(together with Alessandro Sardone) Energy Economics 161, 109544, 2026 Abstract: This paper studies how environmental fiscal policies like carbon taxes and emission caps affect the conduct of monetary policy in a two-sector Environmental Dynamic Stochastic General Equilibrium model. The clean …

Monetary Policy Rules and Environmental Fiscal Policy in a Two-sector DSGE Model Read more →

(mit Boreum Kwak und Alexander Kriwoluzky) Oxford Bulletin of Economics and Statistics, 2026, https://doi.org/10.1111/obes.70074 Zusammenfassung: Exploiting the heteroskedasticity of the changes in short-term and long-term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy …

Is There an Information Channel of Monetary Policy? Read more →

(gemeinsam mit Hans-Ulrich Brautzsch), Journal of Economic Structures 10, Article 11, 2021 Zusammenfassung: We use the World Input–Output Database (WIOD) combined with regional sectoral employment data to estimate the potential regional employment effects of international trade barriers. We study the …

Potential International Employment Effects of a No-Deal Brexit Read more →

(together with Stefan Gießler and Katja Heinisch), Journal of Economics and Statistics 241(1), 2021, 1-18. Abstract: We analyze whether, and since when, East and West German business cycles are synchronised. We investigate real GDP, unemployment rates and survey data as …

(Since When) Are East and West German Business Cycles Synchronised? Read more →

(together with Pao-Yu Oei, Hauke Hermann, Philipp Herpich, Benjamin, Lünenbürger and Christoph Schult), Energy – The International Journal, Volume 196, 2020, 117004. Abstract: The present study examines the consequences of the planned coal phase-out in Germany according to various phase-out …

Coal Phase-out in Germany – Implications and Policies for Affected Regions Read more →

(gemeinsam mit Joao Claudio and Katja Heinisch), Empirical Economics 58(1), 2020, 29-54 Zusammenfassung: Economic forecasts are an important element of rational economic policy both on the federal and on the local or regional level. Solid budgetary plans for government expenditures …

Nowcasting East German GDP growth: a MIDAS approach Read more →

(zusammen mit Felix Pohle) Economic Modelling 89, 2020, 108-121 (frühere Fassung: IWH Discussion Paper 28/2017) Zusammenfassung: 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 →

(mit Katja Heinisch und Christoph Schult), Energy Economics, 95, March 2021, 105008 (und: IWH Discussion Paper 16/2019) Zusammenfassung: In the fight against global warming, the reduction of greenhouse gas emissions is a major objective. In particular, a decrease in electricity …

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

(with Christoph Schult) Historical Social Research 44(2), 2019, 313-339 and IWH Discussion Paper 15/2018 Zusammenfassung: 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 …

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

Zeitschrift für Wirtschaftspolitik 67(3), 247-265 und IWH Discussion Paper 5/2018 (mit Christoph Schult und Götz Zeddies) Zusammenfassung: Im Koalitionsvertrag von CDU, CSU und SPD vom 7. Februar 2018 formuliert die neue Bundesregierung ihre rentenpolitischen Ziele. Diese sind vor dem Hintergrund …

Zu den rentenpolitischen Plänen im Koalitionsvertrag 2018 von CDU, CSU und SPD: Konsequenzen, Finanzierungsoptionen und Reformbedarf Read more →