Objective: At work, people are confronted with clear behavioral expectations. In line with the Social Investment Principle, the beginning and ending of working life might thus promote changes in personality traits that are relevant at work (e.g., Conscientiousness). Method: Based on the data from the Socio- Economic Panel Study (SOEP), we examined nuanced differences of the Big Five personality traits ...
The financial sector has an important role in the transition towards a net-zero economy. Moderated by Prof. Dr. Karen Pittel (ifo Institute) this panel will discuss policy options for the financial sector. Karsten Löffler (Green and Sustainable Finance Cluster Germany) will hold a keynote on the recommendations of the German Sustainable Finance Committee. Four panelists will then add...
On Thursday 4 November, the German Institute for Economic Research (DIW Berlin) will hold an EU side event together with the World Resources Institute, Perspectives Climate Group, Frankfurt School and Climate Action Network on climate financing at the COP26. Leading European researchers will present their latest insights into aligning international financial flows with the goals of the Paris...
To reach the climate targets, the course towards a climate-neutral society must be set now. However, the current monitoring instruments in the Climate Change Act do not provide sufficient information to policymakers and society on the effectiveness of policy instruments and programs, as they focus exclusively on greenhouse gas reduction targets, which are subject to uncertainty. Moreover, they only ...
Theory suggests that large firms are more likely to engage in lobbying behaviour and are geographically more mobile compared with smaller entities. Conditional on jurisdiction size, policy choices are thus predicted to depend on the shape of a jurisdiction's firm size distribution, with more business-oriented policies being enacted if jurisdictions host large firms. The paper empirically tests this ...
We estimate the dynamic effects of government spending shocks, using time-varying volatility in US data modeled through a Markov switching process. We find that the average government spending multiplier is significantly and persistently above one, driven by a crowding-in of private consumption and non-residential investment. We rationalize the results empirically through a contemporaneously countercyclical ...
