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Coordinating Cross-Country Congestion Management

We employ a detailed two-stage model to simulate the operation of the Central Eastern European electricity market and network. Implementing different cases of coordination in congestion management between national transmission system operators, numerical results show the beneficial impact of closer cooperation. Specific steps comprise the sharing of network and dispatch information, cross-border counter-trading, ...

The Greener, the Happier? The Effect of Urban Land Use on Residential Well-Being

We investigate the effect of urban land use on residential well-being in major German cities, using panel data from the German Socio-Economic Panel and cross-section data from the European Urban Atlas. We reduce concerns about endogeneity by employing fixed-effects (within) estimators, with individual and city of residence fixed effects, while controlling for a rich set of observables. The results ...

Lifting the US Crude Oil Export Ban: A Numerical Partial-Equilibrium Analysis

The upheaval in global crude oil markets and the boom in oil production from shale plays in North America have brought scrutiny on the export ban for crude oil in the United States. This paper examines the global flows and strategic refinery adjustments in a spatial, game-theoretic partial-equilibrium model. We consider de- tailed supply chain infrastructure with multiple crude oil qualities (supply), ...

Dynastic Inequality and Persistence of Human Capital Over Three Generations

Empirical research on the persistence of inequality has been largely restricted to a two generational framework, mainly due to a lack of appropriate data on multiple generations. At the same time, it is often assumed that the intergenerational persistence of socio-economic outcomes follows a first-order Markov process; i.e. the influence of ancestors vanishes within few generations. However, an...

The Paris Climate Agreement: Is It Sufficient to Limit Climate Change?

“The Paris Agreement is a monumental triumph for people and our planet” (UN News Centre, 2015). Statements, like this one from UN Secretary-General Ban Ki-Moon, represent the global excitement shortly after the acceptance of the Paris Agreement and describe the outcome of the COP21 in December 2015 primarily as ‘historical’. Twenty years after the UN’s first COP (Conference of the Parties), the international ...

The Provision of External Expertise in the Field of Monetary and Financial Affairs (Monetary Expert Panel)

Members of the Macroeconomics Department are part of the European Parliament's Monetary Policy Experts Panel. Under the Treaty on the Functioning of the European Union (TFEU), the ECB is accountable to the European Parliament. Quarterly meetings between the President of the ECB and the European Parliament's ECON Committee are known as the Monetary Dialogue. As part of this dialogue, we provide...

Big Data in Macroeconomic Analysis: Texts as data source for the economic analysis - Potentials and possible applications

The aim of this project is to use innovative approaches and heterogeneous data sources to advance research on forecasting economic development, predicting turning points and determining economic cycles. The first work package provides a comprehensive overview in the field of automated text analysis, the use of media data in the economic forecast and the methods of forecast evaluation, as well as...

The Provision of External Expertise in the Field of Monetary and Financial Affairs (Monetary Expert Panel)

Members of the Macroeconomics Department are part of the European Parliament's Monetary Policy Experts Panel. Under the Treaty on the Functioning of the European Union (TFEU), the ECB is accountable to the European Parliament. Quarterly meetings between the President of the ECB and the European Parliament's ECON Committee are known as the Monetary Dialogue. As part of this dialogue, we provide...

Bonn Intervention Panel (BIP)

The Bonn Intervention Panel (BIP) investigates the development of personality and preferences of children starting at the primary school age until age 25 and beyond. Main focus of our study is the impact of early childhood environment. In particular, we experimentally vary the childhood environment in our sample by giving a randomly chosen subgroup of the sample the opportunity to take part in a...

Dynamic Games: Numerical Methods and Applications