In 2005 the German government implemented the so-called Hartz IV reform, which amounted to a complete overhaul of the German unemployment insurance system and resulted in a significant reduction in unemployment benefits for the long-term unemployed. In this paper, we use an incomplete-market...

This article summarises the results of a study on the Germany energy crisis and the need for an extension and modificationsof the electricity price break. The study shows that the energy crisis led to a short-run output loss comparable to the output losses as-sociated with the COVID-19 crisis in...

Deutschland steckt in einer Dauerkrise. Die Wirtschaft stagniert, der Lebensstandard vieler Menschen ist dramatisch gesunken und die AfD gewinnt an Zustimmung. In diesem Buch zeigt der renommierte Ökonom Tom Krebs, dass eine Fehldiagnose marktliberaler Ökonomen und die entsprechenden...

This policy paper studies the effects of a sudden stop of natural gas imports from Russia on the German economy. The analysis focuses on the supply-side effects that arise when a gas shortage affects production in the gas-intensive manufacturing sectors, with a corresponding production...

This policy report studies the effects of a sudden stop of natural gas imports from Russia on the German economy. The analysis focuses on the supply-side effects that arise when a gas shortage affects production in the gas-intensive manufacturing sectors, with a corresponding production...

In this essay, I outline a method to compute the economic impact of a sudden stop of natural gas imports from Russia. First, I estimate the reduction in the short-run supply of natural gas for the economy and the industry sector. Second, I use model simulations to analyse the effect of a sudden...

This paper provides a quantitative evaluation of the macroeconomic, distributional, and fiscal effects of three reform proposals for Germany: i) a reduction in the social security tax in the low-wage sector, ii) a publicly financed expansion of full-day child care and full-day schooling, and...