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Referierte Aufsätze Web of Science
Africa is one of the most vulnerable continents to climate change. Climate and sustainability-linked bonds can provide funding to African governments and corporations for projects that help to mitigate climate change, combat biodiversity loss, and foster sustainable development. However, less than 0.3% of the global environmental, social, governance (ESG) bond issuance volume is devoted to projects ...
In:
Eurasian Economic Review
14 (2024), S. 149–173
| Samuel Mutarindwa, Dorothea Schäfer, Andreas Stephan
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Referierte Aufsätze Web of Science
Rent control is a highly debated social policy that has been omnipresent since World War I. Since the 2010s, it is experiencing a true renaissance, for many cities and countries facing chronic housing shortages are desperately looking for solutions, directing their attention to controling housing rents and other restrictive policies. Is rent control useful or does it create more damage than utility? ...
In:
Journal of Housing Economics
63 (2024), 101983, 19 S.
| Konstantin A. Kholodilin
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Referierte Aufsätze Web of Science
In this paper, we analyse a sample of voluntarily published country-by-country reports (CbCRs) of 35 multinational enterprises (MNEs). We assess the value added and the limitations of qualitative and quantitative information provided in the reports based on a comparison to individual MNEs’ annual financial reports and aggregate CbCR data provided by the OECD. In terms of data quality, we find that ...
In:
International Tax and Public Finance
31 (2024), S. 593–634
| Sarah Godar, Giulia Aliprandi, Tommaso Faccio, Petr Janský, Katia Toledo Ruiz
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Referierte Aufsätze Web of Science
The dollar is a safe-haven currency and appreciates when global risk goes up. We investigate the dollar’s role for the transmission of global risk to the world economy within a Bayesian proxy structural vector autoregressive model. We identify global risk shocks using high-frequency asset-price surprises around narratively selected events. Global risk shocks appreciate the dollar, induce tighter global ...
In:
Journal of Monetary Economics
144 (2024), 103549, 12 S.
| Georgios Georgiadis, Gernot J. Müller, Ben Schumann
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Referierte Aufsätze Web of Science
This study investigates whether public procurement mitigates or exacerbates innovative enterprises’ financial constraints. We distinguish between general and environmentally beneficial innovative enterprises. Theory suggests that the treatment effects of public procurement, particularly when mediated by the demand-pull effect, may lower a company’s funding constraints for innovation. We test this theory ...
In:
Small Business Economics
62 (2024), S. 939–959
| Dorothea Schäfer, Andres Stephan, Sören Fuhrmeister
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Referierte Aufsätze Web of Science
This paper assesses the role of the housing market in the transmission of monetary policy across euro area regions. By exploiting a novel regional dataset on housing-related variables, a structural panel VAR analysis shows that conventional and unconventional monetary policy shocks propagate effectively to the economy, particularly to the housing sector, albeit in a heterogeneous fashion across regions. ...
In:
European Economic Review
171 (2025), 104897, 25 S.
| Niccolò Battistini, Matteo Falagiarda, Angelina Hackmann, Moreno Roma
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Referierte Aufsätze Web of Science
We investigate the interplay of the monetary–fiscal policy mix during times of crisis by drawing insights from the Great Inflation of the 1960s and 1970s. We use a Sequential Monte Carlo (SMC) algorithm to estimate a DSGE model with three distinct monetary/fiscal policy regimes. We show that, in such a model, SMC outperforms standard sampling algorithms because it is better suited to deal with multimodal ...
In:
European Economic Review
170 (2024), 104874, 16 S.
| Stephanie Ettmeier, Alexander Kriwoluzky
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Referierte Aufsätze Web of Science
This article investigates the impact of weather-related disasters on inflation in the euro area over the period 1996–2021. Using a panel structural vector autoregression approach, we explore whether weather-related disasters have a significant and persistent effect on inflation, as well as the role that demand-side and supply-side channels play as drivers of inflation. We also analyse the heterogeneous ...
In:
Journal of Banking & Finance
169 (2024), 107298, 13 S.
| John Beirne, Yannis Dafermos, Alexander Kriwoluzky, Nuobu Renzhi, Ulrich Volz, Jana Wittich
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Referierte Aufsätze Web of Science
There is ample empirical literature centering on the effectiveness of foreign exchange intervention (FXI). Given the mix of objectives and country-heterogeneity, the general lack of consensus thus far is no surprise. We shed light on this debate by conducting the first comprehensive meta-analysis in the FXI literature, with 279 reported effects that stem from 74 distinct empirical studies. We cover ...
In:
Journal of Financial Stability
74 (2024),100794, 24 S.
| Lucía Arango-Lozano, Lukas Menkhoff, Daniela Rodríguez-Novoa, Mauricio Villamizar-Villegas
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Referierte Aufsätze Web of Science
We study the dynamic interaction between COVID-19, economic mobility, and containment policy. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through traditional and narrative sign restrictions. We find that incidence shocks and containment shocks have large and persistent effects on mobility, morbidity, and mortality that last for one to two months. ...
In:
American Economic Journal: Macroeconomics
15 (2023), 4, S. 217–248
| Annika Camehl, Malte Rieth