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2087 Ergebnisse, ab 81
  • Diskussionspapiere 2004 / 2022

    Durable Consumption, Limited VAT Pass-Through and Stabilization Effects of Temporary VAT Changes

    This paper revives the question of whether a temporary VAT change is an adequate instrument for crisis stabilization. In empirical assessments, we find that durable goods consumption fluctuates strongly over the business cycle and that VAT rate changes affect durable goods in particular. Therefore, we build a dynamic stochastic general equilibrium (DSGE) model that is capable of addressing this major ...

    2022| Marius Clemens, Werner Röger
  • Diskussionspapiere 2003 / 2022

    Stranded Assets in the Coal Export Industry? The Case of the Australian Galilee Basin

    Steam coal exporters face increasing uncertainty about future coal demand and risks of asset stranding. Nevertheless, new export-oriented coal mine projects are still brought forward. In this study, we use the coal sector model COALMOD-World to assess the economic prospects of investments in the export-oriented steam coal sector, and in particular of coal mines in the Galilee Basin, Australia. We parameterize ...

    2022| Christian Hauenstein, Franziska Holz, Lennart Rathje, Thomas Mitterecker
  • Diskussionspapiere 2002 / 2022

    Pandemic Depression: COVID-19 and the Mental Health of the Self-Employed

    We investigate the effect of the COVID-19 pandemic on self-employed people’s mental health. Using representative longitudinal survey data from Germany, we reveal differential effects by gender: whereas self-employed women experienced a substantial deterioration in their mental health, self-employed men displayed no significant changes up to early 2021. Financial losses are important in explaining these ...

    2022| Marco Caliendo, Daniel Graeber, Alexander S. Kritikos, Johannes Seebauer
  • Diskussionspapiere 2001 / 2022

    The Gender Gap in Lifetime Earnings: The Role of Parenthood

    To obtain a more complete understanding of the persisting gender earnings gap in Germany, this paper investigates both the cross-sectional and biographical dimension of gender inequalities. Using an Oaxaca Blinder decomposition, we show that the gender gap in annual earnings is largely driven by women’s lower work experience and intensive margin of labor supply. Based on a dynamic microsimulation model, ...

    2022| Rick Glaubitz, Astrid Harnack-Eber, Miriam Wetter
  • Diskussionspapiere 2000 / 2022

    How Communication Makes the Difference between a Cartel and Tacit Collusion: A Machine Learning Approach

    This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit cartel formation and indirect attempts to collude tacitly. We document that firms are less likely to communicate explicitly about price fixing and more likely ...

    2022| Maximilian Andres, Lisa Bruttel, Jana Friedrichsen
  • Diskussionspapiere 1999 / 2022

    Forward to the Past: Short-Term Effects of the Rent Freeze in Berlin

    In 2020, Berlin introduced a rigorous rent-control policy responding to soaring rents by setting a cap on rental prices: the Mietendeckel (rent freeze). The policy was revoked one year later by the German Constitutional Court. Although successful in reducing rents during its duration, the consequences for Berlin’s rental market and adjacent municipalities are not clear. In this paper we evaluate the ...

    2022| Anja M. Hahn, Konstantin A. Kholodilin, Sofie R. Waltl, Marco Fongoni
  • Diskussionspapiere 1998 / 2022

    Facebook Shadow Profiles

    Data is often at the core of digital products and services, especially when related to online advertising. This has made data protection and privacy a major policy concern. When surfing the web, consumers leave digital traces that can be used to build user profiles and infer preferences. We quantify the extent to which Facebook can track web behavior outside of their own platform. The network of engagement ...

    2022| Luis Aguiar, Christian Peukert, Maximilian Schäfer, Hannes Ullrich
  • Diskussionspapiere 1997 / 2022

    Stimulating Housing Policy and Housing Tenure Choice: Evidence from the G7 Countries

    Housing affordability is a hotly debated issue on global scale. A lack of affordable housing of decent quality is a chronic problem in urban areas. Governments try to alleviate it by stimulating homeownership among middle-income households and providing social housing for the low-income households. Such policies are very costly. Thus, this study aims to assess at least tentatively the effectiveness ...

    2022| Eugeniya Malinskaya, Konstantin A. Kholodilin
  • Diskussionspapiere 1996 / 2022

    The Effect of Social Comparison on Debt Taking: Experimental Evidence

    A number of studies show that there is a link between social comparison and high levels of household debt. However, the exact mechanisms behind this link are not yet well understood. In this paper, we disentangle two mechanisms by performing a lab experiment designed to study the effects of social image concerns and peer information on consumption choices financed through debt taking. We find that ...

    2022| Antonia Grohmann, Melanie Koch
  • Diskussionspapiere 1995 / 2022

    A Behavioral Heterogeneous Agent New Keynesian Model

    We develop a New Keynesian model with household heterogeneity and bounded rationality in the form of cognitive discounting. The interaction of household heterogeneity and bounded rationality generates amplification of monetary and fiscal policy through indirect general equilibrium effects while simultaneously ruling out the forward guidance puzzle and remaining stable at the effective lower bound. ...

    2022| Oliver Pfäuti, Fabian Seyrich
  • Diskussionspapiere 1994 / 2022

    House Price Expectations

    This study examines short-, medium-, and long-run price expectations in housing markets. We derive and test six hypothesis about the incidence, formation, and relevance of price expectations. To do so, we use data from a tailored household survey, past sale and rental offerings, satellites, and from an information RCT. As novel findings, we show that price expectations exhibit mean reversion in the ...

    2022| Niklas Gohl, Peter Haan, Claus Michelsen, Felix Weinhardt
  • Diskussionspapiere 1993 / 2022

    Sovereign Bonds since Waterloo

    This paper studies external sovereign bonds as an asset class. It compiles a new database of 266,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the Battle of Waterloo) and 2016, covering up to 91 countries. The main insight is that, as in equity markets, the returns on external sovereign bonds have been sufficiently high to compensate for risk. Real ...

    2022| Josefin Meyer, Carmen M. Reinhart, Christoph Trebesch
  • Diskussionspapiere 1992 / 2022

    Foreign Debt, Capital Controls, and Secondary Markets: Theory and Evidence from Nazi Germany

    We investigate how internal distribution motives can interfere with the economic objectives of capital controls. In order to do this, we provide a model showing that elite capture can affect optimal debt repatriations and the management of official reserves under capital controls. Relying on these theoretical insights and a wealth of quantitative and qualitative historical evidence, we study one of ...

    2022| Andrea Papadia, Claudio A. Schioppa
  • Diskussionspapiere 1991 / 2022

    Income-Dependent Equivalence Scales and Choice Theory: Implications for Poverty Measurement

    Equivalence Scales are a tool for removing the heterogeneity of household sizes in the measurement of inequality, and affect poverty assessments and poverty lines. We address the disadvantage that poor households may suffer due to their reduced ability to share goods within the household. This disadvantage is important to estimate and embed in standard analysis, as it seems to have a substantial quantitative ...

    2022| Christos Koulovatianos, Carsten Schröder
  • Diskussionspapiere 1990 / 2022

    The Signalling Channel of Negative Interest Rates

    Negative interest rates remain a controversial policy for central banks. We study a novel signalling channel and ask under what conditions negative rates should exist in an optimal policymaker’s toolkit. We prove two necessary conditions for the optimality of negative rates: a time-consistent policy setting and a preference for policy smoothing. These conditions allow negative rates to signal policy ...

    2022| Oliver de Groot, Alexander Haas
  • Diskussionspapiere 1989 / 2021

    Way Off: The Effect of Minimum Distance Regulation on the Deployment and Cost of Wind Power

    With the expansion of onshore wind power, countries increasingly consider the introduction of minimum distance regulations between wind turbines to nearby residential areas, to increase public acceptance. In 2014, the German federal state of Bavaria introduced a minimum distance regulation that requires new wind turbines to be ten times their total height away from settlements (10-H regulation). This ...

    2021| Jan Stede, Marc Blauert, Nils May
  • Diskussionspapiere 1988 / 2021

    Broadband and Productivity: Structural Estimates for Germany

    We study the impact of broadband availability on firms’ total factor productivity (TFP) using German firm-level data between 2010 and 2015. We adopt a control function approach to causally identify and separately estimate productivity for 46 two-digit manufacturing and service sectors. Over the sample period, broadband availability, measured by 16 Mbps transmission rates, more than doubled in German ...

    2021| Tomaso Duso, Mattia Nardotto, Alexander Schiersch
  • Diskussionspapiere 1987 / 2021

    Competitors’ Reactions to Big Tech Acquisitions: Evidence from Mobile Apps

    Since 2010, Google, Apple, Facebook, Amazon, and Microsoft (GAFAM) have acquired more than 400 companies. Competition authorities did not scrutinize most of these transactions and blocked none. This raised concerns that GAFAM acquisitions target potential competitors yet fly under the radar of current merger control due to the features of the digital economy. We empirically study the competitive effects ...

    2021| Pauline Affeldt, Reinhold Kesler
  • Diskussionspapiere 1986 / 2021

    Rising Allowances, Rising Rates: A Tinbergen Rule for Capital Taxation

    The system of capital taxation consists of two instruments, namely a tax on profits and a depreciation allowance on investment. We will show in this paper that by acting on both instruments simultaneously it is possible to achieve both a growth and a fiscal net revenue target even in cases when a trade off prevails when each instrument is used individually. This is an application of the Tinbergen rule ...

    2021| Marius Clemens, Werner Röger
  • Diskussionspapiere 1985 / 2021

    The Effects of an Increase in the Retirement Age on Health: Evidence from Administrative Data

    This study analyzes the causal effect of an increase in the retirement age on health. We exploit a sizable cohort-specific pension reform for women using two complementary empirical approaches - a Regression Discontinuity Design and a Difference-in- Differences approach. The analysis is based on official records covering all individuals insured by the public health system in Germany and including all ...

    2021| Mara Barschkett, Johannes Geyer, Peter Haan, Anna Hammerschmid
2087 Ergebnisse, ab 81
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