The usually assumed two categories of costs involved in climate change policy analysis, namely abatement and damage costs, hide the presence of a third category, namely adaptation costs. This dodges the determination of an appropriate level for them. Including adaptation costs explicitly in the...

So far, the "new open economy macroeconomics" literature has primarily focused on monetary policy and monetary policy rules, rather than paying attention also to fiscal policy. This is an omission because, especially with the advent of EMU, the burden on fiscal policy as an instrument for...

Long-term asset purchases carried out by central banks increase the consumption volatility of households holding long-term debt. For this reason, monetary authorities should not just aim at stabilising inflation and the output gap but also mitigate the volatility of their balance sheet. In...

Implementing the 2030 Agenda requires an improved understanding of the interdependencies among the Sustainable Development Goals (SDGs) and targets and the design and implementation of coherent policies across different levels and sectors. The water-energy-food (WEF) nexus has emerged over the...

The policy mix for industry decarbonization in Germany currently undergoes substantial changes. While in the past, it focused strongly on measures supporting and regulating energy efficiency, while in recent years instruments were added that aim at deep decarbonization of industrial production...