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From Concurrent to Push-To-Web Mixed-Mode: Experimental Design Change in the German Social Cohesion Panel

Research shows that concurrent and sequential self-administered mixed-mode designs both have advantages and disadvantages in terms of panel survey recruitment and maintenance. Since concurrent mixed-mode designs usually achieve higher initial response rates at lower bias than sequential mixed-mode designs, the former may be ideal for panel recruitment. However, concurrent designs produced high share ...

One‐Way Versus Two‐Way Postacquisition Integration Efforts: Theory and Evidence

We develop a theory of postacquisition integration that distinguishes between one-way (acquirer-only) and two-way (mutual) effort strategies. We argue that the method of payment—cash versus shares—may serve as an ex ante commitment mechanism to a particular integration strategy, where cash deals align with unilateral effort, and share deals induce mutual engagement. Using transaction-level mergers ...

Joint Economic Forecast Spring 2025: Geopolitical turn intensifies crisis – structural reforms even more urgent

The German economy will continue to tread water in 2025. In their spring report, the leading economic research institutes forecast an increase in gross domestic product of just 0.1 per cent for the current year. For 2026, the institutes expect gross domestic product to increase by 1.3 per cent. In the short term, the new US trade policy and economic policy uncertainty are weighing on the German economy. ...

Predictions for the use of nuclear fusion

Economic and Financial Crises: Empirical and Theoretical Tools

This course aims at giving tools to students for entering the frontier of research regarding models of financial stability and economic crises. The focus will be on presenting state-of-the-art concepts and empirical methods on financial stability empirics, and general-purpose analytical and computational techniques that enable students to replicate and extend frontier-research papers in these...

Firms and the Macroeconomy

This masterclass focuses on recent theoretical advances that incorporate firm heterogeneity into endogenous growth models. Traditional macroeconomic analyses often simplify firm characteristics by using representative-agent frameworks, overlooking significant firm-level differences in productivity, innovation, market power, and pricing decisions. However, empirical analysis of important...

Proxy Vector Autoregressive Analysis

In modern empirical macroeconomics, structural vector autoregressions (SVARs) are routinely used to trace out the responses of macroeconomic variables to structural shocks. These structural shocks could be monetary policy shocks, tax shocks, oil price shocks, and many others. For example, central banks use SVARs to analyse the effects of interest movements on the economy. A crucial step in this...

The Keys to the House - How Wealth Transfers Stratify Homeownership Opportunities

This study investigates how actual and anticipated intergenerational wealth transfers – i.e., inter vivos gifts and inheritances – contribute to inequalities in the transition to homeownership by parental social class. Utilizing discrete-time survival analysis on data from the German Socioeconomic Panel Study (N = 13,018), we find that individuals whose parents were manual workers or service workers ...

Spousal death, mental health and survivor benefits

This paper investigates the mental health consequences of spousal death and the role of survivor benefits in mitigating these effects. Using Dutch administrative data and a staggered difference-in-differences, we first document a significant increase in the consumption of benzodiazepines - a proxy for deteriorating mental health - following widowhood (up to +3 percentage points, or +30%, in the...

5th Workshop on Rent Control

The aim of the workshop is to bring together experts from different countries and different disciplines (economics, history, law, sociology, urbanism, etc.) who are interested in rent control and other housing policies. The annual workshop, taking place for the fifth time, aims to be a forum for discussing housing policies around the world and exchange ideas. Furthermore, it also aims to encourage...