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2019 wird ein gutes Jahr

Was sind die wirtschaftlichen Aussichten für 2019? Ökonomen tun sich schwer mit Prognosen, selbst wenn sie die nahe Zukunft betreffen. Für 2018 hatten viele hohe, wie sich nun herausstellt, viel zu hohe Erwartungen. Aber auch auf dieser Enttäuschung fußt mein Optimismus für 2019. Denn viele Reformen, viele Entwicklungen bleiben unvollendet. Die Erwartungen an das abgelaufene ...

RETHINKING EUROPE

What can be done to counter populist and anti-European movements and keep Europe united? What role can the EU play to advance economic prosperity for its citizens? And how can the EU be a relevant player in a new global (dis-)order? 　 To celebrate Helmut Schmidt’s 100th birthday, the international symposium Rethinking Europe invites the world’s leading experts on European and...

Helping with the Kids? How Family-Friendly Workplaces Affect Parental Well-Being and Behaviour

Despite political efforts, balancing work and family life is still challenging. This paper provides novel evidence on the effect of firm level interventions that seek to reduce the work–life conflict. The focus is on how childcare support affects the well-being, working time, and caring behaviour of mothers with young children. Since the mid-2000s and pushed by public policies, in Germany an increasing ...

Firms’ Financial and Real Responses to Credit Supply Shocks: Evidence from Firm-Bank Relationships in Germany

We investigate the importance of firm-bank relationships for the international transmission of bank distress to the real economy. Using a large panel of matched financial statements of firms of all sizes and their relationship banks in Germany, we find that banks with losses from proprietary trading activities during the 2007/8 financial crisis decreased their lending, and that their firm customers ...

2019 wird nicht das Jahr des wirtschaftlichen Abschwungs, aber ich sehe viele Risiken

Die wirtschaftspolitischen Aussichten für das Jahr 2019 fasst DIW-Präsident Marcel Fratzscher wie folgt zusammen:

Die Furcht des Mannes vor der Gleichstellung

Dieser Beitrag ist am 28. Dezember in der ZEIT ONLINE–Kolumne „Fratzschers Verteilungsfragen“ erschienen. Müssen wir Männer die Gleichstellung von Frauen fürchten? Als weißer, christlicher, deutschstämmiger, heterosexueller und gut ausgebildeter Mann in Deutschland könnte man kaum privilegierter sein und deshalb, so zumindest die ...

Minimum Prices and Social Interactions: Evidence from the German Renewable Energy Program

Minimum prices above the competitive level can lead to allocative inefficiencies. We investigate whether this effect is more pronounced when decision makers are influenced by their social environment. Using data of minimum prices for renewable energy production in Germany, we test if individual decisions to install photovoltaic systems are affected by the investment decisions of others in the area. ...

Change in the Gender Division of Domestic Work after Mothers or Fathers Took Leave: Exploring Alternative Explanations

This study investigates how the durations of childcare leaves taken by mothers and fathers in Germany relate to the gender division of housework and childcare after labour market return. It examines to what extent changes in economic resources because of leave take-up may account for adaptations in the division of domestic work of dual-earner couples. Using data from the German Socio-Economic Panel ...

Nicht besser als Frankreich

The Role of the Exchange Rate in Canadian Monetary Policy: Evidence from a TVP-BVAR Model

A time-varying parameters Bayesian structural vector autoregression (TVP-BVAR) model with stochastic volatility is employed to characterize the monetary policy stance of the Bank of Canada (BoC) in terms of an interest rate rule linking the policy rate to the output gap, inflation and the exchange rate. Using quarterly bilateral Canadian–US data, we find such an interest rate rule to have little explanatory ...