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on Microeconomic European Issues |
| By: | Natalia Bermudez-Barrezueta (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)); Bart Cockx (Department of Economics, Ghent University, Belgium. IRES/LIDAM, UCLouvain, Belgium. IZA, Bonn, Germany. CESifo, Munich, Germany. ROA, Maastricht University); Gert Bijnens (Economics and Research Department, National Bank of Belgium) |
| Abstract: | We evaluate the effectiveness of Belgium’s short-time work (STW) program during the Great Recession, a period when the country recorded the highest STW take-up rate in Europe. STW allows firms to reduce working hours in response to temporary shocks while avoiding layoffs, playing a key role in European labor market insurance systems. Using an instrumental variable strategy that exploits quasi-exogenous variation stemming from an institutional feature of the Belgian program, we estimate the causal effects of STW on employment and wages. We find that, while STW significantly reduces the volume of work per worker, it does not lead to statistically significant employment gains for the average treated firm. Importantly, positive employment effects are concentrated among small manufacturing firms, which are more likely to face binding liquidity constraints. These findings highlight the importance of targeting and screening in improving the cost-effectiveness of STW programs and minimizing deadweight losses. |
| Keywords: | Short-time work; employment; wages; unemployment insurance |
| JEL: | E24 J22 J23 J63 J65 |
| Date: | 2025–07–30 |
| URL: | https://d.repec.org/n?u=RePEc:ctl:louvir:2025014 |
| By: | Zaharieva, Anna; Afonina, Mariya |
| JEL: | C21 J31 J62 J64 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325381 |
| By: | Federico Fabio Frattini (Fondazione Eni Enrico Mattei) |
| Abstract: | This paper investigates how concurrent national and local elections affect the local political participation and competition. Leveraging a quasi-experimental framework provided by Italy’s staggered electoral timing, the paper employs a difference-in-differences design. Estimates reveal that municipalities holding concurrent elections exhibit lower levels of local participation and competition. Moreover, the concurrent election increases participation by candidates with nationally-established parties, while decreases participation with independent parties. This further translates into a higher votes share for nationally-established parties and a consequent higher probability of election. Elected mayors tend to have lower education and experience in office, while they are more likely to be from the municipality they were elected in. Further, elected mayors are able to attract more intergovernmental transfers, without substantially affecting local spending patterns. |
| Keywords: | Concurrent elections, Political Competition, Political Participation |
| JEL: | D72 H70 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2025.15 |
| By: | Antonio Abatemarco (Department of Economics and Statistics, University of Salerno and CELPE); Roberto Dell’Anno (Department of Economics and Statistics, University of Salerno and CELPE); Elena Lagomarsino (Department of Economics, University of Genova) |
| Abstract: | The implementation of environmental policies varies substantially across geographical areas. This paper proposes a conceptual and methodological framework—adapted from the health economics literature— to assess equity in the allocation of environmental policy effort. We define “environmental care” as the set of local policy interventions aimed at improving environmental quality within an area, and evaluate its distribution relative to environmental need. Using direct and indirect standardization techniques, we measure horizontal inequity (unequal care among areas with similar need) and vertical inequity (differential care in response to differing needs). Applying this framework to traffic-related air pollution policies in Italian municipalities from 2012 to 2021, we find that the observed reduction of overall inequality in environmental care is mostly driven by a decline in horizontal inequity. However, we find evidence of persistent socioeconomic disparities, with lower-income municipalities receiving disproportionately less policy effort relative to their environmental needs. |
| Keywords: | environmental equity, environmental inequality, air pollution, distributive justice |
| JEL: | Q53 Q58 R58 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2025.14 |
| By: | Giuselle Pio Dachille (INPS, Rome); Maria De Paola (University of Calabria, INPS Direzione Centrale Studi e Ricerche, Institute for the Study of Labor (IZA)); Roberto Nisticò (University of Naples Federico II, Department of Economics and Statistics, and CSEF) |
| Abstract: | We study the fertility effects of Italy’s Reddito di Cittadinanza (RdC), a national minimum income program introduced in 2019. Exploiting administrative data from the Italian Social Security Institute and a Fuzzy Regression Discontinuity Design, we document that RdC increased recipients’ childbirth probability by 1.5 percentage points (18%) over two years in the South, with no effect in the Centre-North. Labor supply declined by 10%, but only in the Centre-North. Regional heterogeneity reflects differences in gender norms, financial constraints, and opportunity costs of child bearing. Our findings highlight how income transfers interact with local context to shape demographic and labor market behavior. |
| Keywords: | Fertility; Guaranteed Minimum Income; RDD |
| JEL: | H53 J13 C21 |
| Date: | 2025–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:sef:csefwp:757 |
| By: | Daelen, Anna L. M. |
| JEL: | J24 J31 H56 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325449 |
| By: | Benjamin Bittschi (WIFO); Rainer Eppel (WIFO); Ulrike Famira-Mühlberger (WIFO); Helmut Mahringer (WIFO); Christine Zulehner |
| Abstract: | This paper combines a counterfactual impact analysis using rich administrative data with a participant survey to assess the long-term labour market effects of Austria's large-scale educational leave programme. The scheme allows eligible employees to take full- or part-time leave for further education, supported by income-compensating benefits. We find that participation substantially increases monthly earnings but does not improve employment probability. Full-time leave reduces employment in the short term and modestly in the long term, offsetting wage gains and resulting in no increase in cumulative earnings. Part-time leave yields even larger monthly wage increases and clear cumulative earnings gains, with no significant employment effects. |
| Keywords: | Educational leave, continuing education, labour-market outcomes |
| Date: | 2025–09–24 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:wpaper:y:2025:i:712 |
| By: | Freitas, Dimitria |
| Abstract: | Regional economic disparities within countries have become increasingly large, often surpassing the disparities observed between countries. To address regional inequality, governments have been turning away from standard subsidies and are experimenting with public employment reallocation as a place-based policy. This paper estimates the causal effect of public employment reallocation on local labor markets. I study the 'Heimatstrategie, ' which relocates around 3, 000 public sector jobs from Munich to economically lagging regions in Bavaria, Germany. Using novel data on 60 agency relocations between 2015 and 2025, I exploit the government's quantitative selection criteria for receiving municipalities and implement a long-differences design comparing treated Bavarian municipalities to Mahalanobis-matched control municipalities in other German states. My estimates show that relocations increased private sector employment shares by up to 2.3%, reduced unemployment rates by up to 11.9%, and increased local population by up to 1.6% without harming sending locations. These results correspond to a public-to-private jobs multiplier of 1.08. To assess general equilibrium effects the relocation program, I implement a quantitative spatial model with a two-sector (public and private) framework showing modest increases in amenities through the relocation counterfactual and negligible welfare effects. |
| JEL: | J21 J45 J68 R23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325457 |
| By: | Julia Hellstrand (Max Planck Institute for Demographic Research, Rostock, Germany); Linus Andersson; Lars Dommermuth; Peter Fallesen; Ari Klængur Jónsson; Marika Jalovaara; Mikko Myrskylä (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | Recent period trends in the Nordic countries show rapid declines in first births, particularly among lower-educated men and women. This study translates these period changes into cohort patterns and analyzes observed and forecasted ultimate childlessness by education for men and women born 1970–1987/88 in Denmark, Finland, Iceland, Norway, and Sweden using register-based data. We apply three forecasting methods: freeze rates, five-year extrapolation, and a nonparametric approach based on historical first-birth probabilities. Results reveal the steepest increases in ultimate childlessness among the lowest educated, approaching as high as 40% among low-educated women and 50% among low-educated men in some of the countries. Among the higher tertiary educated, childlessness is overall lower and remains relatively stable. By contrast, men with lower tertiary education show notable increases in childlessness, in some cases reaching levels similar to or higher than those of upper-secondary-educated men. While overall childlessness in Denmark remains stable, it exhibits the fastest widening educational gap. These findings underscore a growing educational polarization in the transition to parenthood across the Nordic societies, with women’s childlessness patterns increasingly resembling those of men—a marked shift in the region’s fertility landscape. Keywords: Ultimate childlessness, educational gradients, Nordic countries, forecasting, gender convergence |
| JEL: | J1 Z0 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:dem:wpaper:wp-2025-029 |
| By: | Olivier Marie; Esmée Zwiers |
| Abstract: | This paper presents new causal evidence on the “power” of oral contraceptives in shaping women’s lives, leveraging the 1970 liberalization of the Pill for minors in the Netherlands and demand- and supply-side religious preferences that affected Pill take-up. We analyze administrative data to demonstrate that, after Pill liberalization, minors from less conservative areas were more likely to delay fertility/marriage and to accumulate human capital in the long run. We then show how these large effects were eliminated for women facing a higher share of gatekeepers – general practitioners and pharmacists – who were opposed to providing the Pill on religious grounds. |
| Keywords: | birth control, religion, fertility, marriage, human capital, the Netherlands |
| JEL: | I18 J12 J13 Z12 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12157 |
| By: | Ciaschi, Matías; Marchionni, Mariana; Neidhöfer, Guido |
| Abstract: | We assess intergenerational mobility in terms of education and income rank in five Latin American countries - Brazil, Chile, Ecuador, Mexico, and Panama - by accounting for the education and occupation of both parents. Based on the Lubotsky and Wittenberg (2006) approach, we find that intergenerational persistence estimates increase by 26% to 50% when parents' occupations are considered alongside their education to proxy family socioeconomic background. The increase is particularly strong when education is more evenly distributed in the parents' generation. Furthermore, we assess how the informativeness of each proxy for parental background evolves across countries and over time, and find that maternal characteristics have become increasingly informative in recent decades, in line with rising women's educational attainment and labor force participation. Interesting heterogeneities across countries and cohorts are observed. |
| Keywords: | Intergenerational Mobility, Education, Occupation, Mothers, Latin America |
| JEL: | D63 J62 O15 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:327110 |
| By: | Matthew Gudgeon; Pablo Guzman-Pinto; Johannes Schmieder; Simon Trenkle; Han Ye |
| Abstract: | We show that the non-employment effects of unemployment insurance (UI) for older workers depend critically on retirement policy. Using German data, we document large bunching in UI inflows at the age that allows workers to claim their pension following UI expiration. Inflows respond strongly to several UI and pension reforms. We probe the implications of these behavioral responses using a dynamic model and find that Germany’s UI and retirement policy changes had substantial effects on the unemployment rate of older workers. Furthermore, we calculate large fiscal externalities from extending UI for older workers, especially under generous retirement policies. |
| Keywords: | Unemployment insurance, moral hazard, retirement, older workers, interactions |
| JEL: | J26 J64 J65 |
| Date: | 2023–12 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2023_481v2 |
| By: | Julia Eder (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria; Socio-Ecological Transformation Lab, Johannes Kepler University Linz, Austria); Jakob Rammer (University of Vienna, Austria) |
| Abstract: | The European Unions (EU) green agenda, embedded in the European Green Deal, is promoted as a strategy to tackle intertwined crises of climate change, energy insecurity, and profit overaccumulation in a tense geopolitical environment. Central to this agenda is the large-scale deployment of green hydrogen (GH2) as both an energy storage solution and a decarbonisation pathway for hard-to-abate sectors. While the EU sets ambitious targets of 10 million tons of domestic GH2 production and an equivalent volume of imports by 2030, these goals rely heavily on establishing supply partnerships with countries in the Global South. This article interrogates the EUs GH2 strategy through the lens of dependency theory, focusing on Chile, a country with vast renewable energy potential and positioned by the EU as a trusted ally. Drawing on eleven expert interviews conducted in Europe and Chile as well as a qualitative content analysis of policy documents, we analyse how EU-Chile hydrogen cooperation materialises in politico-economic practice. Our findings suggest that, while framed as mutually beneficial, the EUs GH2 agenda risks reinforcing Chiles peripheral role in the global division of labour and locking the country into resource-based specialisation. We conclude that the emerging hydrogen partnership exemplifies both the opportunities and dependency-related pitfalls of the EUs green transition when transposed onto North-South relations. |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:ico:wpaper:168 |
| By: | Janser, Markus; Jarvis, Stephen; von Graevenitz, Kathrine; Wagner, Ulrich J. |
| JEL: | D22 H23 L23 L60 Q52 Q54 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325466 |
| By: | Kagerer, Benedikt; Pancaro, Cosimo; Reghezza, Alessio; De Vito, Antonio |
| Abstract: | This paper investigates how unrealized losses on banks’ amortized cost securities affect monetary policy transmission to bank lending in the euro area. Leveraging the sharp increase in interest rates between 2022 and 2023 and using granular supervisory data on security holdings and loan-level credit register data, we show that a one percentage point increase in the share of unrealized losses on amortized cost securities amplifies the contractionary effect of monetary tightening on lending supply by approximately one percentage point. This effect is more pronounced for weakly capitalized and less liquid banks, and those relying more on uninsured deposits. We further document that banks respond to growing unrealized losses by raising capital and passing through interest rate increases to depositors via higher deposit betas. Importantly, banks that employ interest rate hedging strategies can fully offset the negative impact of unrealized losses on credit supply. The contraction in lending is particularly severe for smaller borrowing firms, highlighting the uneven economic consequences of hidden balance sheet fragilities during a tightening cycle. JEL Classification: E43, E52, G21, G32, M41 |
| Keywords: | amortized cost accounting, bank lending, monetary policy transmission, security holdings, unrealized losses |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253129 |
| By: | Dionysia Rallatou; Michail Tsagris; Vangelis Tzouvelekas (Department of Economics, University of Crete, Greece) |
| Abstract: | This paper investigates the link between political polarisation and inequality in Europe from 1989 to 2024. Using Bayesian Aldrich-McKelvey scaling, the DER polarisation index, and Araar decomposition, it traces polarisation's regional and structural foundations. Results show that polarisation has risen steadily, with Mediterranean and Central/Eastern Europe consistently more polarised than Western and Northern regions. Araar decomposition reveals that polarisation stems mainly from between-group alienation, not within-group identification. Divides over EU membership, class, and urban-rural residence account for much of the increase, with radical groups contributing disproportionately. Fixed-effects regressions confirm that inequality is the strongest determinant of polarisation: higher Gini values consistently predict greater antagonism. Economic growth reduces polarisation only under egalitarian conditions; when coupled with inequality, it amplifies divides. These findings highlight |
| Keywords: | political polarisation, inequality, EU, economic growth, affective polarisation |
| JEL: | C23 C38 D31 D72 |
| Date: | 2025–09–26 |
| URL: | https://d.repec.org/n?u=RePEc:crt:wpaper:2501 |
| By: | Wett, Valentin |
| JEL: | J61 J24 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325408 |
| By: | Magdalena Smyk (Group for Research in Applied Economics (GRAPE); Warsaw School of Economics) |
| Abstract: | Using data from the American Time Use Survey and hurdle regression models, this study examines how the gender composition of occupations relates to time spent on housework and childcare. We find that women in male-dominated occupations spend more time on housework than those in female-dominated or gender-neutral fields, suggesting that breaking occupational norms in the labor market does not necessarily translate into less traditional domestic roles. Such mothers are less likely to engage in childcare, although when involved spent the same amount of time on childcare and quality time, and higher earnings are associated with more time spent with children. For men, the patterns differ: fathers in gender-neutral or female-dominated occupations are more likely to participate in childcare and devote more time to it, while those in male-dominated jobs are more likely to report no childcare at all. Increased paternal childcare does not coincide with more housework, indicating a selective reallocation of time. The findings highlight the need for policies that address both occupational segregation and the domestic division of labor to promote gender equality at work and at home. |
| Keywords: | unpaid work, childcare, gender occupational segregation |
| JEL: | J16 J22 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:fme:wpaper:108 |
| By: | Robbie Maris (UCL Centre for Education Policy & Equalising Opportunities (CEPEO) & Education Policy Institute (EPI)) |
| Abstract: | Upper-secondary technical and vocational education and training (VET) is responsible for educating a large proportion of the world’s population, significantly impacting productivity and economic growth. Over recent years, there has been a global trend towards combining academic and vocational tracks into one pathway within upper secondary education. In this paper, we analyse the short-run impacts of one of the most recent of these efforts – the T level reforms in England. T levels are large VET qualifications that are more academically oriented than existing VET qualifications and are designed in-part to support progression to further academic or vocational study. Using a combination of quasi-experimental methods (instrumental variables, regression adjustment and matching), we find mixed impacts of T levels on student achievement and progression. T level students are significantly less likely to achieve a full level 3 by the age of 18. However, T level students are more likely to progress to advanced apprenticeships and higher technical study. We show that these impacts are more negative for the marginal student and when considering other level 3 vocational pathways as an alternate form of study. We also find heterogeneity by T level pathway (subject), indicating that some pathways are performing significantly better than others. |
| Keywords: | Education, Instrumental Variables, Qualifications, Technical, UK, Vocational |
| JEL: | I26 I28 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:ucl:cepeow:25-11 |
| By: | Nina Gorovaia (Frederick University); Dildar Hussain (ESC [Rennes] - ESC Rennes School of Business) |
| Abstract: | We investigate the relationship between corporate social responsibility (CSR) and brand competitiveness in franchising. Our paper demonstrates the challenges of adopting CSR programs in franchise networks as franchisees are independent entrepreneurs whose activities are governed by franchise contracts. We measure CSR on two dimensions: proactive CSR-franchisor's strategy, and partner preference-selection of franchisees with proven CSR commitment. Grounded in the brand co-creation concept, we crowdsource the brand competitiveness data from an anonymous crowd of customers-active experiencers of the brand and use traditional survey methodology to collect brand data from the franchisors-original brand creators. The franchisor survey had 65 usable responses, with data collected from senior managers of franchise organizations in Austria. In the crowdsourced survey, each brand received a different number of assessments from min 87 to max 238, with an average of 142 assessments per brand. The results of cluster and regression analyses suggest that CSR positively influences franchise firms' brand competitiveness.Prior studies have examined the prevalence of CSR in franchising (Meiseberg and Ehrmann 2012), corporate social disclosure (Perrigot et al. 2015; Le Bot et al. 2022), the effectiveness of CSR communications (Oueslati et al. 2023), and the performance of CSR routines (Lawrence et al. 2024). However, the following three key gaps persist:1. CSR and Brand Competitiveness: No research investigates how CSR translates to brand competitivenessdefined as a brand's ability to outperform rivals through This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made. |
| Keywords: | proactive CSR, Partner preference, Franchising, Crowdsourcing, Corporate social responsibility, brand competitiveness, brand co-creation |
| Date: | 2025–05–21 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05233649 |
| By: | César Barreto; Christian Merkl |
| Abstract: | Our paper documents the importance of ex ante worker heterogeneity for labor market dynamics and for the composition of the unemployment pool over the business cycle. In recessions, the unemployment pool shifts toward workers with higher wages in their previous jobs. Based on administrative data for Germany and two-way worker and firm wage fixed effects, we show that this shift is mainly connected to worker heterogeneity, not to firm heterogeneity. We calibrate a search and matching model with ex ante worker heterogeneity to the estimated relative residual wage dispersion across worker fixed-effect groups. We show that a lower idiosyncratic match-specific shock dispersion for high-wage workers is key for the larger relative fluctuations of their separation rate as well as for the positive comovement between prior wages and fixed effects of unemployed workers with aggregate unemployment. We argue that firm-based explanations, such as cyclical financial frictions, are unlikely to be key drivers for the documented empirical patterns. |
| Keywords: | labor market flows, separations, fixed effects, labor market dynamics |
| JEL: | E24 J16 J31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12165 |
| By: | Lea Best; Benjamin Born; Manuel Menkhoff |
| Abstract: | The sensitivity of firms’ investment to interest rates is central to the transmission of monetary policy, yet direct firm-level evidence is scarce. We provide such evidence using the ifo Business Survey of German firms, combining hypothetical vignettes, open-ended questions, and rich firm-level information. The vignette design implies a semi-elasticity of investment to loan rates of 7 percent—a partial-equilibrium effect roughly half the total corporate investment response to monetary policy shocks. Adjustment is heterogeneous: many firms do not adjust, often citing cash buffers or a lack of profitable opportunities, while adjusters revise plans sharply. Responsiveness is dampened by sticky hurdle rates but amplified by financial constraints, labor shortages, and capital durability. Managers’ narratives about monetary policy transmission to investment emphasize the direct interest rate channel, rarely mentioning general-equilibrium channels, and many do not consider monetary policy changes. Local projections show the direct interest rate channel plays a first-order role in output dynamics after monetary policy shocks. |
| Keywords: | interest rates, firm investment, survey experiment, monetary policy, narratives, hurdle rates, aggregate investment |
| JEL: | D25 E43 E52 G31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12167 |
| By: | Michel Bierlaire (TRANSP-OR, EPFL); Vincent Dautel (LM, LISER); Frédéric Docquier (UDM, LISER); Silvia Peracchi (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)) |
| Abstract: | This study examines the influence of agglomeration and deglomeration forces on residence-workplace location choices across skill groups. Contrary to the standard approach in economic geography, the focus on skills rather than people is particularly relevant in knowledge-based economies, where core-periphery dynamics are driven by skill disparities. Our case study examines the mobility of French-born workers within the Greater Region surrounding Luxembourg. Between 2005 and 2019, an estimated 38, 445 additional workers aged 20-59 joined the Luxembourg economy, of which 25, 801 were highly educated. We examine how wage differentials and housing costs, among other factors, have influenced migration and commuting patterns across skill groups. Our results show that while higher housing costs in core areas create deglomerative effects for low- and medium-skilled workers, high-skilled workers are more responsive to wage differentials and remain undeterred by rising housing prices. These forces alone have increased the number of tertiary-educated movers by 8, 619 between 2005 and 2019, compared to 3, 091 medium-skilled and 543 low-skilled. They substantially contributed to the doubling of the ”brain drain“ from the periphery to the core (from 12 to 24%) and to the widening of regional skill differentials. Overall, these findings underscore the need to look beyond people and consider skill differentials when modeling core-periphery dynamics or formulating policies to promote inclusive regional development. |
| Keywords: | Regional mobility, Human capital, Core-periphery dynamics |
| JEL: | R23 J61 R12 |
| Date: | 2025–09–23 |
| URL: | https://d.repec.org/n?u=RePEc:ctl:louvir:2025015 |
| By: | Brox, Enzo; Krieger, Tommy |
| Abstract: | We study how far-right mass rallies affect people's views about a city and thus location choices of nationals. To this end, we first exploit that the city of Dresden (Germany) unexpectedly experienced such rallies at the turn of the year 2014/15. Results from dyadic difference-in-differences and Synthetic Control analyses suggest that the number of (young) German adults who moved from another region to Dresden declined by around 10% due to the far-right mass protests. We complement our first analysis with a conjoint experiment where participants decide between two hypothetical cities. This experiment confirms that far-right rallies have a dissuasive effect and shows that left-wing people react stronger than right-wing people. It also reveals that far-right protests cause security concerns and concerns about finding like-minded people. The latter reaction is only observed for people that do not support the far right. |
| Keywords: | far-right movements, location decisions, internal migration, political protest, populism, regional competition for talent, reputation of cities, university students |
| JEL: | D72 I23 O15 P00 R23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:327113 |
| By: | Claussen, Jörg; Streich, David |
| JEL: | H23 H31 R23 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325422 |
| By: | Liang, Ying |
| JEL: | J31 J38 J21 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325468 |
| By: | Bechlioulis, Alexandros P.; Chletsos, Michael; Christou, Tryfonas; Karadimitropoulou, Aikaterini E. |
| Abstract: | This paper examines whether minimum wage reforms affect income inequality among low-wage workers. We construct a novel “within-occupation” measure of wage dispersion, using a Greek dataset between 2010 and 2020. Using modern difference-in-differences analysis for causal inference, our findings show non-symmetrical effects on wage dispersion when a minimum wage reform is imposed. In particular, the minimum wage cut of 2012 did not alter the wage dispersion of low-wage workers, while the minimum wage increase of 2019 led to a decrease in wage inequality at the bottom segment of the labor market. Our paper equips policymakers with a solid understanding of the effects of minimum wage reforms on wage inequality and highlights the important role of wage rigidities in shaping these effects. |
| Keywords: | income inequality; wage inequality; minimum wage reform; modern difference-in-difference analysis; quantile regression |
| JEL: | C31 J08 J31 |
| Date: | 2025–07 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129622 |
| By: | Abuzayed, A.; Pollitt, M. G.; Liebensteiner, M.; Hochgreb, S. |
| Abstract: | Retrofitting gas-fired power plants to accommodate low-carbon fuel blends offers a promising pathway to achieving deep decarbonization while leveraging the existing infrastructure and maintaining electricity supply reliability. This study presents a comprehensive techno-economic assessment of low-carbon fuel options for decarbonizing combined cycle gas turbines (CCGTs), evaluating both fuel switching and blending strategies using green hydrogen, green ammonia, and biomethane. We estimate capital investment requirements for retrofitting existing fleets and building new CCGT capacity in Germany and the UK, featuring a case study case of retrofitting a relatively new CCGT power plant (Keadby2 in the UK). Our findings reveal that retrofitting increases the levelized cost of electricity (LCOE) by about 6–13 €/MWh, with storage infrastructure representing a key cost driver. Fuel blending enhances operational flexibility but raises retrofitting costs. Biomethane emerges as the most cost-effective option due to its compatibility with existing infrastructure and negligible retrofitting needs, potentially cutting capital investments by up to €16.5 and €12 billion in Germany and the UK, respectively. However, even under the most favorable conditions, the marginal cost of electricity using low-carbon fuels exceeds 120 €/MWh, leaving natural gas more competitive at current market conditions. Strategic retrofitting decisions must be pursued selectively, considering plant age, proximity to fuel supply, and storage infrastructure. Policy frameworks ensuring simultaneous supply and infrastructure development are critical to realizing the potential of fuel blending and retrofitting strategies. |
| Keywords: | Deep Decarbonization, Low-Carbon Fuels, Fuel-Blending, Combined-Cycle Gas Turbines (CCGT) |
| JEL: | Q42 Q48 |
| Date: | 2025–09–24 |
| URL: | https://d.repec.org/n?u=RePEc:cam:camdae:2557 |
| By: | Giovanni Righetto; Paolo Vanin |
| Abstract: | While democratization and enfranchisement are known to benefit minority groups in the long run, sudden increases in political representation can disrupt existing power balances, provoke resistance, and lead to worse policy outcomes in the short run. We document and explain this pattern. In our theoretical model, conflict and backlash are triggered by a sufficient increase in political power if preferences are sufficiently different. We exploit the introduction of an affirmative action measure in Italian local elections, which led to an exogenous increase in female political representation in small municipalities. Using a Difference in Discontinuity design, we document that, in line with the theory, moderate increases in female representation led to higher day care spending, while large increases resulted in lower spending on this gender-sensitive issue. Higher council dissolution rates and null effects on non-gender-related policy areas support the interpretation of the evidence suggested by the theory. Several robustness checks and evidence from Spanish data also support the internal and external validity of our findings. |
| JEL: | D71 H53 I38 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:bol:bodewp:wp1213 |
| By: | Alessandro Gioffré (University of Florence); Gabriele Camera (Economic Science Institute, Chapman University) |
| Abstract: | Tokenization of assets has multiple implications for the operation of financial markets, among which are mitigating trade frictions and improving the interconnectedness of financial firms. This feature—if not properly managed—can propagate shocks more widely as compared to a traditional system. We study this double-edged aspect of tokenization using a matching model that makes explicit how firms are exposed to counterparty risk. We propose a way to manage this increased risk, through Financial Transactions Limiters, which exploit the technical advantages of tokenization in monitoring financial transactions of individual firms. We numerically analyze the possible social welfare consequences of tokenization, in both the short and long run, based on the economy’s fundamentals. |
| Keywords: | matching models, fintech, contagion |
| JEL: | C6 D6 E5 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:chu:wpaper:25-08 |
| By: | Sturm, Miriam; Biewen, Martin; Fitzenberger, Bernd; Erhardt, Pascal |
| JEL: | J20 J21 J31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325424 |
| By: | Gaétan de Rassenfosse (Ecole polytechnique federale de Lausanne); Ling Zhou (Ecole polytechnique federale de Lausanne); |
| Abstract: | A patent system is a central tool in innovation policy. The prospect of monopolistic pricing supposedly encourages firms to innovate. However, there is scant empirical evidence supporting the existence of higher markups for patent-protected products. Using an original dataset that links consumer products to the patents that protect them, we study the impact of patent protection on product prices. Exploiting exogenous variations in patent status, we find that a loss of patent protection leads to an 8–10 percent drop in product prices. The price drop is larger for more important patents and is more pronounced in more competitive product markets. |
| Keywords: | innovation; markup; patent system; product; R&D incentive |
| JEL: | O31 O34 L11 D42 K11 |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:iip:wpaper:29 |
| By: | Claude Diebolt; Magali Jaoul-Grammare |
| Abstract: | Les choix d’études ne relèvent pas d’un simple calcul individuel : ils s’inscrivent dans un univers de représentations, d’aspirations et de contraintes qui diffèrent selon le genre. Attentes contrastées, rapport au risque et à la rémunération, visions de l’avenir professionnel : autant d’éléments qui façonnent de manière différenciée les trajectoires des filles et des garçons. Mais qu’en est-il du prestige social des professions ? Son pouvoir d’attraction s’exerce-t-il avec la même intensité sur les unes et les autres ? Le phénomène de substitution entre filières prestigieuses, notamment entre droit et médecine, obéit-il à une logique sexuée ? Et le numerus clausus, en régulant l’accès à la sphère médicale, agit-il également comme un révélateur des écarts d’ambition ? |
| Keywords: | Choix des études, genre, prestige des professions, France. |
| JEL: | I21 J24 N34 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ulp:sbbeta:2025-36 |
| By: | Krauß, Marina; Hermes, Henning; Lergetporer, Philipp; Peter, Frauke; Wiederhold, Simon |
| JEL: | J16 J18 J22 C93 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325378 |
| By: | Hou, Shihang; Heath Milsom, Luke |
| JEL: | J01 J31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325461 |
| By: | Nathalie Picard; André de Palma |
| Abstract: | This chapter explores residential location models through a comprehensive review of the literature, key facts, theoretical frameworks, estimation methods, and simulation techniques. It focuses on the factors driving residential segregation using a standard individual discrete choice model, specifically a nested logit framework. This model incorporates household preferences for local amenities, dwelling types, and homeownership. The analysis is extended by introducing borrowing constraints that restrict some households' ability to purchase property. To illustrate, the framework is applied to the Paris region. By relaxing borrowing constraints, we simulate a hypothetical redistribution of socio-demographic characteristics across the region and demonstrate how this tool can be employed for policy analysis. A comparison of actual and simulated distributions reveals that easing credit constraints encourages households to relocate farther from the city center. However, if only poor households benefit, they are less likely to integrate with wealthier households, thereby intensifying segregation. This finding highlights those policies designed to support low-income households might inadvertently increase segregation citywide, necessitating careful re-evaluation. |
| Keywords: | Housing choice, financial constraints, borrowing, segregation, suburban areas, urban sprawl, endogenous choice sets. |
| JEL: | R21 R23 R31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ulp:sbbeta:2025-33 |
| By: | Bruns, Daniel; Thomsen, Stephan L. |
| JEL: | Q48 Q51 Q53 R31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325450 |
| By: | Alessandra Drigo (University of Milan, Department of Environmental Science and Policy, and Fondazione Eni Enrico Mattei) |
| Abstract: | This study offers the first analysis of environmental and climate inequalities at the census tract level in Italy, providing valuable insights into spatial patterns of environmental and social vulnerability. The results highlight significant environmental inequality related to exposure to air pollution (PM2.5), as well as climate inequality linked to thermal discomfort (measured by the Discomfort Index). Among all regions, the Padana Valley stands out as the most severely affected by both stressors, marking its population as particularly vulnerable regardless of their socioeconomic status. At the national level, the analysis identifies a negative correlation between exposure to environmental stressors and income proxies, and a positive correlation with the presence of non-European foreign residents. These associations remain robust even when the focus shifts to census tracts within the same municipality, suggesting that environmental and social inequalities persist not only across regions but also within local urban contexts. |
| Keywords: | Environmental inequality, Environmental justice, Air pollution, Socioeconomic status, Climate Justice, Discomfort Index |
| JEL: | Q53 Q56 I14 C21 |
| Date: | 2025–04 |
| URL: | https://d.repec.org/n?u=RePEc:fem:femwpa:2025.12 |
| By: | Zachariadis, Theodoros; Taliotis, Constantinos; Moleskis, Melina; Solomou, Pantelis |
| Abstract: | This paper presents the findings of our model-based study on the transition of Cyprus to a net-zero economy. A climate-neutral Cyprus will be characterised by almost complete replacement of fossil fuels by electricity and renewable sources, full utilisation of waste and use of renewable hydrogen in transport and heavy industry. This will require serious public and private investments, which however can be beneficial for the economy and society. Still, important challenges lie ahead that call for swift policy action. Apart from long-term planning that must start today, effective implementation of green policies is key. In this context, the paper also provides a background on behavioural barriers that should be overcome, as the lack in understanding human behaviour is at the heart of the sustainability challenge. Drawing from our recent work for Cypriot authorities, we highlight directions in which policy-making in Cyprus can be enhanced, with special attention to energy poverty. |
| Keywords: | behavioural insights; carbon neutrality; climate policy; energy poverty; net-zero economy |
| JEL: | N0 R14 J01 |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129620 |
| By: | Patrinos, Harry Anthony |
| Abstract: | We estimate the causal effect of schooling on log earnings using instrumental variables (IV), addressing the endogeneity of schooling by using father's education as an instrument. The IV estimate implies a return of approximately 7.7 percent per additional year of schooling. First-stage and endogeneity tests confirm instrument strength and the need for IV. |
| Keywords: | Returns to education, Instrumental Variables, Causal impact |
| JEL: | I2 I26 J24 J31 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:glodps:1674 |
| By: | Alexandre Coulondre (LAB'URBA - LAB'URBA - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12 - Université Gustave Eiffel) |
| Abstract: | Basé sur l'exploitation des données foncières DV3F, ce panorama statistique décrit la place des organismes de logement social (OLS) dans les marchés fonciers et immobiliers franciliens au cours de la décennie 2010. L'analyse permet de faire ressortir plusieurs tendances de fond. La première tendance renvoie au report progressif des marchés fonciers vers les marchés immobiliers, les OLS acquérant davantage des logements à d'autres acteurs plutôt que des parcelles pour les produire. Cette tendance de fond s'accompagne d'une modification dans la nature des fonciers acquis pour produire du logement social. On assiste d'une part au repositionnement des acquisitions foncières en grande couronne (au détriment de la petite couronne et de Paris). On assiste également sur la décennie 2010 à un tarissement de la filière des fonciers publics au profit de fonciers cédés par des aménageurs privés, promoteurs et personnes physiques. Les OLS se confrontent ainsi plus directement à des formes de concurrence foncière et à des logiques marchandes de valorisation des parcelles. |
| Keywords: | Bailleurs sociaux, Marché immobilier, Production résidentielle, Ile de france, Marché foncier, Logement social |
| Date: | 2025–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05271941 |
| By: | Sieger, Lisa; Weber, Christoph; Stein, Tobias |
| JEL: | C31 Q28 Q55 R12 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325393 |
| By: | Friese, Max; Fenge, Robert |
| JEL: | E24 F22 H77 J38 J65 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325456 |
| By: | Schouwer, Thimo De; Gsottbauer, Elisabeth; Kesternich, Iris; Schumacher, Heiner |
| Abstract: | Work meaning can be an important driver of labor supply. Since, by definition, work meaning is associated with benefits for others, it also has an important fairness dimension. In a theoretical model, we show that workers’ willingness to pay for work meaning can be positive or negative, depending on the relative strength of fairness concerns and meaning preferences. To examine the importance of these behavioral motives for labor supply, we conduct a survey experiment with representative samples from The Netherlands and Germany in which we vary within-subject the benefits that a job creates for others. We find that only a minority of workers are actually willing to sacrifice wage for work meaning. The average willingness to pay for work meaning is positive, but substantially lower than the willingness to pay for job flexibility. There is a strong negative relationship between fairness concerns and willingness to pay for work meaning. Thus, individuals who prioritize fairness are less likely to accept lower wages for meaningful work. |
| Keywords: | work meaning; labor supply; fairness preferences |
| JEL: | C90 M52 |
| Date: | 2025–12–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:129675 |
| By: | Frédéric Marty (Université Côte d'Azur, GREDEG, CNRS, France) |
| Abstract: | La réflexion sur l'ouverture de l'économie calédonienne et sur la révision des protections de marché peut s'alimenter de nombreux retours d'expériences quant à la justification d'interventions publiques en présence de défaillances ou de distorsions de marché et d'une analyse de la situation actuelle des conditions du commerce international. Une première source de réflexion est liée à l'encadrement des aides d'Etat. Elles peuvent, en effet, se concevoir comme des mesures de protection de marché dont il s'agit d'apprécier la nécessité, la proportionnalité et l'effet incitatif. L'exemple de l'encadrement en vigueur dans l'Union européenne et le nouveau cadre mis en place au Royaume-Uni peuvent constituer des parangons pertinents. Une seconde source de réflexion procède des mesures de protections des marchés prises par de nombreux états, ces dernières années, à l'instar des règlements européens de 2019 sur le filtrage des investissements étrangers et de 2023 sur les subventions étrangères. L'intérêt spécifique du second dispositif pour notre propos tient à l'homogénéité, avec celles des règles de concurrence, des procédures sur lesquelles il repose pour examiner si des firmes candidates à l'attribution de marchés publics ou de contrats de concession ou encore engagées dans des opérations de fusion-acquisition ne disposent pas de soutiens publics qui les placeraient dans des conditions que ne pourraient répliquer leurs concurrentes dans le cadre d'une concurrence par les mérites. L'intérêt d'analyser ces dispositifs est à la fois interne et externe. Ils permettent tout d'abord d'infuser une culture de concurrence conduisant à jauger les mesures d'aides ou de protection de marché à l'aune de leur effet net. Ils permettent ensuite de garantir à nos partenaires commerciaux que le traitement de leurs entreprises n'est en rien discrétionnaire mais s'appuie sur des règles prenant en considération des objectifs de concurrence non faussée ou sur des procédures transparentes de défense des intérêts stratégiques. |
| Keywords: | Concurrence, commerce international, concurrence à égalité des armes, aides publiques, contrôle des concentrations, protectionnisme |
| JEL: | F13 F15 K21 L52 |
| Date: | 2025–09 |
| URL: | https://d.repec.org/n?u=RePEc:gre:wpaper:2025-37 |
| By: | Fugger, Nicolas; Gillen, Philippe; Gretschko, Vitali; Kokott, Gian-Marco; Riehm, Tobias |
| Abstract: | We investigate how buyer-supplier communication affects procurement prices, comparing auctions without direct communication to negotiations allowing it. In controlled experiments involving students and procurement professionals, we find communication increases prices, disadvantaging buyers. Negotiation analyses show lower initial offers, negotiation-focused dialogue, and emphasizing competition help reduce prices. Contrary to conventional wisdom, auctions without communication often yield better procurement outcomes, especially in competitive markets. Our results suggest managers should reconsider assumptions about experienced negotiators achieving superior deals and instead favor procurement auctions with limited communication to secure lower prices. |
| Keywords: | Auctions, Negotiations, Procurement, Experiment |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:327107 |
| By: | Normann, Hans-Theo; Martin, Simon; Püplichhuisen, Paul; Werner, Tobias |
| JEL: | C73 D43 L13 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325405 |
| By: | Albertazzi, Ugo; Ponte Marques, Aurea; Abbondanza, Aurora; Travaglini, Giulia Leila |
| Abstract: | This paper presents the first causal evidence on how banks adjust their voluntary capital buffers (the capital headroom above the required level) in response to changes in capital requirements. Using granular euro area data and exploiting the threshold-based assignment of Other Systemically Important Institution (O-SII) buffers within a regression discontinuity design, we study the liability side of banks’ balance sheets, complementing the asset-focused literature on lending and risk-taking. This allows us to assess whether capital regulation is effective in enhancing bank resilience, arguably its main objective. We find that banks offset about half of higher capital requirements by cutting their voluntary buffers rather than raising new equity. The offsetting effect is more pronounced among banks with weaker balance sheets, particularly those with higher levels of non-performing loans. These results indicate that regulation aimed at strengthening resilience may be only partially effective, as banks use existing voluntary buffers when subject to higher requirements. JEL Classification: E44, E51, E58, G21, G28 |
| Keywords: | capital buffers, higher requirements, macroprudential policy, voluntary buffer |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253128 |
| By: | Sonia Bhalotra (Institute for Fiscal Studies); Manuel Fernández (Universidad de los Andes); Fan Wang (University of Houston) |
| Date: | 2025–09–26 |
| URL: | https://d.repec.org/n?u=RePEc:ifs:ifsewp:25/39 |
| By: | Stathis Devves; Angelos Alamanos; Giannis Arampatzidis; Phoebe Koundouri |
| Abstract: | The energy and water sectors face increasing challenges amid sustainability and net-zero transitions, which are integral to meeting the UN Sustainable Development Goals (SDGs). The need for integrated models that connect energy, emissions, and water use is critical for developing holistic and sustainable solutions. This chapter focuses on a water-energy-emissions modelling application for the residential sector, a key development area impacting SDGs related to energy, sustainable urbanization, and environmental management. We apply a combined energy-emissions and water accounting model to assess energy use, emissions output, and water consumption of Greece's residential sector, providing comprehensive, data-driven insights. Such integrated assessments are essential for informed policy evaluation and decision-making. We also analyze Greece's national decarbonization plan to 2050, demonstrating how these models can support policy evaluation and discuss the efficiency of the planned pathways. This approach underscores the importance of cross-sectoral analysis for successful long-term sustainable initiatives. |
| Keywords: | Energy emissions modelling, WaterReq GCH Decarbonization, Sustainable Development Goals, Urban development, Greece |
| Date: | 2025–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:aue:wpaper:2554 |
| By: | Antoine-Cyrus Becharat (LadHyX - Laboratoire d'hydrodynamique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique); Michael Benzaquen (LadHyX - Laboratoire d'hydrodynamique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique); Jean-Philippe Bouchaud (Académie des sciences [Paris, France], CFM - Capital Fund Management, X - École polytechnique - IP Paris - Institut Polytechnique de Paris) |
| Abstract: | We analyze the French housing market prices in the period 1970-2022, with high-resolution data from 2018 to 2022. The spatial correlation of the observed price field exhibits logarithmic decay characteristic of the twodimensional random diffusion equationlocal interactions may create long-range correlations. We introduce a stylized model, used in the past to model spatial regularities in voting patterns, that accounts for both spatial and temporal correlations with reasonable values of parameters, some fitted on impulse response data. Our analysis reveals that price shocks are persistent in time and their amplitude is strongly heterogeneous in space. Our study quantifies the diffusive nature of housing prices that was anticipated long ago [1, 2], albeit on much restricted, local data sets. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05273330 |
| By: | Gawel, Erik; Möckel, Stefan |
| Abstract: | Seit Langem werden in der Umweltökonomik anreizorientierte Instrumente zur Lösung umweltpolitischer Herausforderungen propagiert und als gesamtgesellschaftlich vorteilhaft herausgestellt. Innerhalb der Klasse der sogenannten "ökonomischen Instrumente" spielen einerseits Umweltabgaben, andererseits Zertifikatsysteme (handelbare Umweltnutzungsrechte) eine herausragende Rolle. Diese stehen prototypisch für die Ansätze der staatlichen Preissteuerung (Abgaben) beziehungsweise der Mengensteuerung (Zertifikate) und haben dabei markante Unterschiede in ihrer Steuerungscharakteristik. Ihnen gemeinsam ist jedoch, dass sie den Entscheiderinnen und Entscheidern über den Einsatz von Umweltgütern Freiheitsgrade der individuellen Anpassung belassen und daher - anders als das Ordnungsrecht - effiziente, das heißt bei gleicher Zielerfüllung kostengünstige Reduzierungen der Umweltbelastung gestatten. Zugleich werden dauerhafte ökonomische Anreize zu fortlaufenden Mindernutzungen (das heißt Zielverbesserungen) platziert. Das bedeutet, dass beide Instrumente dauerhafte Anreize zur Reduktion umweltbelastender Faktoren setzen und damit auch langfristig stärkere Umweltschutzeffekte ermöglichen. Typisch für diese Instrumente ist aber auch, dass sie staatliche Einnahmen generieren (Abgabeaufkommen, Einnahmen aus Zertifikatverkauf), die in die instrumentellen Gestaltungsüberlegungen einbezogen werden können. Auch für die konkrete Frage der Pestizidmengen- und -risikoreduktion (in Deutschland) werden seit Langem ökonomische Anreizinstrumente diskutiert und zur Anwendung vorgeschlagen. (...) Im Fokus der wissenschaftlichen und politischen Auseinandersetzung über marktorientierte Lösungen für das Problem des Pestizideinsatzes und -risikos stehen vor allem die Konstruktion und Einführung von Lenkungsabgaben, zumal diese im europäischen Ausland für Pestizide zum Teil bereits seit Langem Realität sind (und in anderen Bereichen wie der Wasserwirtschaft ebenfalls langjährig etabliert sind). Aktuell werden aber auch die Vor- und Nachteile von Zertifikatmodellen verstärkt diskutiert: Unter anderen hat der Präsident der Deutschen Landwirtschafts-Gesellschaft (DLG), Hubertus Paetow, im Sommer 2022 hierzu einen Vorstoß unternommen und angekündigt, ein entsprechendes Konzept erarbeiten zu lassen. Weitere Initiativen zur Pestizidreduktion stehen auf der Tagesordnung. So hat das Bundesministerium für Landwirtschaft und Ernährung (BMEL) unlängst eine nationale Strategie zur Pestizidreduktion angekündigt, die 2023 vorgelegt werden sollte. In der im März 2024 vom BMEL vorgelegten Diskussionsgrundlage wird explizit die Analyse unterschiedlicher ökonomischer Steuerungsinstrumente angekündigt. Am 14. März 2024 wurde zudem ein Beteiligungsprozess für ein "Zukunftsprogramm Pflanzenschutz" gestartet: Länder, Verbände und das Dialognetzwerk Zukunftsfähige Landwirtschaft sind aufgerufen, sich aktiv in die Erarbeitung des "Zukunftsprogramms Pflanzenschutz" einzubringen. Auch die Nationale Strategie zur biologischen Vielfalt (NBS) wird vor dem Hintergrund der Beschlüsse der 15. Weltnaturschutzkonferenz in Montreal (Convention on Biological Diversity - Conference of the Parties, CBD COP15) und der neuen EU-Biodiversitätsstrategie aktuell novelliert. Für all diese Initiativen stellt sich die Frage nach geeigneten Steuerungshebeln, konkret: nach Rolle und Design ökonomischer Anreizinstrumente zur Reduktion des Pestizideinsatzes und -risikos in der deutschen (und europäischen) Landwirtschaft. Hier setzt die vorliegende Studie an. Ihr Gegenstand ist die vergleichende Analyse und Bewertung alternativer umweltpolitischer Steuerungsinstrumente für eine Reduktion des Pestizideinsatzes und -risikos in der deutschen (und EU-) Landwirtschaft. Verglichen werden dabei konkret Zertifikats- und Steuer- beziehungsweise Abgabelösungen unter jeweiliger Mitberücksichtigung der ordnungsrechtlichen Rahmensetzungen. Übergeordnetes Ziel der Analyse ist es, in einem einheitlichen Bewertungsrahmen das vorzugswürdige Steuerungsinstrument beziehungsweise einen leistungsfähigen, komplementären Instrumentenmix für eine Reduktion des Pestizideinsatzes und des -risikos zu identifizieren. Die Studie fokussiert in erster Linie auf die Einführung eines marktorientierten Anreizinstruments in Deutschland. Es wird darüber hinaus aber auch die Übertragbarkeit des Instrumentariums auf die Ebene der Europäischen Union analysiert und bewertet. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ufzrep:327127 |
| By: | Yoann Queyroi (INUC - Institut national universitaire Champollion - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, LGTO - Laboratoire de Gestion et des Transitions Organisationnelles - UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Fatem-Zahra El Fassi (INUC - Institut national universitaire Champollion - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, LGTO - Laboratoire de Gestion et des Transitions Organisationnelles - UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Christophe Godowski (LGTO - Laboratoire de Gestion et des Transitions Organisationnelles - UT3 - Université Toulouse III - Paul Sabatier - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Sébastien Dony (LEGO - Laboratoire d'Economie et de Gestion de l'Ouest - UBS - Université de Bretagne Sud - UBO - Université de Brest - IMT - Institut Mines-Télécom [Paris] - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest - UBL - Université Bretagne Loire - IMT Atlantique - IMT Atlantique - IMT - Institut Mines-Télécom [Paris]) |
| Keywords: | Patrimoine immobilier public, Schéma directeur immobilier, Collectivités Locales |
| Date: | 2025–08 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05281118 |
| By: | Riepl, Franziska |
| JEL: | C23 J16 J24 M53 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325436 |
| By: | Hüppauff, Jakob; Job, Hubert; Meyer, Constantin; Lintzmeyer, Florian; Obkircher, Stefan; Proidl, Catarina; Pütz, Marco; Schoßleitner, Richard; Salchner, Günter; Ströbel, Kerstin; Weizenegger, Sabine |
| Abstract: | Der Alpenraum steht vor besonderen Herausforderungen, die internationalen Ziele des Globalen Biodiversitätsrahmens sowie der EU-Verordnung über die Wiederherstellung der Natur ("Nature Restoration Law") umzusetzen. Neben etablierten Bestandteilen räumlicher Planungsdokumente, wie etwa zum Landschaftsschutz oder der Naherholungsvorsorge, drängen ökologische Belange stärker in den Vordergrund. Das Positionspapier aus der länderübergreifenden Arbeitsgruppe des ARL-Forums Bayern versteht das multifunktionale Konzept der "Grünen Infrastruktur" als gewinnbringenden Zugang, um im Alpenraum eine stärkere Koordinationsrolle der räumlichen Planung für freiraumbezogene Planungen und Maßnahmen zu fordern. Denn bislang fallen sie in die Zuständigkeiten verschiedenster Fachressorts und werden oftmals thematisch isoliert betrachtet und behandelt. Gleichzeitig soll damit auch die Akzeptanz staatlicher Nachhaltigkeitsziele sowie der effektive Einsatz öffentlicher Mittel gefördert werden. Das Positionspapier skizziert die Vision eines leistungsfähigen Netzwerks Grüner Infrastruktur im Alpenraum, welches vor allem die ökologische Vernetzung stärkt und sich auf eine rahmengebende Sicherung durch die Raumplanung stützt. Um dies zu erreichen, werden Handlungsempfehlungen bezüglich der Stärkung des rechtlichen Rahmens, der Eignung von Planungsinstrumenten, der Förderung und Finanzierung von Maßnahmen zur Umsetzung der Grünen Infrastruktur, der Stärkung der ressortübergreifenden Zusammenarbeit sowie der Mobilisierung gesellschaftlicher Akteurinnen und Akteure formuliert. |
| Abstract: | The Alpine region faces particular challenges in implementing the international targets of the Global Biodiversity Framework and the EU Nature Restoration Law. In addition to established components of spatial planning documents, such as landscape protection or local recreation provision, ecological concerns coming more in the fore. The position paper from the cross-border working group of the ARL Forum Bavaria considers the multifunctional concept of 'green infrastructure' to be a profitable approach for promoting a stronger coordinating role for spatial planning in the northern Alpine region with regard to open space-related planning and measures. So far, they have fallen under the responsibility of a wide range of specialist departments and are often considered and treated thematically in isolation. At the same time, this is also intended to promote acceptance of government sustainability goals and the effective use of public funds. The position paper outlines a vision of an efficient green infrastructure network in the Alpine region, which above all strengthens ecological connectivity and is based on a framework provided by spatial planning. In order to achieve this, recommendations for action are formulated regarding strengthening the legal framework, the suitability of planning instruments, the promotion and financing of measures to implement green infrastructure, the strengthening of interdepartmental cooperation and the mobilisation of civil social actors. |
| Keywords: | Grüne Infrastruktur, Raumordnung, Alpen, Freiraum, ressortübergreifende Zusammenarbeit, ökologische Konnektivität, Green Infrastructure, Spatial planning, Alpine region, Open space, Intersectoral cooperation, Ecological connectivity |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:arlpos:327122 |
| By: | Jan Behringer (Macroeconomic Policy Institute (IMK)); Lukas Endres (Macroeconomic Policy Institute (IMK)); Maike Korsinnek (Macroeconomic Policy Institute (IMK)) |
| Abstract: | We examine how perceptions about the costs of carbon pricing affect policy acceptance. Using a representative sample of the German population, we conduct experiments that provide randomly selected respondents with personalized information about their costs at the current carbon price or a higher future price. Participants tend to overestimate their current costs and increase their carbon price acceptance when receiving cost information. In contrast, respondents underestimate future costs and reduce their support once they learn about actual costs. This underscores the importance of personalized information in fostering current support for carbon pricing, while cautioning against potential backlash as prices rise. |
| Keywords: | Carbon pricing, policy acceptance, perceptions, experiment |
| JEL: | D12 D83 H23 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:imk:wpaper:226-2025 |
| By: | Feng, Wenxiu; Alcántara Mata, Antonio; Ruiz Mora, Carlos |
| Abstract: | Wind farm placement arranges the size and the location of multiple wind farms within a given region. The power output is highly related to the wind speed on spatial and temporal levels, which can be modeled by advanced data-driven approaches. To this end, we use a probabilistic neural network as a surrogate that accounts for the spatiotemporal correlations of wind speed. This neural network uses ReLU activation functions so that it can be reformulated as mixed-integer linear set of constraints (constraint learning). We embed these constraints into the placement decision problem, formulated as a two-stage stochastic optimization problem. Specifically, conditional quantiles of the total electricity production are regarded as recursive decisions in the second stage. We use real high-resolution regional data from a northern region in Spain. We validate that the constraint learning approach outperforms the classical bilinear interpolation method. Numerical experiments are implemented on risk-averse investors. The results indicate that risk-averse investors concentrate on dominant sites with strong wind, while exhibiting spatial diversification and sensitive capacity spread in non-dominant sites. Furthermore, we show that if we introduce transmission line costs in the problem, risk-averse investors favor locations closer to the substations. On the contrary, risk-neutral investors are willing to move to further locations to achieve higher expected profits. Our results conclude that the proposed novel approach is able to tackle a portfolio of regional wind farm placements and further provide guidance for risk-averse investors. |
| Keywords: | Constraint learning; Optimal investment; Quantile neural network; Wind generation; Stochastic optimization |
| Date: | 2025–09–30 |
| URL: | https://d.repec.org/n?u=RePEc:cte:wsrepe:48103 |
| By: | Daniel A. Dias; Sophia Scott |
| Abstract: | This paper shows that U.S. commercial banks' funding betas rise predictably with the length, magnitude, and direction of each monetary policy cycle: longer cycles and those with larger changes in the policy rate yield stronger pass-through in both tightening and loosening cycles, with modest asymmetry favoring slightly greater transmission during loosening cycles. Nondeposit liabilities consistently adjust more than deposits. Crucially, at the aggregate banking-system level and across banks grouped by size, this cycle-dependent relationship has remained remarkably stable over three decades, highlighting the durability and predictability of interest-rate transmission to banks' funding costs. |
| Keywords: | Bank funding betas; Deposit vs. nondeposit funding costs; Monetary policy cycles; Interest-rate transmission |
| JEL: | C22 E44 G21 |
| Date: | 2025–09–19 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgfe:2025-83 |
| By: | Neumeier, Florian; Gstrein, David; Peichl, Andreas; Zamorski, Pascal |
| JEL: | H22 H25 H71 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325380 |
| By: | Bruckmeier, Kerstin; Dolls, Mathias; Necker, Sarah; Peichl, Andreas; Windsteiger, Lisa |
| JEL: | J22 J46 J48 H26 H31 H53 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325413 |
| By: | Normann, Hans-Theo; Rulié, Nina; Stypa, Olaf; Werner, Tobias |
| JEL: | C90 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325417 |
| By: | Mensinger, Tim; Pugnaghi Zimpelmann, Christian |
| JEL: | Z1 J13 J16 J22 D15 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:vfsc25:325373 |