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Revisiting Investment Costs for Green Steel: Capital Expenditures, Firm Level Impacts, and Policy Implications

The transition of the steel sector to carbon neutrality requires significant investment. In this study, we aim to better understand the scale of investment required for a transition to hydrogen-based steelmaking and the ability of listed steelmakers to finance this investment. First, we analyze how capital expenditures are estimated in the academic literature and compare them with reported investment ...

Meet My Family: the Effect of Female CEOs’ Newspaper Coverage on Financial Decision Making

Newspaper coverage of firms’ CEOs is highly gendered. This presents a bias in itself but it might also have consequences for investments into the firm. In a survey experiment (N=tbd), we identify the causal impact of differential newspaper coverage for female and male CEOs on four outcomes: expected firm performance, investment into the firm, expected CEO ‘survival’, and expected performance in...

Bürgergeld statt Hartz IV: Jobcenterbeschäftigte sehen kaum Verbesserungen

DIW-Studie in Kooperation mit der Universität Bochum liefert erste empirische Analyse des Bürgergelds – Jobcenterbeschäftigte bewerten neue Regeln mehrheitlich skeptisch – Positiv beurteilt wird vor allem das verbesserte Coaching-Angebot Langzeitarbeitsloser – Versachlichung der Debatte gefordert Heftig umstritten und nur mit großen Kompromissen wurde im Januar 2023 das Bürgergeld eingeführt, das ...

„Die Geldpolitik darf nicht mit zusätzlichen wirtschaftspolitischen Aufgaben überfrachtet werden“

Sara Dietz und Kerstin Bernoth haben gemeinsam mit weiteren Autoren eine Studie zu den Erfolgen des Euro in seinen ersten 25 Jahren durchgeführt. Im Redaktionsgespräch betonen sie, dass sie nicht lange nach Erfolgen suchen mussten. Demnach sei der Euro die zweitwichtigste Währung der Welt. Eine weitere Erweiterung der Währungsunion erachten sie nur als sinnvoll, wenn wirtschaftlich starke und finanziell ...

Labour Supply and Survivor Insurance in the Netherlands

This paper investigates the effects of survivor benefits (SB) on the labour supply of widows. Using richadministrative data on the Dutch population and a reform that considerably restricted eligibility to SB, weidentify the causal effect of SB on labour supply. Using a regression discontinuity design strategy based onthe cohort-based implementation of the reform, we show that labour income after spousal ...

Is There an Information Channel of Monetary Policy?

Exploiting the heteroscedasticity of the changes in short-term and long-term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy shocks. We eliminate the predictable part of the shocks and study their effects on financial variables and macro variables. The first shock resembles a conventional monetary policy shock, and the second resembles an ...

Thermal Retrofitting of Worst Performing Buildings Mitigates Risk of High Heating Costs

The pace of thermal retrofit of buildings in Germany remains slow. A Worst-First approach, prioritizing the retrofit of inefficient buildings, would address energy- and social policy objectives and deliver economic and climate benefits. Data from the German Socio-Economic Panel (SOEP) show how such an approach would protect especially low-income households often living in very inefficient buildings ...

Sustainable Finance Taxonomies: Enabling the Transition towards Net Zero? A Transition Score for International Frameworks

A plethora of sustainable finance taxonomies are emerging worldwide to support shifting trillions for climate action. Employing a qualitative research approach, we use document analysis to assess 26 sustainable finance taxonomy frameworks worldwide that are in the developing phase or have been published and/or adopted. Based on literature and data we build a transition score (TS) to evaluate the framework’s ...

What are the distributional advantages of retrofitting?

Long-Run Consequences of Informal Elderly Care and Implications of Public Long-Term Care Insurance

We estimate a dynamic structural model of labor supply, retirement, and informal caregiving to study short and long-term costs of informal caregiving in Germany. Incorporating labor market frictions and the German tax and benefit system, we find that in the absence of Germany’s public long-term insurance scheme, informal elderly care has adverse and persistent effects on labor market outcomes and, ...