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Designing Hedging Instruments for Locational Price Risks – Lessons from North American Financial Transmission Rights

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 ...

Steigende Preise, fallende Produktivität, höhere Mark-ups? – Analyse der Marktbedingungen in der Bauwirtschaft

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...

Increasing Prices, Declining Productivity, higher Markups? – Analysis of Market Conditions in the Construction Industry

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...

Did Automatic Exchange of Information End Bank Secrecy? Evidence from Aggregate Administrative Data

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 ...

Government-Made House Price Bubbles? Austerity, Homeownership, Rental and Credit Liberalization Policies, and "Irrational Exuberance" on Housing Markets

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 ...

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Assessing the Coverage of the Automatic Exchange of Information under the CRS

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, ...

Insurance, Redistribution, and the Inequality of Lifetime Income

Individuals vary considerably in how much they earn during their lifetimes. This study examines the role of the tax‐and‐transfer system in mitigating such inequalities, which could otherwise lead to disparities in living standards. Utilizing a life‐cycle model, we determine that the tax‐and‐transfer system offsets 45% of lifetime earnings inequality attributed to differences in productive abilities ...

Konjunkturprognose

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Übersicht der Prognosen Die Konjunkturprognose beschreibt neben der aktuellen wirtschaftlichen Lage auch die Risiken, mit denen die Wirtschaft konfrontiert ist. Anhand der Prognose kann beispielsweise der Staat seine Ausgaben planen und auch Maßnahmen ergreifen, damit bestimmt prognostizierte Entwicklungen nicht eintreten. Das DIW Berlin veröffentlicht ...

Economic Outlook

2025 2024 2023 2022 2021 2020 Overview of DIW Economic Outlook The economic outlook describes the current economic situation and the risks facing the economy. The outlook enables the government, for example, to plan its spending and take measures to prevent certain predicted developments from occurring. Every quarter, DIW Berlin publishes current economic outlook for the current and following year: ...