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The Efficiency of the Sustainability-Linked Bond Market for a Successful Sustainability Transition

Für die Transformation der europäischen Wirtschaft mit dem Ziel der Klimaneutralität bis 2050 hat die Europäische Union in den letzten Jahren weitreichende Nachhaltigkeitsverordnungen beschlossen. Diese sollen insbesondere den Privatsektor in die Richtung nachhaltiger wirtschaftlicher Aktivitäten lenken. In diesem Zusammenhang wurde ein neues Finanzierungsinstrument entwickelt, das die Nachhaltigkeitstransformation ...

Book Review : Unurjargal Nyambuu and Willi Semmler: Sustainable Macroeconomics, Climate Risks and Energy Transitions, Cham/Switzerland: Springer Nature, 2023 ...

Earn More Tomorrow: Overconfidence, Income Expectations and Consumer Indebtedness

This paper examines whether biased income expectations due to overconfidence lead to higher levels of debt-taking. We show suggestive evidence for a link between overconfidence and borrowing behavior in a representative survey of German households (GSOEP-IS). This motivates a laboratory experiment to study causality behind these effects. In two experiments, participants can purchase goods by borrowing ...

Energetische Gebäudesanierung muss wieder in Schwung gebracht werden

Access to Digital Finance: Equity Crowdfunding across Countries and Platforms

Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding in terms of the relationship between the number of investors and the amount of money raised per pitch. We examine heterogeneity in the average amount raised per pitch that is associated ...

Integrating Out Natural Disaster Shocks

We study the role of international financial integration in buffering natural disaster shocks, using a large sample of advanced and emerging economies. Conditioning on such exogenous events addresses the endogeneity between financial structures and economic conditions. We document that integration improves shock absorption: output, consumption, and investment are significantly higher after a shock ...

DIW Berlin Economic Forecast: Forecast Ranges from Cloudy to Bright

The recovery of the German economy is becoming an exercise in patience. In the third quarter of 2023 the economy fared worse than expected, in particular because private households continued to spend their money conservatively despite climbing wages and falling inflation. Both private consumption and overall economic output even declined slightly. Now the next challenge has arrived: In November 2023, ...

An Analysis of the Implementation of the EU-Canada Comprehensive Economic and Trade Agreement (CETA): In-Depth Analysis

This in-depth analysis offers a quantitative analysis of the Comprehensive Economic and Trade Agreement (CETA) between the EU and Canada, six years after its provisional enforcement. Our analysis confirms substantial economic gains: goods exports from the EU to Canada increased by 27 % and imports rose by 32 % due to the agreement. The services sector also showed robust growth, with 19 % and 15 % increases ...

Social Dynamics and Affect: Investigating Within-Person Associations in Daily Life Using Experience Sampling and Mobile Sensing

Social interactions are crucial to affective well-being. Still, people vary interindividually and intraindividually in their social needs. Social need regulation theories state that mismatches between momentary social desire and actual social contact result in lowered affect, yet empirical knowledge about this dynamic regulation is limited. In a gender- and age-heterogenous sample, German-speaking ...

Green or Greedy: The Relationship between Perceived Benefits and Homeowners’ Intention to Adopt Residential Low-carbon Technologies

Transitioning to a net-zero economy requires a nuanced understanding of homeowners’ decision-making pathways when considering the adoption of Low Carbon Technologies (LCTs). These LCTs present both personal and collective benefits, with positive perceptions critically influencing attitudes and intentions. Our study analyses the relationship between two primary benefits: the household-level financial ...