This paper aims to shed some lights on the integration patterns of different labor migrant cohorts in Germany. The migrant cohorts here contain three different groups. First, the immigrants who migrated before 1984, the second group are individuals who arrived in Germany between 1995-2007 and the last group are the people who migrated between 2008-2013. The migrant cohorts and data analysis...
Founded in 1925, DIW Berlin (the German Institute for Economic Research) is one of the leading economic research institutes in Germany. The institute analyzes the economic and social aspects of topical issues, formulating and disseminating policy advice based on its research findings. DIW Berlin is part of both the national and international scientific communities, provides research infrastructure...
Noticing the adoption of unconventional measures of monetary policy in major currency areas on the one hand and continuing globalisation and integration of international financial markets on the other hand, we analyse the linkages between monetary policy and asset prices. Apart from excess asset valuation, we consider second order dynamics (uncertainties, tail risks) as specific threats to...
If the present behavior of forward-looking economic agents is driven by their expectations about the future, can governments influence the economy by creating expectations? We study this question in the context of one of the most consequential macroeconomic success stories of the 20th century that has, to date, defied the explanations advanced within the literature: the recovery of the German...
The objective of the project is to analyze the effects of long enduring low interest rates on household investment behavior, setting a special focus on the stock market participation of German and US households. In particular, we address four questions within the project. Did the low interest rate environment induced more households to enter the stock market? How does a low interest rate...
The aim of this project is to estimate the impact of monetary policy on structural reforms in the euro area. We first identify exogenous ECB policy changes through an event study that extracts the unexpected variation in euro area interest rates on policy announcement days. We estimate then the effect of monetary policy shocks on the number of reforms and investigate whether the effect is stronger...
