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US Monetary Policy and the Euro Area

This study documents empirically that contractionary US monetary policy may generate short-term expansionary spillover effects. In individual Euro Area (EA) member countries, economic activity increases, mainly via the trade channel. Also, domestic credit and stock markets expand, highlighting the importance of the financial channel. However, the international repercussions are transitory and distributed ...

Central Business District of St. Petersburg 1869–2017: From a Market Economy to a Centrally Planned One and Back Again

The city center is at the core of urban and housing economics. Many models crucially depend on it. In a market economy, the location of urban amenities, especially eating establishments, closely correlates with that of the city center and, more generally, with the Central Business District (CBD). In a centrally planned economy, the spatial distribution of those amenities is determined by the central ...

Construction Industry Momentum Continues – State Stimulus Impacts Prices

According to the German Institute for Economic Research construction volume forecast, the country’s construction industry will continue to flourish in the coming years. Companies can count on a rise in the nominal construction volume of around 7.5 percent in 2019 and 6.5 percent next year. The industry’s business cycle continues to be supported by the flourishing residential construction sector, which ...

Construction industry momentum continues – state stimulus impacts prices

By Martin Gornig, Claus Michelsen, and Martin Bruns According to the German Institute for Economic Research construction volume forecast, the country’s construction industry will continue to flourish in the coming years. Companies can count on a rise in the nominal construction volume of around 7.5 percent in 2019 and 6.5 percent next year. The industry’s business cycle continues ...

SOEPcompanion (v34)

The Effect of Self-Employment on Income Inequality

It is well known that the self-employed are over-represented at the bottom as well as the top of the income distribution. This paper shifts the focus from the income situation of the self-employed to the distributive effects of a change in self-employment rates. With representative German data and unconditional quantile regression analysis we show that an increase in the proportion of self-employed ...

Social Policy or Crowding-Out? Tenant Protection in Comparative Long-Run Perspective

In the shadow of homeownership and public housing, social policy through the regulation of private rental markets is a neglected and underestimated field of social policy. This paper, therefore, presents unique new data on the development of private tenancy legislation through the binary coding of rent control, the protection of tenants from eviction, and rental housing rationing laws across more than ...

The Empirical Content of Marital Surplus in Matching Models

This note investigates the extent to which structural estimates of marital surplus are informative about subjective well-being and separation. We first estimate the marital surplus using a simple matching model of the marriage market with perfectly transferable utility and heterogeneity in tastes applied to a rich German panel dataset. We then show that these estimates of the marital surplus are negatively ...

Effects of Changes in Living Environment on Physical Health: A Prospective Cohort Study of Movers and Non-Movers in Germany

Longitudinal studies on associations between changes in living environment and health are few and focus on movers. Next to causal effects, differences in health between living environments can, however, result due to residential mobility. The present study explored changes in living environment related to (changes in) physical health among movers and non-movers. Causality was reinforced by a novel ...

Walls of Glass: Measuring Deprivation in Social Participation

This paper proposes a measure for deprivation in social participation, an important but so far neglected dimension of human well-being. Operationalisation and empirical implementation of the measure are conceptually guided by the capability approach. Essentially, the paper argues that deprivation in social participation can be convincingly established by drawing on extensive non-participation in customary ...