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DIW Weekly Report 6 / 2024
Many sovereign defaults have occurred worldwide over the past 200 years. An analysis of 321 sovereign debt restructurings since 1815 shows that foreign private and institutional investor losses were 43 percent on average. Notably, beginning in the 1970s, several debt exchanges have increasingly been required to resolve a default. To understand this new phenomenon better, this Weekly Report looks at ...
2024| Josefin Meyer
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Blog Marcel Fratzscher
The recent decision by the German Constitutional Court to block the government’s plan to redirect €60 billion in unused pandemic funds toward climate-related projects has underscored the growing divisions within Germany’s three-party ruling coalition. Moreover, the decision is set to undermine economic growth at a critical moment. Earlier this month, Germany’s Constitutional Court ruled that the government’s ...
30.11.2023| Marcel Fratzscher
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Diskussionspapiere 2042 / 2023
This paper provides causal evidence on the effect of credit crunches on political polarization. We combine data on bank-firm connections and electoral outcomes at the city-level during the 2008-2014 Spanish Financial Crisis. First, we show that firms in a relationship with weak banks experience a reduction in their loan supply and employment growth. Next, we estimate the effects of unemployment on ...
2023| Pia Hüttl, Simon Baumgartner
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Refereed essays Web of Science
Adjusting green public support programmes to green premiums can reduce public spending, yet this is challenged by uncertainty. Underfunding green technologies can delay the green transition, and overfunding them can increase transition costs. Both risks of under- and overfunding can be reduced using responsive adjustments.
In:
Nature Climate Change
13 (2023), S. 592-595
| Till Köveker, Olga Chiappinelli, Mats Kröger, Oliver Lösch, Karsten Neuhoff, Jörn C. Richstein, Xi Sun
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Event
Join us for an insightful presentation on the global impact of COVID-19 on public debt and the challenges it poses for policymakers. This lecture explore the effectiveness of different approaches to reducing debt-to-GDP ratios, considering econometric analyses and historical experiences. Followed by a discussion.
Key findings include:
Fiscal consolidations: Timely and well-designed fiscal...
14.06.2023| Asonuma Tamon, Josefin Meyer
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Research Project
The EU Tax Observatory is an independent research laboratory hosted at the Paris School of Economics and DIW is the national cooperation partner. It conducts innovative research on taxation, contributes to a democratic and inclusive debate on the future of taxation, and fosters a dialogue between the scientific community, civil society, and policymakers in the European Union and worldwide.
Current Project| Macroeconomics, Forecasting and Economic Policy
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Research Project
Development of a dynamic framework to depict and compare the effects of wealth policy instruments in the short, medium, and long term. Among the examined instruments are a general wealth tax, a social inheritance, and a social dividend.
Current Project| Macroeconomics, Forecasting and Economic Policy
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DIW Weekly Report 7 / 2023
The German Federal Government has expanded subsidies for employees with low gross wages (midijob employees) as of January 1, 2023, and raised the upper earnings limit to 2,000 euros. As a result, around 6.2 million midijob employees will benefit from paying reduced social security contributions while still receiving their full pension entitlements, made possible by a redistribution within the social ...
2023| Hermann Buslei, Johannes Geyer, Peter Haan
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Workshop
Based on various data sources, the workshop will examine the economic and psychological situation of the self-employed three years after the onset of the COVID-19 crisis. Next to analyzing the immediate impact of the crisis, the workshop will address the adjustment measures taken by the self-employed and the long-term consequences. Possible research questions include what strategies the self...
18.01.2023
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Refereed essays Web of Science
In:
Labour Economics
84 (2023), 102426
| Elisabeth Fürstenau, Niklas Gohl, Peter Haan, Felix Weinhardt