Rising inflation complicates the alignment of the ECB’s policies with the Paris Agreement. This paper provides novel evidence for inflationary pressures arising from natural disasters. We then discuss the effectiveness of monetary instruments to boost a green transition, concluding that the scope of policy measures used thus far is limited. As additional measures, we advise active rebalancing of the ...
Who makes it to the top? We use the leading, socio-economic survey in Germany supplemented by extensive data on the rich to answer this question. We identify the key predictors for belonging to the top 1 percent of income, wealth, and both distributions jointly. Although we consider many, only a few traits matter: Entrepreneurship and self-employment in conjunction with a sizable inheritance of company ...
This paper studies the impact of generative AI technology on the demand for online freelancers using a large dataset from a leading global freelancing platform. We focus on how the release of generative AI tools affects various freelance jobs that require different skills or software. Our findings indicate a 21 percent decrease following the ChatGPT introduction in the number of job posts for...
How are market imperfections in different input markets related? I show theoretically that the extent of buyer power in intermediate input markets determines both wages and wages relative to the marginal revenue contribution of employees if collective bargaining characterizes labor markets. This relationship is examined empirically using data on the universe of Dutch manufacturing firms from 2007...
Entrepreneurs tend to be risk tolerant but is more risk tolerance always better? In a sample of about 2,100 small businesses, we find an inverted U-shaped relation between risk tolerance and profitability. This relationship holds in a simple bilateral regression and also when we control for a large set of individual and business characteristics. Apparently, one major transmission goes from risk tolerance ...
Das Statistische Bundesamt hat heute die vorläufige Inflationsrate für das Jahr 2023 veröffentlicht. Dies kommentiert DIW-Präsident Marcel Fratzscher:
Whether vaccination refusal is perceived as a social norm violation that affects layoff decisions has not been tested. Also unknown is whether ascribed low-status groups are subject to double standards when they violate norms, experiencing stronger sanctions in layoff preferences and expectations, and whether work performance attenuates such sanctioning. Therefore, we study layoff preferences and expectations ...
Wegen der Hochwasserkatastrophe in Niedersachsen und anderen Bundesländern wird aktuell diskutiert, die Schuldenbremse auszusetzen. DIW-Präsident Marcel Fratzscher kommentiert diesen Vorschlag wie folgt:
