Dieser Beitrag zeigt auf Basis einer breit angelegten Untersuchung zu den Wirkungen fiskalpolitischer Ausgabe- und Sparmaßnahmen, dass die erhofften positiven Wachstumseffekte der Austeritätspolitik im Euroraum nicht erwartet werden konnten. Vielmehr hat die Sparpolitik einen negativen...

The fiscal multiplier is a condensed key figure of the complex transmission mechanism of fiscal policy into output. I give an overview and systemize the numerous contributions to the theory and measurement of multipliers. The analysis is not confined to a certain model class but is intended to...

A famous idea to maintain affordable health expenditures is to cut back statutory health insurance (SHI) to a basic insurance and to introduce supplementary private health insurance (PHI), permitted to cover the remaining benefits and to apply managed care mechanisms. The measure is supposed to...

We apply meta regression analysis to a unique data set of 104 studies on multiplier effects with 1069 reported multipliers in order to derive stylized facts and to quantify the differing effectiveness of the composition of fiscal impulses, adjusted for the interference of study-design...

This paper investigates recent developments in meta-analysis, the tool to quantitatively synthesize research in a certain body of literature. After providing a brief overview on how to do a meta-analysis and discussing recent methodological advancements in the field, I review applied...

Using the bottom-up approach of Romer and Romer (2010), we construct a rich narrative dataset of net-revenue fiscal shocks for Germany by reconstructing and extending the tax shock series of Hayo and Uhl (2014) and coding a shock series for social security contributions, benefits and transfers....

Exploiting official historical records of the German Bundestag and Bundesrat, the Federal Ministry of Labour and Social Affairs and the German statutory pension insurance scheme, we construct a narrative of legislated social security changes for Germany between 1970 and 2013 in order to identify...

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0.9, can be explained by three factors: publication bias, use of aggregated data, and omission of the first-order condition for capital. The mean elasticity conditional on the...

Untersucht wird die Verteilungswirkung einer CO2-Bepreisung in den nicht vom Europäischen Emissionshandel abgedeckten Bereichen Wärme und Verkehr. Aufgrund der schnelleren und einfacheren Umsetzung wurde dabei die Bepreisung in Form einer CO2-Steuer betrachtet. Hierfür wurde ein Preispfad...

Preferences over wealth can explain why households do not spend more when real interest rates fall, because they save more than optimal under a standard model. However, little is known about preferences over wealth empirically. We run an intentionally simple lab experiment on intertemporal...