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Refereed essays Web of Science
In Germany, individuals in need of long-term care receive support through benefits of the long-term care insurance. A central goal of the insurance is to support informal care provided by family members. Care recipients can choose between benefits in kind (formal home care services) and benefits in cash. From a budgetary perspective, family care is often considered a cost-saving alternative to formal ...
In:
Health Economics
24 (2015), 9, S. 1178-1191
| Johannes Geyer, Thorben Korfhage
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DIW Discussion Papers 1503 / 2015
In many countries, important features of municipal government (such as the electoral system, mayors' salaries, and the number of councillors) depend on whether the municipality is above or below arbitrary population thresholds. Several papers have used a regression discontinuity design (RDD) to measure the effects of these threshold-based policies on political and economic outcomes. Using evidence ...
2015| Andrew C. Eggers, Ronny Freier, Veronica Grembi, Tommaso Nannicini
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Personnel news
Dr. Franziska Holz replaces the Professor of Governance of Energy and Infrastructure at the Hertie School of Governance in academic year 2015/2016. She will teach in the areas energy policy and resource markets and continue her research on energy infrastructure. With her nomination DIW Berlin successfully continues the cooperation with the Hertie School of Governance.
08.09.2015
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Personnel news
Dr. Franziska Holz presented the results of the RESOURCES project in Beijing in early November 2015 to academic scholars, policy makers and NGOs. A focus of her presentations and discussions was on the future role of coal in China and globally. China faces the challenge to reduce the utilization of coal in the manufacturing industry and in the electricity sector in order to improve its local air quality ...
08.09.2015
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Event
We explore whether the tone of central bank communication matters for asset prices. Using press conference statements by the ECB, which was the first central bank to establish regular live press conference after meetings of its Governing Council, we find that tone changes have a statistically and economically significant effect on equity returns. Stock prices increase when ECB tone becomes more...
22.09.2015| Maik Schmeling, Cass Business School
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Seminar
We provide a Keynesian growth theory in which pessimistic expectations can lead to permanent, or very persistent, slumps characterized by unemployment and weak growth. We refer to these episodes as stagnation traps, because they consist in the joint occurrence of a liquidity and a growth trap. In a stagnation trap, the central bank is unable to restore full employment because weak growth pushes...
21.10.2015| Luca Fornaro, CREI/Pompeu Fabra
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Seminar
Renminbi internationalisation has brought about an active offshore market where the exchange rate frequently diverges from the onshore market. Using extended GARCH models, we explore the role of fundamentals, global factors and policies related to renminbi internationalisation in driving the pricing differential between the onshore and offshore exchange rates. Differences in...
28.10.2015| Michael Funke, University of Hamburg
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Seminar
This talk is based on two joint works with Isaac Sserwanja:
"Corporate Bond Yields in the Transmission Mechanism of Monetary Policy"
"Fiscal Policy, Interest Rates, and Output: Equilibrium-Correction Dynamics in the US Economy"
04.11.2015| Hans-Martin Krolzig, University of Kent
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Seminar
In this paper, we develop a very simple theoretical framework for analyzing optimal FX intervention for an EM which is exposed to a capital outows shock, taking explicit account of the possibility that reserves may run out. The full commitment solution entails a sustained path of FX intervention, with reserves optimally running out for persistent shocks. This solution is not time consistent. The...
11.11.2015| Pablo Winant, Bank of England
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Seminar
This paper estimates the effects of banks' foreign exposures on local lending and labor markets in the aftermath of the 2008-2009 world financial crisis for the Brazilian financial systems. The analysis focuses on two dimensions of banks' foreign exposures: foreign ownership and foreign funding. Our results suggest that both exposure dimensions represent distinct transmission mechanisms affecting...
18.11.2015| Felix Noth, Halle Institute for Economic Research/University of Magdeburg