There are now several proposals for complementing the vigorous decision of the ECB to launch a mega ‘pandemic emergency purchase programme’ with fiscal and financial initiatives at the European level. These proposals sometimes overlap, which is a good sign of convergence. This column argues that they are also largely complementary to one another. Hence, it calls for a multi-instrument approach ...
The testing of measurement invariance (MI) across different cultural backgrounds for short screeners of mental health has been mostly neglected. Therefore, we examined MI in the most common mental health screeners worldwide used to assess the psychological indicators of health among migrants and refugees: the Short-Form-12 Health Survey (SF-12) for health-related quality of life and the Patient Health ...
A number of studies show that there is a link between social comparison and high levels of household debt. However, the exact mechanisms behind this link are not yet well understood. In this paper, we perform a lab experiment designed to study the effects of social image concerns and peer information on consumption choices that can be financed through debt taking. We find that having to announce one's ...
„Zeit ist der essenzielle Faktor“ für die Chancen auf Erholung der Wirtschaft. Die Exit-Strategie muss jetzt klar werden. Gastbeitrag Dieser Beitrag ist am 28. März 2020 im Tagesspiegel erschienen. Die Rufe nach einer Ausstiegsstrategie werden lauter, aber Bundeskanzlerin Angela Merkel hat den Forderungen nach einer baldigen Lockerung der Einschränkungen eine deutliche ...
A regime shift toward increased inflation expectations is credited with jump-starting the recov- ery from the Great Depression in the United States. What role did inflation expectations play in Germany that experienced a similarly successful economic upturn in the 1930s? We study infla- tion expectations in the German recovery across several methods: we conduct a narrative study of media sources; we estimate ...
The European Commission’s Scoreboard of Macroeconomic Imbalances is a rare case of a publicly released early warning system. It was published first time in 2012 by the European Commission as a reaction to public debt crises in Europe. So far, the Macroeconomic Imbalance Procedure takes a one-size-fits-all approach with regard to the identification of thresholds. The experience of Central and Eastern ...
