The political discussion to reduce the carbon footprint of Germany’s electricity sector,focusing on coal, is intensifying. In this paper, we develop scenarios for phasing out lignite and hardcoal power plants in Germany prior to the end of their technical lifespan (“coal-exit”). Our analysisbases upon two coal-exit instruments, the retirement of coal generation capacities and the limitingof how much ...
In the project, calculations are to be carried out on the return on different forms of old-age provision for three types of individuals: low earners, average earners and high earners. A distinction is made between calculations for the statutory pension insurance (GRV) and for company pensions (BAV). The main aim is to show how different legal regulations in the GRV and BAV that will be effective...
The Project “Mentoring of Refugees” (MORE) implements a randomized controlled trial (RCT) into an existing survey on refugees in Germany. The treatment is the participation in a mentoring relationship with a local resident, which is organized by a non-profit organization. The project aims at analyzing whether mentoring programs between refugees and local residents impact refugees’ integration trajectories. ...
Abstract: I derive an optimal benefit-based corporate tax rate formula as a function of the public input elasticity of profits and the (net of) tax elasticity of profits. I argue that the existence of the corporate income tax should be justified by the benefit-based view of taxation: firms should pay tax according to the benefits they receive from the use of the public input. I argue that...
The article analyses the empirical relationship between bank credit risk and sovereign credit risk in the euro area, using a system of simultaneous equations identified through heteroskedasticity. We first confirm a two-way causality between both risks, which amplifies initial credit risk shocks. We also document significant credit risk spillovers between sovereigns and banks in the periphery and the ...
This paper analyzes whether education has a protective effect on mental health. To estimate causal effects, we employ an instrumental variable (IV) technique that exploits a reform extending compulsory schooling by one year implemented between 1949 and 1969 in West Germany. We complement analyses on the Mental Component Summary (MCS) score as a generic measure of overall mental health with an MCS-based ...
Multivariate Adaptive Regression Spline (MARS) is a simple and powerful non-parametric technique that automatizes the selection of non-linear terms in regression models. Non-linearities and spatial effects are natural characteristics in numerous spatial hedonic pricing models. In this paper, we propose using the MARS data-driven methodology combined with the Instrumental Variables method in order to ...
