edited by Charles W. Roskamp and Manfred Neumann, pp. 153-176. Detroit: Wayne State University Press, 1987.

February 1990Can Direct and Indirect Taxes Be Added for International Comparisons of Competitiveness?

Published: Reforming Capital Income Taxation, edited by Horst Siebert, Tubingen, Germany: J.C.B. Mohr (Paul Siebeck), 1990, pp. 47-65.

January 1990The Non-Neutrality of Inflation for International Capital Movements

Published: European Economic Review, Vol. 34, pp. 1-22, (1991). citation courtesy of

The Vanishing Harberger Triangle

Published: Journal of Public Economics, Vol. 45, pp. 271-300, (1991). Edited by A.B. Atkinsona and N.H. Stern, UK. citation courtesy of

Tax Harmonization and Tax Competition in Europe

Published: European Economic Review, Vol. 34, pp. 489-504, (1990). citation courtesy of

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