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The Spatial Dimension of US House Prices

Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. This paper jointly analyses these three aspects of spatial data. A panel smooth transition regression model is applied that allows for heterogeneity across time and space in spatial ...

Municipal infrastructure in Germany requires significant strengthening

Persistent lack of investment among municipalities – social expenditures diminishing financial leeway – structurally weak regions threatening to fall further behind – DIW experts recommend temporarily making use of solidarity contributions to relieve municipalities of social expenditures Investment in public infrastructure is critical for ensuring competitiveness and creating growth ...

Does Experience Rating Improve Obstetric Practices? Evidence from Italy

Using inpatient discharge records from the Italian region of Piedmont, we estimate the impact of an increase in malpractice pressure brought about by experience-rated liability insurance on obstetric practices. Our identification strategy exploits the exogenous location of public hospitals in court districts with and without schedules for noneconomic damages. We perform difference-in-differences analysis ...

Municipal energy and water suppliers expand investment

Unlike the investment of core municipal budgets, public companies’ investment in energy and water supply is not decreasing – DIW experts find no connection among regional financial power, shifting demographics, and investment Countless municipalities in Germany are investing too little, which is primarily having a negative impact on infrastructure. However, for the municipal energy and ...

Overcoming Weaknesses in Municipal Investment

Investing in Germany! Six Questions to Marcel Fratzscher

Local Public Infrastructure Showing Signs of Wear and Tear

Investment in public infrastructure is essential to ensure competitiveness and create growth potential. Although Germany certainly has a well-developed infrastructure compared to other countries, local public infrastructure has been in decline for many years now. This means that current levels of investment are not sufficient to offset this decline, and the infrastructure is becoming increasingly outdated ...

Large and Lasting Regional Disparities in Municipal Investments

The regional dispersion of local public investment in Germany is very uneven. Even a comparison between the states shows considerable differences in gross investment. Municipalities in Bavaria currently invest more than three times as much per capita as those in Mecklenburg-Western Pomerania. There are even greater differences between districts and independent cities, both nationwide and within the ...

No Decline in Investment in Public-Sector Energy and Water Supply

A considerable share of public investment comes not only from public budgets but also from public utility companies. One major area of investment is energy and water supply, where the utility companies have substantial fixed assets in the form of distribution infrastructure. Using new microdata which has not been analyzed before, the present report shows that—unlike with the core public budgets—public ...

Offset Credits in the EU ETS: A Quantile Estimation of Firm-Level Transaction Costs

International offset certificates trade at lower prices than European Union Allowances (EUAs), although they are substitutes within the EU Emissions Trading System (EU ETS) for CO2. Firms therefore had a strong incentive to use the cheaper certificates. However, a considerable number of firms did not use their allowed offset quota and, by doing so, seemingly forwent profits. While most of the literature ...