Locational marginal pricing (LMP) provides efficient locational dispatch and investment signals but requires a complementary congestion hedging instrument to function effectively. This paper investigates how exposure to locational price differences is managed in North American nodal electricity markets through the implementation of financial transmission rights (FTRs). Drawing on insights from 15 industry ...
Das Projekt untersucht die Entwicklung der Preisaufschläge im Bausektor vor dem Hintergrund der geplante staatliche Investitionsinitiative in Höhe von 500 Milliarden Euro und den strukturellen Fehlentwicklungen. So sind die Baupreise seit 2010 deutlich stärker gestiegen als die allgemeine Verbraucherpreise, während die Arbeitsproduktivität im selben Zeitraum signifikant zurückgegangen ist. Diese...
The project examines the development of markups in the construction sector against the backdrop of existing strucutral issues and the planned public investment initiative amounting to €500 billion. Inter alia, construction prices have increased significantly more strongly than overall consumer prices since 2010, while labor productivity has declined markedly over the same period. This opposing...
This paper evaluates the scope and coverage of the Common Reporting Standard (CRS), an international automatic exchange of information regime intended to eliminate bank secrecy and reduce cross-border tax evasion. We obtain new, aggregated CRS data from 26 countries, covering roughly 30% of the global amount reported by the OECD for the year 2022. We first show that cross-border financial wealth continues ...
Housing bubbles and crashes are catastrophic events for economies, implying the enormous destruction of housing wealth, the risk of financial defaults, construction unemployment, and business cycle downturns. This chapter investigates whether governmental housing policies can affect the propensity of economies to build up speculative house price bubbles. Specifically, we focus on rent and credit deregulation ...
The introduction of the automatic exchange of bank information under the Common Reporting Standard (CRS) marked a breakthrough in the fight against global financial secrecy. In this report, we evaluate the scope and coverage of the CRS—in a context marked by limited evidence, primarily due to restricted access to CRS data. For this purpose, we have compiled newly aggregated CRS data from 16 countries, ...
Deutschland ist zurzeit die drittgrößte Volkswirtschaft der Welt. Doch die Vorstellung damit verbundener Größe ist falsch. Der deutsche Anteil an der Weltwirtschaft beträgt lediglich 4,3 %, in Kaufkraft gerechnet sogar nur 3,2 %, und er wird weiter sinken. Wirtschaftlich bedeutend sind heute allein die USA und China, Deutschland war einmal groß – vor mehr als 100 Jahren. Heute kann Deutschland nur ...
