The ECB has sent a strong signal of trust in the implementation of a third program by increasing its ELA support to Greek banks. The ECB underlines that it considers Greek banks fundamentally solvent. Mr. Draghi is optimistic that a bridge financing will be in place to cover Greek repayments to the ECB on 20 July.The ECB decision is a continuation of its policy path and consistent with its...
Researchers in the Climate Strategies network found that the European Commission’s proposal for carbon leakage protection post-2020 will fail to realize a large share of innovation opportunities in materials industries like steel and cement. “This is a major missed opportunity since steel and cement alone account for 38% of industrial CO2 emissions in Europe”, said Karsten Neuhof ...
Professor Neuhoff, the EU Emissions Trading System, or the EU ETS, has been in existence for ten years now. Has the scheme stood the test of time so far? First, the EU ETS has demonstrated that Europe can act collectively and it takes climate protection seriously. Second, it has established a long-term framework for emissions reductions. Third, the price signal has helped companies consider more ...
Since 2007, the European cement and steel sectors have been characterized by substantial surplus production capacity. Hence re-investment in primary production of many materials remains limited and endangers the longer-term economic viability of many plants. Opportunities for innovation and modernization could overcome these challenges. They are linked to new demands for more efficient and lower-carbon ...
Are capital controls and macroprudential measures related to international exposures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding to changes in variables that the CFMs are intended to influence. This paper addresses ...
Doreen Triebe sucessfully defended her dissertation on July 1st at TU Berlin. Prof. Dr. Gerd G. Wagner and Prof. Dr. Helmut Lütkepohl congratulate her on her success!
Aims: To investigate cross-sectional and longitudinal associations between personality and smoking, and test whether sociodemographic factors modify these associations.Design: Cross-sectional and longitudinal individual-participant meta-analysis. Setting: Nine cohort studies from Australia, Germany, UK and US. Participants: A total of 79,757 men and women (mean age = 51 years). ...
Extending working life is an objective for many nations. However, the UK government has recently reported only modest improvement “compared to many nations”. A comparison of European, Labour Force Surveys show that Germany has reversed early retirement much faster than the UK since 2003. This was not forecast by previous researchers. In particular, Ebbinghaus’ influential cross-national analysis of ...
Recent supply security concerns in Europe have revived interest into the natural gas market. Here, we investigate investment behavior and trade in an imperfect market structure under uncertainty in both supply and demand. We focus on three uncertain events: i) transit of Russian gas via Ukraine that may be disrupted from 2020 on; ii) natural gas intensity of electricity generation in OECD countries ...
