The 2014 reform of the Renewable Energy Sources Act (Erneuerbare-Energien- Gesetz, or EEG) entailed that a mandatory direct marketing of green electricity be introduced. According to this law, operators of larger wind turbines must sell their electricity production on the electricity market. In addition to the wholesale price they receive a floating market premium, which is based on the average market ...
We examine under which conditions a cap-and-trade mechanism can deliver a dynamically efficient abatement pathway and contribute to a robust investment framework. For this we develop a numerical dynamic partial-equilibrium model that includes differentiated objective functions of different market participants for holding emission allowances based on their banking strategy. If the surplus of allowances ...
Individual health is not only determined by genetic factors, but also by negative or positive events during the life course. For example, children exposed to natural disasters or violent conflicts are more likely to have poor health as adults. Positiveexternal factors, such as nutritional programs, will, instead, improve individual health in the long-term. In turn, health can directly affect education ...
Using German panel data and plant closure as an exogenous unemployment shock, we show that job loss affects individual risk-taking in very heterogeneous ways: Those who experience involuntary job loss and quick reemployment report a significant rise in risk aversion. We also find some evidence that individuals who stay unemployed report a drop in risk aversion. In addition, we observe strong...
The DIW Europe Lecture is a lecture series by leading policy-makers and academics on the future of Europe. The series aims at fostering and informing the debate on key European policy issues, and at bringing this debate to the heart of Germany's policy-making in Berlin. The German Institute for Economic Research (DIW Berlin) and the American Academy in Berlin cordially invite you to the...
During the European sovereign debt crisis, most countries that ran into fiscal trouble had Catholic majorities, whereas countries with Protestant majorities were able to avoid fiscal problems. Survey data show that, within Germany, views on theeuro differ between Protestants and Non-Protestants, too. Among Protestants, concerns about the euro have, compared to Non-Protestants, increased during the ...
