Achieving a balanced monetary-fiscal policy mix in the euro area is crucial to ensure that monetary policy is able to fulfil its primary price stability objective. This paper outlines, from an economic and legal perspective, the interaction between monetary and fiscal policy in light of the current monetary and fiscal stance and, in particular, the “quasi-fiscal” effects of some unconventional monetary ...
We study the effect of local unemployment and attitudes towards immigrants at the time of arrival onrefugees’ multi-dimensional integration outcomes. We leverage a centralized allocation policy in Germanywhere refugees were centrally assigned to live in specific counties. To measure sentiments of native residentstowards immigrants, we use geo-coded Twitter data, which provides our ‘‘negative sentiment ...
This paper investigates the gender wealth gap using wealth recorded in the Socio-Economic Panel (SOEP). Ranking women and men by their individual wealth reveals that the average gender wealth gap is driven by the large gap in the top tail. We find that the gender wealth gap widens during working age and closes during retirement. This is associated with men receiving higher inheritances and inter-vivos ...
By the end of the Second World War, an estimated 20 percent of the West German housing stock had been destroyed. Building on a theoretical lifecycle model of wealth accumulation, this paper examines the extent to which regional differences in destruction can explain differences in wealth today” – at the beginning of the 21st century. As our empirical basis, we link a unique historical dataset on the ...
We analyse variation in firm performance as a function of the international diversification of ICT imports by firms. Drawing on administrative data from 2010 and 2014 on nearly 4000 German manufacturing firms, we find that firms with ICT sourcing that is diversified across multiple countries perform better than similar, less-diversified firms. This finding holds true for two performance metrics (value ...
Background The first wave of the Corona Monitoring Nationwide (RKI-SOEP) Study drawn from the German Socio-Economic Panel proved a low pre-vaccine SARS-CoV-2 seroprevalence in the German adult population of 2.1%.Methods In this second wave of the study (RKI-SOEP-2, November 2021-March 2022), we used combined serological and self-reported data on infection and vaccination to estimate the prevalence ...
While inequality of opportunity (IOp) in earnings is well studied, the literature on IOp in individual net wealth is scarce to non-existent. This is problematic because both theoretical and empirical evidence show that the position in the wealth and income distribution can significantly diverge. We measure ex-ante IOp in net wealth for Germany using data from the Socio-Economic Panel (SOEP). Ex-ante ...
Background: The utilisation of outpatient dental services is an important indicator for monitoring healthcare provision in Germany. In the general population, the 12-month prevalence of dental service utilization is 82.2%. For refugees, this indicator has hardly been measured, although studies suggest an objectively high need for dental care. Methodology: As part of the population-based cross-sectional ...