Topic Business Cycles

883 results, from 1

What Economics and Economic History can learn from Memory Studies

How are individual and collective memories of extreme economic moments produced in a community? How do these memories translate into the political economy and shape the realm of possibility of macroeconomic policies? Why is some statistical data and economic policy represented more factual than other in the historical narration of national economies? How do some economic indicators become more...

30.03.2021| Ute Röschenthaler, Mainz University

Towards a green and smart economy in Germany and the EU

The recovery from the corona virus pandemic provides a unique opportunity for transformation. But what does it take for the German and the European economy to thrive in the new, more digital, post-Covid world? How can we transform our economies while also limiting climate change and preparing for its impact? Will we manage to advance structural transformation while strengthening social cohesion? ...

27.01.2021| Ambroise Fayolle, Fritzi Köhler-Geib, Debora Revoltella, Marcel Fratzscher, Claudia Kemfert
SOEPpapers 1117 / 2021

Risk Preference and Entrepreneurial Investment at the Top of the Wealth Distribution

We present first evidence how individual risk preferences shape entrepreneurial investment among the very wealthy using novel survey data from the top of the wealth distribution, which have been added to the 2019 German Socio-economic Panel Study. The data include private wealth balance sheets, in particular the value of own private business assets, and a standard measure of risk tolerance. We find that ...

2021| Frank M. Fossen, Johannes König, Carsten Schröder
Externe referierte Aufsätze

Sovereign Default Risk, Macroeconomic Fluctuations and Monetary–Fiscal Stabilization

This paper examines the role of sovereign default beliefs for macroeconomic fluctuations and stabilization policy in a small open economy where fiscal solvency is a critical problem. We set up and estimate a DSGE model on Turkish data and show that accounting for sovereign risk significantly improves the fit of the model through an endogenous amplification between default beliefs, exchange rate and ...

In: IMF Economic Review (2021), im Ersch. [online first: 2021-01-04] | Markus Kirchner, Malte Rieth

Economic Assessment of the Euro Area: Winter 2020/2021

Brussels [u.a.]: EUROFRAME, 2021, 24 S.
Externe referierte Aufsätze

All-Pay Competition with Captive Consumers

We study a game in which two firms compete in quality to serve a market consisting of consumers with different initial consideration sets. If both firms invest below a certain threshold, they only compete for those consumers already aware of their existence. Above this threshold, a firm is visible to all and the highest investment attracts all consumers. On the one hand, the existence of initially ...

In: International Journal of Industrial Organization 75 (2021), 102709, 19 S. | Renaud Foucart, Jana Friedrichsen
Externe referierte Aufsätze

An Investment in the Future: Institutional Aspects of Credential Recognition of Refugees in Germany

Adding to the rich literature on the economic integration of refugees, this article extends the scope towards the role of institutions by focusing on the transfer of human capital by means of credential recognition. The 2012 Federal Act of Recognition in Germany is a new institution that provides the possibility to study the transfer of human capital in depth. I argue that analysing the decision for ...

In: Journal of Refugee Studies (2021), im Ersch. [online first: 2019-11-15] | Jannes Jacobsen
Externe referierte Aufsätze

The Effect of Restructuring Electricity Distribution Systems on Firms' Persistent and Transient Efficiency

We evaluate the efficiency of electricity distribution operators (DSOs) as providers of local public infrastructure. In particular, we consider two types of efficiency, i.e., short-term (transient) and long-term (persistent). We apply the recently developed four-component stochastic frontier model, which allows identifying determinants of the two types of efficiency, after controlling for firm heterogeneity ...

In: The Energy Journal 42 (2021), 4, 20 S. | Astrid Cullmann, Oleg Badunenko, Subal C. Kumbhakar, Maria Nieswand
Press Release

Joint Economic Forecast: Recovery Loses Momentum - Economy and Politics Still Shaped by the Pandemic

The corona pandemic leaves substantial marks in the German economy and its impact is more persistent than assumed in spring. In their autumn report, the leading German economic research institutes have revised their economic outlook downwards by roughly one percentage point for both this and next year. They now expect gross domestic product to fall by 5.4 percent in 2020 (previously -4.2%) and to grow ...

Berlin Lunchtime Meeting

Accelerating Transformation: the Role of Investment in Germany and the EU to Support Recovery from the Pandemic Shock

Europe and Germany are being hit by a historic shock due to the Covid-19 pandemic. Economic activity is going to shrink substantially this year, with lockdown measures having led to sharp contractions in economic output, household spending, corporate investment and international trade. Will we see a strong and sustainable recovery? Investment is central to reboot economic activity and to...

18.06.2020| Debora Revoltella, Jakob von Weizsäcker
883 results, from 1