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The Impact of Macroeconomic Conditions on Long-Term Care: Evidence on Prices

The price of institutional long-term care is a key determinant of the demand for both formal and informal long-term care. In this paper, we examine how the regional unemployment rate as a proxy for macroeconomic conditions influences these prices. Our analysis draws on administrative data that provide detailed information on all nursing homes and ambulatory care services, as well as all recipients ...

The Impact of Financial Support to Firms During Crises: The Case of Covid aid in the EU

The Covid-19 pandemic caused a global economic crisis, leading governments to provide substantial State aid to support firms. This paper examines the effectiveness of Covid-related financial support in Spain and Italy, focusing on its impact on firm recovery. Using a difference-in-differences (DiD) approach combined with propensity score weighting, it compares outcomes of similar firms receiving aid ...

Germany Should Accelerate Its Renewable Energy Transition

Germany’s energy transition relies on variable renewables and electricity use across sectors, and it needs to accelerate. We argue that consistent policy commitments to proven technologies, such as wind and solar power, heat pumps and electric cars are needed.

Stock Market Participation, Work from Home, and Inequality

Stock market participation among working household heads jumped upwards in 2020 - in Germany by about 25 %. A major cause is the required use of work from home (WfH). We show this by adding WfH to a large set of explanatory variables. Moreover, we implement an instrumental variables estimation based on industry-specific levels of WfH-capacity. The transmission channels seem to work via increased available ...

The Reliability of Replications: A Study in Computational Reproductions

This study investigates researcher variability in computational reproduction, an activity for which it is least expected. Eighty-five independent teams attempted numerical replication of results from an original study of policy preferences and immigration. Reproduction teams were randomly grouped into a ‘transparent group’ receiving original study and code or ‘opaque group’ receiving only a method ...

The Long-Term Implications of Destruction During the Second World War on Private Wealth in Germany

By the end of the Second World War, an estimated 20% of the West German housing stock had been destroyed. Building on a theoretical life-cycle model, this paper examines the persistent consequences of the war for individual wealth across generations. As our empirical basis, we link a unique historical dataset on the levels of wartime destruction in 1739 West German cities with micro data on individual ...

Wealth Creators or Inheritors? Unpacking the Gender Wealth Gap from Bottom To Top and Young to Old

There is growing interest in understanding how gender influences the accumulation of wealth. While prior studies focused on labor-related determinants, our research focuses on inheritances and gifts. Using unique survey data that oversamples the top 1% of wealth holders in Germany, we show that the gender wealth gap is small for individuals up to age 40, then widens, and declines for those past retirement ...

Effectiveness and Heterogeneous Effects of Purchase Grants for Electric Vehicles

We evaluate German purchase subsidies for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) using data on new vehicle registrations in Germany dur¬ing 2015-2022. We account for confounding time trends and interacting EU-level CO2 standards using neighboring countries as a control group. We find that 40% of BEV and 25% of PHEV registrations were subsidy-induced. The program ...

Nobody Decides for All — Modeling Incentives and Policies for Closing the Material Loop

Euro Area Inflation Differentials: The Role of Fiscal Policies Revisited