(together with Alexander Kriwoluzky and Boreum Kwak), IWH Discussion Paper 17/2020 Abstract: 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 …

Exchange Rates and the Information Channel of Monetary Policy Read more »

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IWH Discussion Paper 4/2020, April 09, 2020 Abstract: In this paper, a simple integrated model for the joint assessment of epidemic and economic dynamics is developed. The model can be used to discuss mitigation policies like shutdown and testing. Since …

Integrated Assessment of Epidemic and Economic Dynamics Read more »

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(together with Felix Pohle) Economic Modelling 89, 2020, 108-121 (earlier version: IWH Discussion Paper 28/2017) Abstract: Income inequality has been a major concern of economic policy makers for several years. Can minimum wages help to mitigate inequality? In 2015, the …

Employment Effects of Introducing a Minimum Wage: The Case of Germany Read more »

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(together with Katja Heinisch and Christoph Schult), Energy Economics, forthcoming (and: IWH Discussion Paper 16/2019) Abstract: In the fight against global warming, the reduction of greenhouse gas emissions is a major objective. In particular, a decrease in electricity generation by …

Power Generation and Structural Change: Quantifying Economic Effects of the Coal Phase-out in Germany Read more »

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(together with Hans-Ulrich Brautzsch) IWH Discussion Paper 4/2019. Abstract We use the World Input Output Database (WIOD) to estimate the potential employment effects of a hard Brexit in 43 countries. In line with other studies we assume that imports from …

Potential International Employment Effects of a Hard Brexit Read more »

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(with Christoph Schult) Historical Social Research 44(2), 2019 and 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, Financial Frictions, and Forecasting Performance of Dynamic Stochastic General Equilibrium Models Read more »

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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 …

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

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Macroeconomic Dynamics 24(6), 2020, 1315-1345 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 …

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

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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 …

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

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(together with Sushanta Mallick), IWH Discussion Paper 15/2015 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 perception, we use …

Global Food Prices and Business Cycle Dynamics in an Emerging Market Economy Read more »

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