This paper examines business cycle synchronization in the European Monetary Union with a special focus on the core-periphery pattern in the aftermath of the crisis. Using a quarterly index for business cycle synchronization by Cerqueira (2013), our panel data estimates suggest that it is...

In this study, the relation between consumer credit and real economic activity during the Great Moderation is studied in a dynamic stochastic general equilibrium model. Our model economy is populated by two different household types. Investors, who hold the economy's capital stock, own the firms...

This article examines the impact of unemployment on social participation for Germany using the German Socio-Economic Panel. We find significant negative, robust and, for some activities, lasting effects of unemployment on social participation. Causality is established by focussing on plant...

In this study, the relation between consumer credit and real economic activity during the Great Moderation is studied in a dynamic stochastic general equilibrium model. Our model economy is populated by two diff erent household types. Investors, who hold the economy’s capital stock, own the fi...

Immigration enforcement cooperation between final destination and transit countries has increased in the last decades. However, the question whether these measures are successful in deterring undocumented migrants has not been previously explored by the empirical literature. This paper examines...

The effect of marijuana liberalization on crime is object of a large interest by social scientists and policy-makers. However, due to the scarcity of relevant data, the displacement effect of liberalization on the supply of illegal drugs remained substantially unexplored. This paper exploits the...

Within the context of the current political discussion over base realignments and closures (BRACs) in Germany, this study provides policy guidance by examining the economic consequences to the surrounding community. We identify the causal effect of a reduction in military personnel on a number...

Using a unique panel dataset, we estimate the impact of the military base realignments and closures (BRACs) in Germany on the intensity of criminal activity surrounding the base. We use a fi xed-eff ect model to account for time-invariant unobservables in our panel of 298 military bases for the...

This paper leverages a discontinuity in legal access to alcohol at age 16 to estimate its impacts on teenage drinking and crime in Germany, a country with very high consumption levels. Using detailed survey data and administrative crime records from 2005 to 2015, I detect considerable increases...

Very little is known about the efficient collection of fines despite their indispensable contribution to local government budgets. This paper fills an important gap in the literature by studying the effectiveness of deterrence (enforcement) and non-deterrence (social norms) letters that aim to...