Category: Publications


On the Risk of a Sovereign Debt Crisis in Italy

(together with Tobias Knedlik and Axel Lindner), Intereconomics 53(6), 2018, 316-319. Abstract: The intention for the Italian government to stimulate business activity via large increases in government spending is not in line with the stabilisation of the public debt ratio.

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Upturn Loses Momentum – World Economic Climate Grows Harsher

(together with Roland Döhrn, Claus Michelsen, Stefan Kooths and Timo Wollmershäuser), Wirtschaftsdienst 98(10), 2018, 718-721. Abstract: The economic upturn in Germany is entering its sixth year but is losing momentum due to both demand and supply side factors. On the

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Expectation Formation, Financial Frictions, and Forecasting Performance of Dynamic Stochastic General Equilibrium Models

(with Christoph Schult) IWH Discussion Paper 15/2018 Abstract: In this paper, we document the forecasting performance of estimated basic dynamic stochastic general equilibrium (DSGE) models and compare this to extended versions which consider alternative expectation formation assumptions and financial frictions.

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Sovereign Stress, Banking Stress, and the Monetary Transmission Mechanism in the Euro Area

IWH Discussion Paper 3/2018 (together with Jan-Christopher Scherer) Abstract: In this paper, we investigate to what extend sovereign stress and banking stress have contributed to this increase in the level and in the heterogeneity of nonfinancial firms’ refinancing costs in

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The Effects of Fiscal Policy in an Estimated DSGE Model – The Case of the German Stimulus Packages During the Great Recession

Macroeconomic Dynamics, 2018 and IWH Discussion Paper 34/2017 (together with Andrej Drygalla and Konstantin Kiesel). Abstract: In this paper, we analyse the effects of the stimulus packages adopted by the German government during the Great Recession. We employ a standard

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How Can We Boost Competition in the Services Sector?

(Ed.) Baden-Baden: Nomos, 270 pages Abstract: ‘How Can We Boost Competition in the Services Sector?’ is a key question in the process of creating a more effi-cient economic environment in Germany. This book contains a collection of conference contributions on

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Employment Effects of Introducing a Minimum Wage: The Case of Germany

IWH Discussion Paper 28/2017 (together with Felix Pohle) Abstract: 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

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Inflation Dynamics During the Financial Crisis in Europe: Cross-sectional Identification of Long-run Inflation Expectations

IWH Discussion Paper 10/2017 (togehter with Geraldine Dany-Knedlik) Abstract: We investigate drivers of Euro area inflation dynamics using a panel of regional Phillips curves and identify long-run inflation expectations by exploiting the crosssectional dimension of the data. Our approach simultaneously

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Global Food Prices and Monetary Policy in an Emerging Market Economy: The Case of India

(together with Sushanta Mallick), Journal of Asian Economics 46, 2016, 56-70 Abstract: This paper investigates a perception in the political debates as to what extent poor countries are affected by price movements in the global commodity markets. To test this

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On the Distrubution of Refugees in the EU

(together with Martin Altemeyer-Bartscher, Axel Lindner, Andreas Schmalzbauer und Götz Zeddies), in: Intereconomics 51(4), 2016, 220-228 Abstract: The current situation regarding the migration of refugees can only be handled efficiently through closer international cooperation in the field of asylum policy.

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