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Vierteljahrshefte zur Wirtschaftsforschung 1 / 2020

Sovereign Debt, the Blessing Aspects and the Implications for the Euro Area

Der Euroraum hat eine einheitliche Währungsbehörde, die die Geldschöpfung regelt, aber die einzelnen Eurostaaten begeben jeweils ihre eigenen Staatschulden. Folglich ist auch die Sicherheit der Staatsanleihen sehr unterschiedlich. Vor diesem Hintergrund wird analysiert: i) die Wechselwirkungen zwischen dem finanziellen und dem realer Sektor; ii) die Rolle von Staatsanleihen als Liquiditätsinstrumente; ...

2020| Gabriella Chiesa
Vierteljahrshefte zur Wirtschaftsforschung 1 / 2020

The German Debt Brake: Approaches for an Improvement of the Technical Design

Der Artikel untersucht die deutsche Schuldenbremse von einem technischen Standpunkt aus. Mit der Ausgestaltung der Schuldenbremse anhand der EU-Methode sollte eine adäquate Aufteilung zwischen der konjunkturellen und der strukturellen Komponente des Budgetsaldos gelingen und dabei antizyklische Fiskalpolitik möglich sein. Aktuelle Studien zeigen jedoch, dass die Mechanik der Schuldenbremse eher pro-zyklischer ...

2020| Thomas Lenk, Christian Bender, Philipp Glinka
DIW Weekly Report 15/16 / 2020

Government Bonds: European Banks Still Display Strong Home Bias: Requiring Capital Backing Could Worsen Problem

The European sovereign debt crisis illustrated how the stability of the entire financial system suffers when banks and sovereigns become too intertwined. However, there has been seemingly little success in reducing the bank-sovereign nexus in the decade since the crisis. As this Weekly Report shows, home bias remains strong and many European banks are still primarily purchasing domestic government ...

2020| Dorothea Schäfer, Michael Stöckel, Henriette Weser
Audio

Making a nation-wide randomized field experiment:: Lessons from the Finnish basic income trial

The original goal of the Finnish experiment of 2017 and 2018 was to try to get some evidence on how a new social policy instrument mimicking a basic income would work and what kind of behavioral consequences it would have. The realized experiment was restricted to people aged 25–58 already receiving a labor market subsidy or unemployment allowance and a total of 2,000 participants were...

28.01.2020| Veranstaltungsrückblick
DIW Weekly Report 52/53 / 2020

Fiscal Rules Mitigate Economic Setbacks during Crises

91 countries around the world have established fiscal rules to limit national debt and/or budget deficits. Using data from previous natural disasters, this report investigates how these fiscal rules affect overall economic development following a crisis. The results show countries with fiscal rules fare better after such shocks than those without. GDP, private consumption, and investments develop markedly ...

2020| Alexander Kriwoluzky, Laura Pagenhardt, Malte Rieth
Research Project

Options for a per-capita rebate of revenues from CO2 pricing

The project looks at different options of a per-capita rebate of revenues from CO2 pricing in Germany. The German government has decided to introduce a national emissions trading system for the heat and transport sectors in its Climate Action Programme 2030. Such a CO2 pricing implies distributional challenges, since lower-income and middle-income households are more exposed to CO2 prices relative...

Completed Project| Climate Policy
Diskussionspapiere 1864 / 2020

Financial Education Affects Financial Knowledge and Downstream Behaviors

We study the rapidly growing literature on the causal effects of financial education programs in a meta-analysis of 76 randomized experiments with a total sample size of over 160,000 individuals. The evidence shows that financial education programs have, on average, positive causal treatment effects on financial knowledge and downstream financial behaviors. Treatment effects are economically meaningful ...

2020| Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff, Carly Urban
Brown Bag Seminar Industrial Economics

Emergency Aid for the Self-Employed in the COVID-19 Pandemic: A Flash in the Pan?

The self-employed are among those facing the highest probability of strong income losses during the COVID-19 pandemic. Governments in many countries introduced support programs to support the self-employed, including the German federal government, which approved a €50bn emergency aid program at the end of March 2020 offering one-off lump-sum payments of up to €15,000 to those facing...

07.05.2021| Caroline Stiel, DIW Berlin
Externe referierte Aufsätze

Equilibrium Effects of Tax Exemptions for Low Pay

Across the world, tax exemptions for jobs with low earnings intend to incite non-participating workers to rejoin the labor market. However, such tax exemptions may also have negative equilibrium effects. The German minijob tax exemption offers a convenient case to identify equilibrium effects as it applies to some but not to other low-wage jobs. We build and estimate a structural job search model with ...

In: Labour Economics 69 (2021), 101976 , 15 S. | Luke Haywood, Michael Neumann
Event

Austerity: When It Works and When It Doesn´t

A timely and incisive look at austerity measures that succeed—and those that don’t. Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today’s leading experts –...

11.04.2019| Francesco Giavazzi
268 results, from 11
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