In November 1991, the Commission of the European Communities commissioned the Institut für Weltwirtschaft to carry out a report on ‘Taxation in Border Regions’. This study is a revised version of the report, which was submitted in 1993. The purpose of this study is to analyse the present...

The value of the Danish commercial real estate market is large and developments within this market can have widespread implications for the financial system and the real economy. This memo provides an overview of the Danish commercial real estate market. It maps the stock of Danish commercial...

Im Rahmen der Studie werden wirtschaftliche Stärken und Schwächen beidseits der deutsch-dänischen Grenze sowie Handlungsfelder für eine vertiefte Kooperation in der Grenzregion identifiziert. Es wird analysiert, welche "kritischen Massen" in der Grenzregion mobilisiert werden könnten, um...

The distribution of cash holdings across Danish companies has changed dramatically since the onset of the Global Financial Crisis, with the median company more than doubling its cash reserves in the last ten years. Cash holdings are highly heterogeneous across companies. Large companies, less...

Some regional banks are highly exposed to flood risk. Yet, there is little evidence that banks manage these exposures. The lack of flood risk management in these banks could worsen the adverse local economic impact of a flood. Therefore, banks should incorporate flood risk in their risk management.

The ECB has ended its net purchases of bonds. As a result, the ECB will no longer dampen volatility in the euro area bond markets to the same extent. This may lead to greater volatility in the Danish mortgage bond market. In recent years, banks have reduced their market-making capacity in the...

We have estimated a new measure of pension wealth gains, covering the working-age population in Denmark during 2015-2022, in collaboration with Statistics Denmark. By linking this new data to the existing income and tax registers at the individual level, we provide a full picture of net...

Rising mortgage rates have led to one in five Danish fixed-rate mortgages to be refinanced during the first three quarters of 2022. The unique Danish match-funding principle has allowed fixed rate mortgage borrowers to buy back their existing mortgages at a 18 per cent discount, on average. 62...

Unemployment risk is highly heterogeneous in Denmark: a group of marginal workers constitutes 15 per cent of the labour force but makes up roughly 60% of the unemployed in Denmark. These marginal workers cycle more through jobs, have longer and more frequent spells of unemployment and leave...