Is there a bubble in the German housing market?
Abstract: After a period of stagnation that lasted for almost two decades, German house prices began to grow at an accelerated pace since late 2010. Real house prices that even had been declining in...
View ArticleBubbles and Monetary Policy: To Burst or not to Burst?
Abstract: The question of whether monetary policy should target asset prices remains a contentious issue. Prior to the 2007/08 financial crisis, central banks opted for a wait-and-see approach,...
View ArticleWhat about the OPEC cartel?
Abstract: The recent decision by the Organization of the Petroleum Exporting Countries (OPEC) not to decrease their output quota in spite of a drastic decline of crude oil prices has brought renewed...
View ArticleThe Market Stability Reserve: Is Europe serious about the Energy Union?
Abstract: The European Union Emission Trading Scheme (EU ETS) has been implemented to provide a common climate policy instrument across European Union countries, to contribute to a credible investment...
View ArticleCentral Bank Asset Purchases I: The Theory
Abstract: In the face of interest rates having hit their zero lower bound in major economies, large-scale asset purchases have become an important weapon of central banks in recent years. It is,...
View ArticleLarge-Scale Asset Purchases by Central Banks II: Empirical Evidence
Abstract: Not just since the European Central Bank announced the large-scale purchase of government bonds a few weeks ago, large-scale asset purchases have always been a controversially discussed...
View ArticleHealth consequences of childhood and adolescence shocks: Is there a “critical...
Abstract: Individual health is not only determined by genetic factors, but also by negative or positive events during the life course. For example, children exposed to natural disasters or violent...
View ArticleThe Debate about Financing Constraints of SMEs in Europe
Abstract: Small and medium-size enterprises (SMEs) are highly dependent on bank financing, which is why they have been particularly hit by tighter credit conditions in the aftermath of the global...
View ArticlePeers at Work – a Brief Overview of the Literature on Peer Effects at the...
Abstract: Individuals do not exist in isolation but are embedded within networks of relationships, such as families, coworkers, neighbors, friendships or socio-economic groups. While there is a long...
View ArticleForeign Direct Investment and Economic Growth
Abstract: Various proposals are currently being suggested to encourage higher foreign direct investment in countries within the euro area, particularly between individual member states. The intended...
View ArticleEurope’s Mechanism for Countering the Risk of Carbon Leakage
Abstract: The EU’s Emissions Trading System (EU ETS) is a regional cap-and-trade program in a world with no binding international climate agreement. This climate regulation may induce a relocation of...
View ArticleMonetary Policy and the Risk-Taking Channel
Abstract: Before the 2007 crisis, the trade-off between output and inflation played a leading role in the discussion of monetary policy. Instead, issues relating to financial stability played a less...
View ArticleGlobal Food Security
Abstract: According to the current report on the Millennium Development Goals (UN 2015), the share of undernourished people living in the developing world has fallen from 23.3% in 1990-1992 to 12.9% in...
View ArticlePopulation Ageing and Its Effects on the German Economy
Abstract: The latest long-term projection of Germany’s population implies a clear trend: even though slight growth is expected over the next decade, a decline in the future is almost inevitable....
View ArticleIncreasing Father Involvement in Child Care: What Do We Know about Effects on...
Abstract: The time fathers spend and the activities they perform with children have risen continuously in most Western countries. Increasing father involvement in child care has also been an explicit...
View ArticleProductivity Growth, Investment, and Secular Stagnation
Abstract: In many advanced economies, the economic recovery from the financial crisis has been sluggish. In light of these developments, it has been argued by various economists that economic growth...
View ArticleClimate Negotiations: What can be expected from the climate summit in Paris?
Abstract: Shortly before the upcoming UN climate summit, Angela Merkel wrote in a German newspaper: “With good reason, it is expected from governments and politicians, that they do not longer close...
View ArticleLeaving coal unburned: Options for demand-side and supply-side policies
Abstract: Climate policy consistent with the 2°C target needs to install mechanisms that leave most current coal reserves unburned. Demand-side policies have been argued to be prone to adverse carbon...
View ArticleCan central banks successfully lean against global headwinds?
Abstract: Despite expansionary central bank action, inflation remains low in the euro area. How much can we expect from the additional stimulus in face of anaemic global growth and declining oil...
View ArticleThe Paris Climate Agreement: Is It Sufficient to Limit Climate Change?
Abstract: “The Paris Agreement is a monumental triumph for people and our planet” (UN News Centre, 2015). Statements, like this one from UN Secretary-General Ban Ki-Moon, represent the global...
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