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Look through or Tighten? The ECB and Recurring Energy Supply Shocks: Study Requested by the ECON committee

This paper examines the factors that influence the persistence of inflation following energy price shocks. Although the current oil price shock is economically significant, it is less likely to generate persistent inflationary pressures than the energy crisis of 2022– 23, as European gas markets remain relatively stable. Nevertheless, elevated geopolitical uncertainty and households’ recent inflation ...

Industrial Decarbonization in a Fragmented World: Carbon Pricing with Border Adjustments Using Standardized Values

The European Carbon Border Adjustment Mechanism (CBAM) has the dual objective of preventing carbon leakage and encouraging adoption of low-carbon tech-nologies abroad. Yet, pursuing both objectives with the same mechanism results in incomplete carbon leakage protection unless global carbon prices converge. As the current geopolitical situation makes rapid convergence seem unlikely, an extension of ...

The Asymmetric Effects of Monetary Policy in the Euro Area

We study sign asymmetry in the effect of conventional monetary policy on key real macroeconomic variables in the euro area, using monthly data ranging from 2002 until 2022. We make use of local projections with state-dependence coming from the sign of the monetary policy shock, employing shocks identified using high-frequency identification. Our baseline findings suggest that there are asymmetries ...

Pay or Performance? Retaining Emotionally Stable Police Officers

Growing evidence shows that 1) police officer performance differs by personal characteristics, and 2) many countries are struggling to retain officers. How do different types of officers respond to different retention strategies? We study this using detailed Swedish data that include officers' emotional stability (as measured in military enlistment assessments). Using geographic shocks to outside...

Reducing Gun Violence at Scale

Baltimore's homicide rate fell by roughly 60% between 2022 and 2025, an exceptional decline among large U.S. cities. At the start of this period, Baltimore launched a strategy that concentrated police and social service resources on a small set of people thought to be driving group-involved gun violence. The approach-"focused deterrence”-has been implemented in some form by cities across the U.S....

The biological trace of public health policies: how Medicaid improved epigenetic aging in adolescence

Public health insurance for U.S. children has expanded dramatically through Medicaid and the Children’s Health Insurance Program (CHIP), yet the biological mechanisms linking these policies to long-run health remain poorly understood. We test whether childhood eligibility for Medicaid/CHIP causally affects epigenetic aging measures. Using longitudinal epigenetic data from the Fragile Families and...

The Unequal Distribution of Bitterness: Tracing Ressentiment in Times of Change

Modern democracies are undergoing multiple, overlapping transformations, driven by globalization, digitalization, migration, inequality, and climate change. While some adapt with openness, others experience what Mau et al. (2023) term Veränderungserschöpfung – change fatigue: the sense that “too much is changing, too fast, and all at once.” This paper examines whether and how such fatigue...

Workshop on Applied Economics in Digital Health

The digital revolution in health care is changing how medical services are delivered and managed and how new products are developed. Economists from different fields have started to analyze how digital tools, IT, and novel sources of data are transforming health care delivery, markets, and regulations.  This workshop aims to provide a platform for researchers from health economics, industrial...

Klare Rahmenbedingungen für EU-PV-Hersteller jetzt umsetzen: Interview von Thibault Deletombe

Integrating Out Natural Disaster Shocks

We study the role of international financial integration in buffering natural disaster shocks, using a large sample of advanced and emerging economies. Natural disasters are largely unpredictable and unrelated to the state of financial integration. We document that integration improves the absorption of such shocks: Output, consumption, and investment are significantly higher after a natural disaster ...