Mallorca is the most popular foreign travel destination for German tourists, with almost five million flying to the Balearic island every year. However, the coronavirus pandemic brought passenger air traffic to a virtual standstill in March 2020. Flights to Mallorca resumed in June 2020, but the seat offerings were only between ten and 86 percent of the 2019 level depending on the week. This Weekly ...
2021| Albert Banal Estañol, Wolfgang Grimme, Sven Maertens, Jo Seldeslachts, Christina Stadler
The OECD recommends its member countries implement national strategies for financial education. Many other countries, such as China and India, also have such strategies, whereas Germany does not. The strongest reason for rejecting such a strategy is the supposition that financial education interventions are ineffective. Using all available randomized experimental studies, this study investigates and ...
The German economy is taking longer than expected to overcome the pandemic: It is likely to increase by only 2.1 percent in 2021 and capacities remain markedly underutilized. In addition, global supply bottlenecks are affecting German industry, resulting in stalled domestic production despite high demand. Following a profitable summer due to low case numbers and progress in the vaccination campaign, ...
2021| Marius Clemens, Simon Junker, Laura Pagenhardt
Recently, the coronavirus pandemic has caused economic developments in major economies to drift apart: While infection rates were declining and production was experiencing strong growth in places such as Europe and the United States in the second quarter of 2021, emerging economies were experiencing strict economic restrictions due to high case numbers. In some of these countries, the economy declined. ...
2021| Guido Baldi, Geraldine Dany-Knedlik, Hella Engerer, Frederik Kurcz
The mandate of the European Central Bank’s monetary policy is to ensure price stability. Interest rate changes by the ECB affect labor costs and the value added of firms. If both dimensions are not equally affected, monetary policy has a distributive effect between workers and shareholders. Balance sheet data from over two million companies in the euro area show that the labor costs in labor-intensive ...
Childcare workers are essential for both families and society at large, and their working conditions and pay are often a topic of discussion. Using new data spanning until the end of 2019 from the Socio-Economic Panel (SOEP) as well as a special SOEP additional survey in day care centers, this report shows how childcare workers view their occupation, day-to-day work, and pay. According to the data, ...
2021| Ludovica Gambaro, C. Katharina Spieß, Franz G. Westermaier
In the last decades, many European hospital markets witnessed a wave of mergers leading to increased levels of market concentration. The effects of hospital mergers and the effectiveness of competition enforcement have been discussed by politicians but understudied by academics. This report studies how hospital mergers impact hospital service provision by focusing on the French hospital industry from ...
To limit global warming to 1.5 degrees Celsius, it is necessary for industrialized countries to support developing countries financially. The channels and mechanisms under which this support would be provided are known as International Climate Finance. Building upon expert interviews with a focus on the industrial sector, this report analyses the different areas of International Climate Finance and ...
2021| Heiner von Lüpke, Charlotte Aebischer, Karsten Neuhoff
With its America First strategy, the former US administration turned away from an internationally oriented trade policy. It attempted to assert its interests, especially vis-à-vis China, with bilateral and mostly restrictive measures such as import tariffs. This Weekly Report shows that the costs of such a strategy are immense, at least in the medium-term analysis conducted: Almost all US industries ...
Due to ambitious climate change targets and other energy and industrial policy goals such as the nuclear phase-out, the energy transition in Germany is heading toward a completely renewable energy system. This Weekly Report is the first to describe scenarios for 100 percent renewable energy coverage in Germany and, furthermore, shows it is both possible and realistic. In such a scenario, no more fossil ...
2021| Leonard Göke, Claudia Kemfert, Mario Kendziorski, Christian von Hirschhausen
Real estate is taxed at comparatively low rates in Germany, with primarily the affluent benefiting from numerous existing tax privileges. This Weekly Report describes the current state of real estate taxation in Germany and outlines reform proposals that could increase tax revenue, improve the efficiency of the tax system, and reduce wealth and income inequality. In the case of property tax, value-based ...