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DIW Economic Bulletin 51/52 / 2017
In this study, we report on the current state of the international market for crude oil. The market data we analyzed indicate that competition has intensified as a result of the now firmly-established shale oil extraction industry in the U.S. Model-based simulations also show that supply-side shifts should only have moderate price effects. This applies to both an expansion in U.S. shale oil production ...
2017| Aleksandar Zaklan, Dawud Ansari, Claudia Kemfert
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DIW Economic Bulletin 51/52 / 2017
In Germany, attendance in early childhood education and care (ECEC) centers has soared in the last twenty years, making them a key context in which children learn. For children from migrant backgrounds who speak a foreign language at home, participation in ECEC has the potential of providing them with early German language exposure. One important but often overlooked factor in this respect is the composition ...
2017| Ludovica Gambaro
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DIW Economic Bulletin 51/52 / 2017
2017
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DIW Economic Bulletin 50 / 2017
The upswing of the German economy continues and since the beginning of 2017, even at a somewhat faster pace. Sharp gains in employment are still driving consumption. And companies are investing significantly more in machines and facilities. Many global risks that previously limited the propensity to invest—in Germany and many other countries—have vanished. And the euro area is also finally feeling ...
2017| Ferdinand Fichtner, Karl Brenke, Marius Clemens, Simon Junker, Claus Michelsen, Thore Schlaak, Kristina van Deuverden
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DIW Economic Bulletin 50 / 2017
The global economy is expected to grow by four percent annually over the next two years. This is a slight increase in the German Institute for Economic Research forecast in comparison to that of the fall. The upswing will gain momentum in both developed and emerging economies. Private consumption will play a pivotal supporting role as investment continues to grow rapidly around the globe. Despite the ...
2017| Ferdinand Fichtner, Guido Baldi, Martin Bruns, Christian Dreger, Hella Engerer, Stefan Gebauer, Malte Rieth
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DIW Economic Bulletin 50 / 2017
2017| Ferdinand Fichtner, Dawud Ansari, Guido Baldi, Karl Brenke, Martin Bruns, Marius Clemens, Kristina van Deuverden, Christian Dreger, Hella Engerer, Marcel Fratzscher, Stefan Gebauer, Simon Junker, Claus Michelsen, Malte Rieth, Thore Schlaak, Aleksandar Zaklan
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DIW Economic Bulletin 50 / 2017
2017
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DIW Economic Bulletin 49 / 2017
The European Central Bank is planning a gradual reduction of government bond purchases under the asset purchase program it initiated in 2015. The present study by the German Institute for Economic Research analyzes the potential macroeconomic implications of different exit strategies. The authors examined the potential effects of a reduction in net purchase volume, an early exit, and a faster exit ...
2017| Marius Clemens, Stefan Gebauer, Malte Rieth
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DIW Economic Bulletin 49 / 2017
Public authorities spend large proportions of their GDP on goods and services and are therefore responsible for a significant share of embedded emissions. Given this large impact, governments have the responsibility of decarbonizing their purchases, as well as the potential to influence markets towards sustainability. So-called ‘Green Public Procurement’ (GPP) consists in the use of environmental criteria ...
2017| Olga Chiappinelli, Vera Zipperer
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DIW Economic Bulletin 49 / 2017
Calculations based on data from the Socio-Economic Panel (SOEP) show that after the introduction of a statutory minimum wage in Germany in January 2015, the wage growth of eligible employees with low wages accelerated significantly. Before the reform, the nominal growth in contractual hourly wages in the lowest decile, the bottom tenth of the pay distribution, was less than two percent in the long-term ...
2017| Patrick Burauel, Marco Caliendo, Alexandra Fedorets, Markus M. Grabka, Carsten Schröder, Jürgen Schupp, Linda Wittbrodt
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DIW Economic Bulletin 49 / 2017
2017
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DIW Economic Bulletin 48 / 2017
The world needs to continue working to protect the climate—this is generally undisputed. However, there is no agreement on which technologies should be used to decarbonize the energy sector. Many international scenarios still assume a relevant role for nuclear power in the future. However, a study by the German Institute for Economic Research shows that the Paris climate protection target— limiting ...
2017| Claudia Kemfert, Thorsten Burandt, Karlo Hainsch, Konstantin Löffler, Pao-Yu Oei, Christian von Hirschhausen
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DIW Economic Bulletin 48 / 2017
The demographic change is posing many challenges for government budgets. In the face of a shrinking work force, keeping the number of workers and thus pension contributors at the highest possible level is a key economic policy goal. This could be achieved if people retire from the work force later in life. Partial retirement, the option to work part-time while drawing a pension before reaching the ...
2017| Peter Haan, Songül Tolan
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DIW Economic Bulletin 48 / 2017
2017
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DIW Economic Bulletin 46/47 / 2017
In recent years, German companies have invested more in research and development (R&D) abroad. After a prolonged plateau period, the proportion of investment abroad rose to around 35 percent; concurrently R&D expenditure in Germany has continued to rise sharply. Growth abroad did not occur at the expense of domestic research. Foreign companies in Germany have also invested more in R&D recently but ...
2017| Heike Belitz
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DIW Economic Bulletin 46/47 / 2017
Due to increasing shares of renewable energies in electricity production, the cost-effective system integration of these installations is becoming more and more important. Technologies and locations are viewed as system-friendly when they are more cost-efficient and easier to integrate because they, unlike other installations, produce at times when electricity is more valuable. This report shows that ...
2017| Karsten Neuhoff, Nils May, Jörn Richstein
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DIW Economic Bulletin 46/47 / 2017
2017
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DIW Economic Bulletin 45 / 2017
In spring 2013, youth unemployment in the EU peaked and then declined sharply. Yet at least one in every six members of the economically active population between age 15 and 24 in the EU is still unemployed, and the unemployment rate among young persons is still 2.5 times higher than that of adults. The present study shows how young people’s situation in the labor market has developed since 2013. The ...
2017| Karl Brenke
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DIW Economic Bulletin 45 / 2017
2017
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DIW Economic Bulletin 44 / 2017
Central banks frequently intervene in foreign exchange markets. Using recognized criteria this report analyzes the probability of success in a data set of 4,500 intervention episodes in 33 countries. It is important to differentiate among exchange rate regimes because each focuses on a different goal. While flexible exchange rate regimes intervene less frequently and seek to influence trends, other ...
2017| Lukas Menkhoff, Tobias Stöhr