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Donald Trump wird Strafzölle auf deutsche Autos als Druckmittel missbrauchen

Floating with a Load of FX Debt?

Countries with de jure floating exchange rate regimes are often reluctant to allow their currencies to float freely in practice. One reason why countries may wish to limit exchange rate volatility is potential negative balance sheet effects due to currency mismatches on the balance sheets of firms and households. In this paper, we show in a sample of 15 emerging market economies that countries with ...

Care & Careers: Housework Distribution and Occupational Prestige

Despite increasing female labor market participation over the past decades care duties are hardly been shared more equally within couples. We challenge existing approaches (time availability theory, relative resources approach) on the formation of care arrangements with the human capital theory focusing on the consequences of an unequal distribution of housework. We argue that couples make...

Empirical Advances in the Measurement and Analysis of Violent Conflict

Violent conflict is one of the most persistent challenges affecting the economic livelihoodsand food security of individuals worldwide. Despite the surge in literature studying theimpacts and drivers of armed conflict, there remains notable knowledge and methodologicalgaps, particularly regarding the quality of conflict event data. Using variousadvanced econometric and statistical techniques, this ...

Monetary Policy, External Instruments and Heteroskedasticity

We develop a structural vector autoregressive framework that combines external instruments and heteroskedasticity for identification of monetary policy shocks. We show that exploiting both types of information sharpens structural inference, allows testing the relevance and exogeneity condition for instruments separately using likelihood ratio tests, and facilitates the economic interpretation of the ...

Filling Gaps in the Policy Package to Decarbonise Production and Use of Materials

Homeownership and Wealth in Switzerland and Germany

Property wealth represents the most important wealth component in nearly all OECD countries. Homeownership is linked to wealth accumulation in several ways: Wealthier households are more likely to buy a house or apartment, home owners tend to save more and rising house values typically yield higher returns than money in a bank account. Moreover, owners can borrow on a mortgage to finance, e.g., the ...

Does Financial Literacy Improve Financial Inclusion? Cross Country Evidence

While financial inclusion is typically addressed by improving the financial infrastructure, we show that a higher degree of financial literacy also has a clear beneficial effect. We study this effect at the cross-country level, which allows us to consider institutional variation. Regarding “access to finance”, financial infrastructure and financial literacy are mainly substitutes. However, regarding ...

The Greek Private Sector Remains Full of Untapped Potential

Private businesses’ nominal value added in Greece has fallen by 38 percent over the last ten years. Micro firms were hit particularly hard. Despite efforts to stabilize the macroeconomic environment, there are only weak signs of recovery. Future prospects are not much better, as—with the exception of labor market regulations—the conditions for investments and business activities have not been sufficiently ...

The Greek private sector remains full of untapped potential

Private businesses’ nominal value added in Greece has fallen by 38 percent over the last ten years. Micro firms were hit particularly hard. Despite efforts to stabilize the macroeconomic environment, there are only weak signs of recovery. Future prospects are not much better, as—with the exception of labor market regulations—the conditions for investments and business activities have ...