In this paper, we discuss how environmental damage and emission reduction policies affect the conduct of monetary policy in a two-sector (clean and dirty) dynamic stochastic general equilibrium model. In particular, we examine the optimal response of the interest rate to changes in sectoral...

In this paper, we discuss how environmental damage and emission reduction policies affect the conduct of monetary policy in a two-sector (clean and dirty) dynamic stochastic general equilibrium model. In particular, we examine the optimal response of the interest rate to changes in sectoral...

Fußball-Welt- und Europameisterschaften sind große gesellschaftliche Ereignisse. Gesamtwirtschaftlich fallen sie in großen Volkswirtschaften mit bestehender Sport- und Verkehrsinfrastruktur und vorhandenen Kapazitäten im Gastgewerbe allerdings kaum ins Gewicht. In diesem Beitrag werden...

Nach Ansicht der führenden deutschen Wirtschaftsforschungsinstitute bricht die Konjunktur in Deutschland als Folge der Corona-Pandemie drastisch ein. Um die Infektionswelle abzubremsen, hat der Staat die wirtschaftliche Aktivität hierzulande stark eingeschränkt. Deshalb dürfte das...

We disentangle the effects of monetary policy announcements on real economic variables into an interest rate shock component and a central bank information shock component. We identify both components using changes in interest rate futures and in exchange rates around monetary policy...

This paper contributes to the empirical literature on the employment effects of minimum wages. We analysed the introduction of a statutory minimum wage in Germany in 2015 exploiting cross-sectional variation of the minimum wage affectedness. We construct two variables that measure the...

The German economy has stagnated for over two years, with a slow recovery anticipated in the coming quarters. However, growth is unlikely to reach pre-COVID-19 levels anytime soon. Decarbonisation, digitisation, demographic changes, and heightened competition from China are dampening growth...