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Refereed essays Web of Science
This paper investigates the macroeconomic risks associated with undesirably low inflation using a medium-sized New Keynesian model. We consider different causes of persistently low inflation, including a downward shift in long-run inflation expectations, a fall in nominal wage growth, and a favorable supply-side shock. We show that the macroeconomic effects of persistently low inflation depend crucially ...
In:
European Economic Review
88 (2016), S. 88-107
| Jonas E. Arias, Christopher Erceg, MathiasTrabandt
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Refereed essays Web of Science
We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to financial frictions. We reach this conclusion by looking through the lens of an estimated New Keynesian model in which firms face moderate degrees of price rigidities, no nominal rigidities in wages, and a binding zero lower bound constraint on the nominal interest rate. Our model does ...
In:
American Economic Journal: Macroeconomics
7 (2015), 1, S. 110-167
| Lawrence J. Christiano, Martin S. Eichenbaum, Mathias Trabandt
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Refereed essays Web of Science
The outcome of any important macroeconomic policy change is the net effect of forces operating on different parts of the economy. A central challenge facing policymakers is how to assess the relative strength of those forces. Economists have a range of tools that can be used to make such assessments. Dynamic stochastic general equilibrium (DSGE) models are the leading tool for making such assessments ...
In:
Journal of Economic Perspectives
32 (2108), 3, S. 113-140
| Lawrence J. Christiano, Martin S. Eichenbaum, Mathias Trabandt
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Refereed essays Web of Science
We develop and estimate a general equilibrium search and matching model that accounts for key business cycle properties of macroeconomic aggregates, including labor market variables. In sharp contrast to leading New Keynesian models, we do not impose wage inertia. Instead we derive wage inertia from our specification of how firms and workers negotiate wages. Our model outperforms a variant of the standard ...
In:
Econometrica
84 (2016), 4, S. 1523-1569
| Lawrence J. Christiano, Martin S. Eichenbaum, Mathias Trabandt
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Refereed essays Web of Science
Beyond money and possessions, how are the rich different from the general population? Drawing on a unique sample of high‐net‐worth individuals from Germany (≥1 million Euro in financial assets; N = 130), nationally representative data (N = 22,981), and an additional online panel (N = 690), we provide the first direct investigation of the stereotypically perceived and self‐reported personality profiles ...
In:
British Journal of Psychology
110 (2019), 4, S. 769-789
| Marius Leckelt, David Richter, Carsten Schröder, Albrecht C. P. Küfner, Markus M. Grabka, Mitja D. Back
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Refereed essays Web of Science
During the last two decades, it has been well established that a short-term exposure to ozone (O3) elicits an oxidative stress response in human and mouse skin, which leads to aberrant transcriptional expression of genes consistent with increased skin aging. Whether a long-term exposure to ambient O3 is associated with any skin aging traits, has remained unclear. We addressed this question in two elderly ...
In:
Environment International
124 (2019), S. 139-144
| Kateryna B. Fuks, Anke Hüls, Dorothea Sugiri, Hicran Altug, Andrea Vierkötter, Michael J. Abramson, Jan Goebel, Gert G. Wagner, Ilja Demuth, Jean Krutmann, Tamara Schikowskia
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Refereed essays Web of Science
In recent years policy-makers are incentivizing later retirement entry by enabling flexible transitions into retirement through partial retirement. However, empirical evidence shows that the labor supply and related fiscal effects of more flexibility in the pension system, through partial retirement, are ambiguous and strongly depend on the design of partial retirement regimes. Two margins are in particular ...
In:
The Journal of the Economics of Ageing
14 (2019), 100187, 15 S.
| Peter Haan, Songül Tolan
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Refereed essays Web of Science
Objective: This study examines how changes in cohabitation or marital status affect Body Mass Index (BMI) over time in a large representative sample. Method: Participants were 20,950 individuals (50% female; 19 to 100 years), representative of the German population, who provided 81,926 observations over 16 years. Face-to-face interviews were used to obtain demographic data, including cohabitation and ...
In:
Health Psychology
37 (2018),10, S. 948-958
| Jutta Mata, Thorsten Schneider, David Richter, Ralph Hertwig
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Refereed essays Web of Science
We are very grateful to two anonymous referees for helpful comments and suggestions on an earlier version of this article. We are also grateful to seminar participants at the Bank of Italy, Free University of Berlin, University of Naples, Humboldt University of Berlin, IAAE 2016 (Milan), 7th Ifo Conference 2016 (Munich) and EEA 2016 (Geneva), as well as to Rudi Bachmann, Christoph Große Steffen, Michael ...
In:
The Economic Journal ; 128, 616
128 (2018), 616, S. 3266-3284
| Michele Piffer, Maximilian Podstawski
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Refereed essays Web of Science
This study documents empirically that contractionary US monetary policy may generate short-term expansionary spillover effects. In individual Euro Area (EA) member countries, economic activity increases, mainly via the trade channel. Also, domestic credit and stock markets expand, highlighting the importance of the financial channel. However, the international repercussions are transitory and distributed ...
In:
Journal of Banking & Finance
100 (2019), S. 77-96
| Max Hanisch
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Weitere referierte Aufsätze
The city center is at the core of urban and housing economics. Many models crucially depend on it. In a market economy, the location of urban amenities, especially eating establishments, closely correlates with that of the city center and, more generally, with the Central Business District (CBD). In a centrally planned economy, the spatial distribution of those amenities is determined by the central ...
In:
Urban Studies and Practices Journal
3 (2018), 1, S. 23-39
| Konstantin A. Kholodilin, Leonid Limonov
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Weitere referierte Aufsätze
This submission reports on the continuing efforts by OSGeo activists within the annual General Assembly gatherings of the European Geoscience Union (EGU). Starting as improvided splinter events, the format soon emerged both into dedicated topical sessions for Open Source within the EGU division of Earth and Space Science Informatics (ESSI), but also dedicated annual evening events (Townhalls). Further, ...
In:
PeerJ Preprints ; 6
(2018), 6, e27220v1, 3 S.
| Peter Löwe
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Weitere referierte Aufsätze
The authors introduce the GRASS GIS add-on module g.citation. The module extends the existing citationcapabilities of GRASS GIS, which until now only provide for automated citation of the software projectas a whole, authored by the GRASS Development Team, without reference to individual persons. Thefunctionalities of the new module enable individual code citation for each of the over 500 implementedfunctionalities, ...
In:
PeerJ Preprints
(2018), 6, e27206v1, 7 S.
| Peter Löwe, Vaclav Petras, Markus Neteler, Helena Mitasova
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Refereed essays Web of Science
Despite political efforts, balancing work and family life is still challenging. This paper provides novel evidence on the effect of firm level interventions that seek to reduce the work–life conflict. The focus is on how childcare support affects the well-being, working time, and caring behaviour of mothers with young children. Since the mid-2000s and pushed by public policies, in Germany an increasing ...
In:
Oxford Economic Papers
71 (2019), 1, S. 95-118
| Verena Lauber, Johanna Storck
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Refereed essays Web of Science
We investigate the importance of firm-bank relationships for the international transmission of bank distress to the real economy. Using a large panel of matched financial statements of firms of all sizes and their relationship banks in Germany, we find that banks with losses from proprietary trading activities during the 2007/8 financial crisis decreased their lending, and that their firm customers ...
In:
Journal of Financial Intermediation
41 (2020), 100773, 14 S.
| Nadja Dwenger, Frank M. Fossen, Martin Simmler
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Refereed essays Web of Science
Minimum prices above the competitive level can lead to allocative inefficiencies. We investigate whether this effect is more pronounced when decision makers are influenced by their social environment. Using data of minimum prices for renewable energy production in Germany, we test if individual decisions to install photovoltaic systems are affected by the investment decisions of others in the area. ...
In:
Energy Economics
78 (2019), S. 350-364
| Justus Inhoffen, Christoph Siemroth, Philipp Zahn
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Refereed essays Web of Science
A time-varying parameters Bayesian structural vector autoregression (TVP-BVAR) model with stochastic volatility is employed to characterize the monetary policy stance of the Bank of Canada (BoC) in terms of an interest rate rule linking the policy rate to the output gap, inflation and the exchange rate. Using quarterly bilateral Canadian–US data, we find such an interest rate rule to have little explanatory ...
In:
Empirical Economics
55 (2018), 2, S. 471-494
| T. Philipp Dybowski, Max Hanisch, Bernd Kempa
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Refereed essays Web of Science
This study investigates how the durations of childcare leaves taken by mothers and fathers in Germany relate to the gender division of housework and childcare after labour market return. It examines to what extent changes in economic resources because of leave take-up may account for adaptations in the division of domestic work of dual-earner couples. Using data from the German Socio-Economic Panel ...
In:
European Societies
21 (2019), 1, S. 158-180
| Pia S. Schober, Gundula Zoch
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Refereed essays Web of Science
Since 2000, Germany is experiencing an expansion of early childhood education and care (ECEC) institutions for children younger than three as well as increasing availability of full-day care for children aged three or older. More and more children attend ECEC centres for increasingly longer hours. Thus, ECEC centres are becoming an increasingly important environment for children and their parents. ...
In:
Jahrbücher für Nationalökonomie und Statistik
240 (2020), 1, S. 111-120
| C. Katharina Spieß, Pia S. Schober, Juliane F. Stahl
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Refereed essays Web of Science
The quality of electricity system modelling heavily depends on the input data used. Although a lot of data is publicly available, it is often dispersed, tedious to process and partly contains errors. We argue that a central provision of input data for modelling has the character of a public good: it reduces overall societal costs for quantitative energy research as redundant work is avoided, and it ...
In:
Applied Energy
236 (2019), S. 401-409
| Frauke Wiese, Ingmar Schlecht, Wolf-Dieter Bunke, Clemens Gerbaulet, Lion Hirth, Martin Jahn, Friedrich Kunz, Casimir Lorenz, Jonathan Mühlenpfordt, Juliane Reimann, Wolf-Peter Schill