As a result of Britain’s decision to leave the EU, global economic output is likely to grow at a somewhat slower pace than anticipated. The decision will have consequences for the UK and for the euro area in particular; this is also confirmed by simulations produced by the National Institute Global Econometric Model (NiGEM). An expected deterioration of economic relations—especially between the UK ...
The United Kingdom's exit from the European Union will have far- reaching implications for the British financial sector. London is currently the financial capital of Europe, and the UK's financial institutions benefit from passport rights that allow them to provide their services throughout the Single Market. The UK plays two key roles in the European financial system: the first as a major hub for ...
Private wealth is a crucial factor for the economic well‐being of households. Key determinants of private wealth include intergenerational wealth transfers (gifts and inheritances), which are gaining importance since 1990, as research suggests. We conduct a detailed investigation of the distribution of wealth transfers in eight Euro‐area countries. First, we investigate the patterns of prevalence and ...
The Brexit vote has considerably increased economic uncertainty in Europe and beyond. It will likely affect economic performance and in particular investment in the euro area, which are both already relatively weak. The impact of this uncertainty shock on the euro area and the German economy is estimated with an econometric framework. A counterfactual analysis indicates that the uncertainty associated ...
Zum Schutz des Klimas ergreift die Politik in Deutschland und Europa eine Vielzahl an Maßnahmen. So wird der europäische Emissionshandel durch zahlreiche Arten der Innovations- und Investitionsförderung ergänzt, aber auch durch andere Anreize sowie Informationsbereitstellung und durch Regulierungsmaßnahmen zur Nutzung neuer Technologien. Dieser Politikmix wirft die Frage auf, welche Politikinstrumente ...
This paper studies the determinants of return migration by applying the Cox hazard model to longitudinal micro data from 1996 to 2012, including immigrants of a wide range of nationalities. The empirical results reveal the validity of the life cycle model of Migration Economics and a strong return probability decreasing effect of labor market integration and societal integration. Modeling non-proportional ...
