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Refereed essays Web of Science
Spillovers from US monetary policy entail spillbacks to the domestic economy. Applying counterfactual analyses in a Bayesian proxy structural vector-autoregressive model we find that spillbacks account for a non-trivial share of the slowdown in domestic real activity following a contractionary US monetary policy shock. Spillbacks materialise as a monetary policy tightening depresses foreign sales and ...
In:
Journal of Monetary Economics
131 (2022), S. 45–60
| Max Breitenlechner, Georgios Georgiadis, Ben Schumann
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Refereed essays Web of Science
This study analyzes the causal effect of an increase in the retirement age on official health diagnoses. We exploit a sizable cohort-specific pension reform for women using a Difference-in-Differences approach. The analysis is based on official records covering all individuals insured by the public health system in Germany and including all certified diagnoses by practitioners. This enables us to gain ...
In:
The Journal of the Economics of Ageing
23 (2022), 100403
| Mara Barschkett, Johannes Geyer, Peter Haan, Anna Hammerschmid
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Refereed essays Web of Science
The current governance process to plan the German energy system omits two options to substitute grid expansion: First, placing renewables closer to demand instead of where site conditions are best. Second, utilizing storage instead of additional transmission infrastructure to prevent grid congestion. In the paper, we apply a comprehensive capacity expansion model based on the AnyMOD modeling framework ...
In:
Energy Economics
113 (2022), 106190, 10 S.
| Leonard Göke, Mario Kendziorski, Claudia Kemfert, Christian von Hirschhausen
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Refereed essays Web of Science
In sequential interactions, both the agent’s intention and the outcome of his choice may influence the principal’s action. While outcomes are typically observable, intentions are more likely to be hidden, leaving potential wiggle room for the principal when deciding on a reciprocating action. We employ a controlled experiment to investigate how intentions and outcome affect the principal’s actions ...
In:
Journal of Behavioral and Experimental Economics
100 (2022), 101913, 21 S.
| Jana Friedrichsen, Katharina Momsen, Stefano Piasenti
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Refereed essays Web of Science
The transition to low-carbon economies requires massive investments into renewable energies, which are commonly supported through regulatory frameworks. Yet, governments can have incentives – and the ability – to deviate from previously announced support policies once those investments have been made, which can deter investments. We analyze a renewable energy dynamic regulation game and derive under ...
In:
Energy Economics
112 (2022), 106102, 16 S.
| Nils May, Olga Chiappinelli
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Refereed essays Web of Science
Cost of renewable energies have dropped, approaching wholesale power price levels. As a result, the role of renewable energy policy design is shifting – from covering incremental costs towards facilitating risk-hedging. An analytical model of the financing structure of renewable investment projects is developed to assess this effect und used to compare different policy design choices: contracts for ...
In:
Resource and Energy Economics
70 (2022), 101330, 15 S.
| Karsten Neuhoff, Nils May, Jörn C. Richstein
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Refereed essays Web of Science
Based on data from the German Socio-Economic Panel, we document a significant rise in monthly earnings in- equality between 1993 and 2018. The main contributors are inter-temporal increases in working hours inequality and increases in the covariance between working hours and hourly wages, while changes in the distribution of hourly wages play a minor role. Applying a novel double decomposition technique ...
In:
Labour Economics
76 (2022), 102184, 22 S.
| Mattis Beckmannshagen, Carsten Schröder
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Refereed essays Web of Science
This paper studies how the communication of political leaders affects the expectation formation of the public. Specifically, we examine the expectation management of the German government regarding COVID-19-related regulatory measures during the early phase of the pandemic. We elicit beliefs about the duration of these restrictions via a high-frequency survey of individuals, accompanied by an addi-tional ...
In:
Journal of Public Economics
209 (2022), 104659, 26 S.
| Peter Haan, Andreas Peichl, Annekatrin Schrenker, Georg Weizsäcker, Joachim Winter
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Refereed essays Web of Science
Sovereign borrowers may tighten their fiscal stance in order to signal their creditworthiness to lenders. In a model of sovereign debt with incomplete information, I show that a trustworthy country may reduce its debt beyond the optimal level in order to separate itself from less reliable countries. Since austerity is costly, the gains in the price of debt from separating need to be high enough, as ...
In:
European Economic Review
144 (2022), 104090, 27 S.
| Anna Gibert
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Refereed essays Web of Science
According to a recent paper by Gelfand et al., COVID-19 infection and case mortality rates are closely connected to the strength of social norms: “Tighter” cultures that abide by strict social norms are more successful in combating the pandemic than “looser” cultures that are more permissive. However, countries with similar levels of cultural tightness exhibit big differences in mortality rates. We ...
In:
Frontiers in Public Health
(2022), 10, 842177
| Christoph Schmidt-Petri, Carsten Schröder, Toshihiro Okubo, Daniel Graeber, Thomas Rieger