(together with Christian Dreger and Marius Fourné), IWH Discussion Paper 7/2022 Abstract: Since the onset of globalisation, production activities have become increasingly fragmented and organised in global value chains (GVC). These networks facilitate trade in intermediaries across industrial sectors and …

Globalization, Productivity, and Labor Compensation Read more »

(together with Hans-Ulrich Brautzsch), Journal of Economic Structures 10, Article 11, 2021. Abstract: 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 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 »

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 »

(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 »

(together with Katja Heinisch and Christoph Schult), Energy Economics 95, March 2021, 105008 (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 …

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 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 »

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 »

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 »

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 »