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Distributional Effects of Macroeconomic Policies in Europe

Political measures at the level of the European Union are intended, among other things, to ensure the stability of the economic and monetary union. This includes, for example, the establishment of the European Recovery Fund, which can be a first step towards a fiscal union in the Eurozone. The project examines how these, and other economic policy measures affect inequality between households. The...

Wealth policy instruments and wealth inequality

Development of a dynamic framework to depict and compare the effects of wealth policy instruments in the short, medium, and long term. Among the examined instruments are a general wealth tax, a social inheritance, and a social dividend.

Social-ecological transformation index

This project assesses the sustainability of the German economy by recognizing that environmental degradation is not limited to carbon emissions or confined by national borders. It complements existing sustainability indicators by combining environmentally-extended input-output (EE-IO) tables with national-level sustainability thresholds based on the planetary boundary framework introduced by...

The Political Economy of Emigration and Immigration

International migration emerges as an important driver of globalization since migrants play a salient role in diffusing international norms and practices across borders. Through a variety of channels migrants are capable of encouraging democratic behavior back in their countries of origin. On the other hand, immigration is commonly at the forefront of political debates in hosting economies of migrants, ...

The Impacts of Global Risk and US Monetary Policy on US Dollar Exchange Rates and Excess Currency Returns

We examine the causal relationship between US monetary policy shocks, exchange rates and currency excess returns for a sample of eight advanced countries over the period 1980M1 to 2022M11. We find that the dynamics of the US dollar exchange rate is the main driver of currency excess returns. The exchange rate is significantly affected by US monetary policy shocks, where the persistence of this shock ...

The EU 2040 target - How can it make climate policies more effective?

In the recently published communication on the EU 2040 Climate Target, the European Commission outlines the final "stepping stone" on the way to EU climate neutrality by 2050. It not only entails reducing net greenhouse gas emissions by 90% until the year 2040 but also outlines transformative developments in key sectors. In our next Berlin Seminar, we will discuss the proposed European strategy...

A Collective Blueprint, Not a Crystal Ball: How Expectations and Participation Shape Long-Term Energy Scenarios

The development of energy systems is not a technocratic process but equally shaped by societal and cultural forces. Key instruments in this process are model-based scenarios describing a future energy system. Applying the concept of fictional expectations from social economics, we show how energy scenarios are tools to channel political, economic, and academic efforts into a common direction. To impact ...

Not Only a Mild Winter: German Consumers Change Their Behavior to Save Natural Gas: Commentary

Gender Gaps in Early Wage Expectations

Using detailed data from a unique survey of high school graduates in Germany, we document a gender gap in expected full-time earnings of more than 15%. We decompose this early gender gap and find that especially differences in coefficients help explain different expectations. In particular, the effects of having time for family as career motive and being first-generation college student are associated ...

Long term care and migration

Organizing long-term care (LTC) is one of the most pressing challenges for the coming years, both societally and politically. Across OECD countries, the proportion of individuals aged 80 and above will increase from an average of nearly five to almost ten percent of the population by 2050 (OECD, 2020). This rapid aging will have sizable implications for the demand and provision of LTC. The issue...