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on Microeconomic European Issues |
| By: | Julia Baarck (ifo Institute); Moritz Bode (University of Copenhagen and CEBI); Andreas Peichl (ifo Institute) |
| Abstract: | This paper is the first to show that intergenerational income mobility in Germany has decreased over time. We estimate intergenerational persistence for the birth cohorts 1968-1987 and find that it rises sharply for cohorts born in the late 1970s and early 1980s, after which it stabilizes at a higher level. As a step towards understanding the mechanisms behind this increase, we show that parental income has become more important for educational outcomes of children. Moreover, we show that the increase in intergenerational persistence coincided with a surge in cross-sectional income inequality, providing novel evidence for an "Intertemporal Great Gatsby Curve''. |
| Keywords: | intergenerational mobility; social mobility; income; education; inequality; |
| JEL: | J62 I24 D63 |
| Date: | 2025–10–31 |
| URL: | https://d.repec.org/n?u=RePEc:rco:dpaper:550 |
| By: | Landersø, Rasmus (Rockwool Foundation Research Unit); Karlson, Kristian B. (University of Copenhagen) |
| Abstract: | This paper studies intergenerational educational mobility among immigrants and descendants in Denmark for cohorts born between 1965 and 1990. At first glance, the data suggests that immigrants experience higher mobility than native Danes, but this pattern is driven by low coverage and poor data quality of parental education information in administrative registers. Among immigrants with the most reliable data, mobility patterns closely resemble those of natives. Auxiliary analyses using representative survey data corroborate this finding. Moreover, including immigrants in population-wide mobility estimates—given their artificially high relative mobility—attenuates trends in estimated mobility, especially for cohorts bornin the 1980s. |
| Keywords: | native-immigrant gaps, educational mobility, data quality |
| JEL: | E43 E52 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18284 |
| By: | Rodríguez Pita, María del Pilar |
| Abstract: | This study develops two composite indices to evaluate digitalization and sustainability across European NUTS-2 regions using Eurostat and OCDE data. Employing PCA analysis we construct a Regional Digitalization Index and a Regional Sustainable Development Index, applying k-means clustering to identify typologies. Results reveal a strong positive correlation between digital infrastructure and SDG performance, with clusters of high-performing "leaders" localized in the northerns and western regions and low-performers in the southern and eastern, highlighting the existing disparities in the single market. Based on these insights, we propose targeted policy interventions to promote equitable twin transitions. |
| Keywords: | Digitalization, Sustainable Development, NUTS 2, Europe |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331300 |
| By: | Alexander Bertermann (ifo Institute, University of Munich); Wolfgang Dauth (Institute for Employment Research (IAB), University of Bamberg); Jens Suedekum (DICE, Heinrich-Heine-Universität Düsseldorf); Ludger Woessmann (University of Munich, ifo Institute) |
| Abstract: | How do firms and workers adjust to trade and technology shocks? We analyze two mechanisms that have received little attention: training that upgrades skills and early retirement that shifts adjustment costs to public pension systems. We combine novel data on training participation and early retirement in German local labor markets with established measures of exposure to trade competition and robot adoption. Results indicate that negative trade shocks reduce training—particularly in manufacturing—while robot exposure increases training—particularly in indirectly affected services. Both shocks raise early retirement among manufacturing workers. Structural change thus induces both productivity-enhancing and productivity-reducing responses, challenging simple narratives of labor market adaptation and highlighting the scope for policy to promote adjustment mechanisms conducive to aggregate productivity. |
| Keywords: | training; retirement; trade; technological change; automation; robots; firms; workers; labor market; |
| JEL: | J24 J26 O33 F16 R11 |
| Date: | 2025–11–11 |
| URL: | https://d.repec.org/n?u=RePEc:rco:dpaper:551 |
| By: | Loïa Lamarque; Marion Leturcq |
| Abstract: | Do intra-household wealth gaps shape intergenerational giving? As inter vivos transfers become more common and wealth is increasingly individualized within households, understanding how intra-couple wealth gaps shape giving is crucial. Using unique panel data from the French Household Wealth Survey (2015–2021), which allows reconstructing individual-level wealth within couples, we examine whether gendered inequality in wealth ownership affect transfers to children. Our results show that egalitarian couples (where women hold 40–60%) are more likely to give, especially among the top 10%. In contrast, transfers are less frequent when one partner holds most of the wealth, regardless of gender. These patterns suggest that intra-household inequality (and not the gender of the wealth-holder) reduces the likelihood of giving, though unequal wealth often reflects diverging family histories. Our findings underscore the importance of accounting for within-household dynamics in understanding intergenerational transmission. |
| Keywords: | inter vivos transfers, gender wealth gap, intra-household inequality, household, inequalities, wealth gaps, intergenerational transfers, France, TRANSFERTS INTERGENERATIONNELS / INTERGENERATIONAL TRANSFERS, MENAGE / HOUSEHOLD, COUPLE / COUPLE, GENRE / GENDER, FRANCE / FRANCE |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:idg:wpaper:agh5upobayg7tox7sbqj |
| By: | Brüll, Eduard; Mäurer, Samuel; Rostam-Afschar, Davud |
| Abstract: | We provide experimental evidence on how employers adjust expectations to automation risk in high-skill, white-collar work. Using a randomized information intervention among tax advisors in Germany, we show that firms systematically underestimate automatability. Information provision raises risk perceptions, especially for routine-intensive roles. Yet, it leaves short-run hiring plans unchanged. Instead, updated beliefs increase productivity and financial expectations with minor wage adjustments, implying within-firm inequality like limited rent-sharing. Employers also anticipate new tasks in legal tech, compliance, and AI interaction, and report higher training and adoption intentions. |
| Keywords: | Artificial Intelligence, Automation, Technological Change, Innovation, Technology Adoption, Firm Expectations, Belief Updating, Expertise, Labor Demand, White Collar Jobs, Training |
| JEL: | J23 J24 D22 D84 O33 C93 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:333393 |
| By: | Heriaud Bastien; Joossens Elisabeth (European Commission - JRC); Le Blanc Julia (European Commission - JRC) |
| Abstract: | "This report presents the Regional Resilience Dashboard (RRDB) as an analytical tool for assessing and monitoring resilience at the regional level within the European Union. Building on the Commission’s Resilience Dashboards (RDB), the RRDB provides a comprehensive overview of regional vulnerabilities and capacities across various dimensions, including economic, social, and environmental aspects, covering 242 NUTS2 regions.The primary objective of the dashboard is to support regions in conducting structured self-assessments and informing policy formulation, thereby enabling the identification of priority needs and strategic interventions to strengthen resilience. The report highlights the critical role of region-specific characteristics, such as geographic location in shaping regional resilience and provides evidence on how regional resilience has evolved over time." |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc141991 |
| By: | Bachmann, Ronald; Heinze, Inga; Klauser, Roman |
| Abstract: | Worker mobility plays a central role in facilitating structural change and addressing labour shortages in labour markets. This paper examines the incentives for workers to change jobs or occupations by analyzing subsequent gains in earnings and job satisfaction. We distinguish between different types of mobility based on changes in occupational content and complexity. The results reveal that job mobility is positively associated with both wage and job satisfaction gains. While this relationship holds across most forms of mobility, the largest improvements are observed for horizontal mobility, i.e. a change of occupational content at the same level of occupational complexity, and diagonal mobility, i.e. a change of both occupational content and complexity. Our findings indicate substantial heterogeneities across worker groups: while women who change jobs experience wage growth comparable to men, women who remain in their job exhibit lower wage growth. For workers with a migration background, mobility primarily yields monetary benefits, whereas increases in job satisfaction are smaller than for non-migrant workers. |
| Abstract: | Arbeitnehmermobilität spielt eine zentrale Rolle bei der Umsetzung des strukturellen Wandels und der Bewältigung von Fachkräfteengpässen auf den Arbeitsmärkten. Dieses Papier untersucht die Anreize für Arbeitnehmer, den Arbeitsplatz oder den Beruf zu wechseln, indem es die daraus realisierbaren Einkommens- und Arbeitszufriedenheitsgewinne analysiert. Wir unterscheiden dabei zwischen verschiedenen Arten der Mobilität, basierend auf Veränderungen im Tätigkeitsinhalt und in der Komplexität der ausgeübten Arbeit. Unsere Ergebnisse zeigen, dass berufliche Mobilität sowohl mit Einkommens- als auch mit Arbeitszufriedenheitszuwächsen positiv zusammenhängt. Während dieser Zusammenhang für die meisten Formen der Mobilität gilt, zeigen sich die größten Verbesserungen bei horizontaler Mobilität - also einem Wechsel des Tätigkeitsinhalts bei gleichbleibender Komplexität - sowie bei diagonaler Mobilität, also einem Wechsel sowohl des Tätigkeitsinhalts als auch der Komplexität. Weiterhin weisen unsere Ergebnisse auf erhebliche Unterschiede zwischen Arbeitnehmergruppen hin: Während Frauen, die den Arbeitsplatz wechseln, ein mit Männern vergleichbares Lohnwachstum erfahren, verzeichnen Frauen, die in ihrer Stelle verbleiben, ein geringeres Lohnwachstum. Bei Arbeitnehmern mit Migrationshintergrund führt Mobilität vor allem zu monetären Vorteilen, während die Zuwächse in der Arbeitszufriedenheit geringer ausfallen als bei nicht-migrantischen Arbeitnehmern. |
| Keywords: | Job mobility, occupational mobility, wage, job satisfaction, structural change |
| JEL: | J62 J31 J28 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:rwirep:331882 |
| By: | Márta Bisztray (Hungarian Academy of Science, Centre for Economic and Regional Studies); Gábor Békés (Central European University); Alexandros Charos (WIFO); Klaus Friesenbichler; Miklós Koren (Central European University); Agnes Kügler; Balázs Lengyel (HUN-REN CERS – Institute of Economics); Amanda De Pirro (HUN-REN CERS – Institute of Economics); Birgit Meyer (WIFO) |
| Abstract: | Recent events have posed considerable challenges to supply chain, as demonstrated by trade data. Yet, firm-level information on the recent challenges remains scarce. The Supply Chain Disruption Survey addresses this gap by generating insights into firms' experiences and expectations regarding their supplier relationships, with a special focus on the role of intangibles and changes over time. Conducted as part of the RETHINK-GSC Horizon research project, the survey was carried out in Austria, Denmark, Germany, and Hungary between mid-2023 and spring 2024. The survey focused on medium-sized and large firms operating in various manufacturing industries. This paper has two main objectives: first, it provides information about the survey's background, design, questionnaire, and implementation; and second, it presents the key patterns visible in the survey. The results indicate that sourcing remains anchored in Europe but is diversified. Experiencing disruption was nearly universal between 2020 and 2023, mostly due to COVID-19, but also due to the war in Ukraine and trade policy changes. Despite the perception of the disruptions being of temporary nature, the anticipation of risk increased. Firms adopted different risk mitigation strategies, including diversifying their supplier portfolio and information sharing with suppliers. |
| Date: | 2025–11–17 |
| URL: | https://d.repec.org/n?u=RePEc:wfo:wpaper:y:2025:i:716 |
| By: | Bohacek, Radim (CERGE-EI); Myck, Michal (Centre for Economic Analysis, CenEA) |
| Abstract: | We examine the consequences of political persecution under the communist regime on labor market outcomes using life history data from the Czech sample of the Survey of Health, Ageing and Retirement in Europe. The risk of persecution is instrumented using unique administrative data on the intensity of political oppression. We find strong evidence of career degradation as a consequence of persecution-driven job losses. Our estimates suggest that earnings in jobs following such a loss carried a penalty of over 60 percent that accumulated over time to substantially lower retirement benefits. We document the gravity of economic consequences for ordinary citizens persecuted by the authoritarian regime as well as effective compensating schemes implemented by democratic governments after 1989. |
| Keywords: | communist regimes, political persecution, discrimination, wage differentials, life histories |
| JEL: | J70 J31 N34 C21 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18282 |
| By: | Hammarstedt, Mats (Linnaeus University, and) |
| Abstract: | We present results from research on different dimensions of immigrant self-employment in Sweden. There are variations in self-employment rates between different groups of immigrants and the native population. Self-employment rates have increased markedly among certain groups of immigrants since the 1990s. Immigrants from certain countries in the Middle East are over-represented in self-employment, while self-employment rates among immigrants from countries in Africa are relatively low. Immigrants from countries outside Europe are often self-employed in branches with low entry barriers. Exit rates from self-employment are generally higher, and earnings are lower among self-employed non-European immigrants than among self-employed natives and European immigrants. Research regarding explanations for why immigrants opt for self-employment is presented. Results indicate that immigrants are pushed into self-employment due to low earnings in wage-employment. As regards the effects of ethnic enclaves, networks, and traditions from their home countries, the results are inconclusive. Family traditions and parental role models increase self-employment propensities more for immigrants than for natives. Non-European immigrants report that they encounter other difficulties and obstacles in their business activities than natives and European immigrants. They consider lack of access to financial capital and discrimination from banks, customers, and suppliers as obstacles for successful self-employment. Finally, results show that immigrants who are successful in their business activities may play an important role for labor market integration since they create employment opportunities also for other immigrants. |
| Keywords: | Self-employment; Immigrants; Sweden |
| JEL: | J15 J24 L26 |
| Date: | 2025–11–24 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1544 |
| By: | Fernández-Bonilla, Fernando; Ruíz-Rúa, Aurora; Gijón, Covadonga; Martínez de Ibarreta Zorita, Carlos |
| Abstract: | Touristic mobility is a major contributor to greenhouse gas emissions, particularly due to the dominance of private vehicle. This study explores the determinants of sustainable transport choices among domestic tourists in Spain, focusing on how individual, territorial, and digital factors influence the adoption of public and low-emission transport modes. Using the Resident Tourism Survey (INE, 2016–2024), we estimate logistic and ordered regression models that incorporate sociodemographic variables, trip characteristics, and e-tourism indicators. Results reveal a strong association between digital planning and sustainable modal choice, particularly in urban and coastal destinations. Additionally, cultural and educational travel activities are more likely to be linked to public transport use, while leisure activities show a higher dependence on private modes. Socioeconomic factors like income, education, and age also significantly affect transport behaviour. This research highlights the need for territorialised, integrated policies to promote sustainable mobility in tourism, especially in rural areas. Enhancing digitalisation, improving public transport access, and tailoring strategies to specific regional and profiles are key to enabling a greener transition in tourism mobility. |
| Keywords: | e-Tourism, Rural, e-Mobility, Sustainability, Logit Model |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331268 |
| By: | Yanina Domenella (Universidad Autónoma de Madrid); Samuel Bentolila (CEMFI, Centro de Estudios Monetarios y Financieros) |
| Abstract: | People with intellectual and developmental disabilities (PID) show significantly lower labor force participation and employment rates compared to people without disabilities. Customized Employment (CE) has emerged as a promising approach to improve their labor market integration. This study provides the first causal evidence on CE’s effectiveness relative to the traditional Supported Employment approach through a randomized controlled trial in Spain. Our findings show that CE substantially improves employability by increasing employment probability, hours worked, and the number of labor contracts. It also enhances participation in training programs and internships. Beyond employment, CE significantly fosters social inclusion and well-being, with effects varying based on severity of disability, recognition of dependency, and family involvement. These results underscore CE’s potential as an effective strategy for improving both labor market outcomes and social integration of PIDs. |
| Keywords: | Customized employment, supported employment, disability, labor market inclusion, social integration, field experiment, Spain. |
| JEL: | J14 J21 I31 I38 C93 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:cmf:wpaper:wp2025_2528 |
| By: | Valarezo-Unda, Angel; Capilla, Javier; Pérez-Amaral, Teodosio; Garcia-Hiernaux, Alfredo; López, Rafael |
| Abstract: | Using the 2014 – 2021 waves of Spain's ICT-H household panel, we track Internet trust for 59, 648 internet users across 130, 013 person-year observations. A correlated random-effects ordered-probit model shows that improvements in digital skills and first-hand use of transactional services are the strongest and most consistent predictors of higher trust, while traditional socio-economic markers play a secondary role. Once skill levels are controlled, age differences largely vanish, but women still report lower trust and the pandemic years register a notable dip, pointing to attitudinal and systemic factors that skill policies alone cannot solve. The findings highlight the need for advanced skill training, guided initial transactions and robust consumer safeguards, particularly for women and low-income users, if Spain is to close its remaining trust gap and achieve inclusive digitalization. |
| Keywords: | Internet trust, digital inclusion, socio-economic determinants, panel data, digital skills, Eco-RETINA, Spain, ICT-H survey |
| JEL: | C33 D83 L86 O33 O35 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331314 |
| By: | Claeys, Peter; Gómez-Bengoechea, Gonzalo; Jung, Juan; Van Der Wielen, Wouter; Weiss, Christoph |
| Abstract: | This article analyzes if the Internet of Things (IoT) can contribute to increasing energy productivity across firms that adopt this technology. The empirical analysis is based on a sample of more than 8, 000 firms from various sectors across 26 European countries, surveyed by the European Investment Bank across the years 2022 and 2023. Methodologically, we combine two-way fixed-effects models (TWFE), differences-in-differences and matching methods. Our results indicate significant effects of IoT on energy productivity, although these effects seem to be concentrated among manufacturing/construction sectors and medium/big firms only. Our findings suggest that digital technologies such as IoT can potentially play a key role in energy transitions toward more sustainable economies. |
| Keywords: | Internet of Things, Digitization, Energy productivity, Energy efficiency |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331263 |
| By: | Domenech Palacios, Mar |
| Abstract: | I examine how households adjust the quality of their purchases in response to adverse economic shocks. Using household scanner data from Germany, I document heterogeneous responses across income levels. Higher-income households tend to reduce the quality of the goods they purchase, whereas lower-income households, who typically consume lower-quality goods, show a limited propensity to trade down, likely due to a limited ability to do so. To assess the equilibrium effects of an aggregate shift in demand toward lower-quality varieties, I implement a shift-share research design. This approach leverages two key components: (i) pre-determined spending shares on middle-quality varieties across the product space for a wide range of sociodemographic groups prior to the great financial crisis, and (ii) variation in population growth across these groups during the crisis. I find that a 1% aggregate demand shift toward lower-quality varieties following a recession raises the relative price of low-quality varieties by about 0.45% on average. JEL Classification: E21, E31, E32, E60 |
| Keywords: | business cycle, inflation, prices, quality, trading down |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:ecb:ecbwps:20253156 |
| By: | Busch, Berthold; Kauder, Björn; Sultan, Samina |
| Abstract: | Für jeden EU-Mitgliedstaat lässt sich berechnen, wie hoch die Einzahlungen in den EU-Haushalt und die Rückflüsse aus demselben ausfallen. Aus der Differenz von Rückflüssen und Einzahlungen kann berechnet werden, welcher Mitgliedstaat Nettozahler oder Nettoempfänger ist. Die deutschen Nettozahlungen haben sich im Jahr 2024 gegenüber dem Vorjahr von 17, 4 Milliarden Euro auf 13, 1 Milliarden Euro verringert, auch aufgrund der schwachen konjunkturellen Lage. Damit liegt Deutschland wieder im Bereich des Durchschnitts der Jahre 2014 bis 2020, dem letzten Mehrjährigen Finanzrahmen (MFR). Deutschland ist weiterhin der größte Nettozahler in der EU und liegt vor Frankreich, das im vergangenen Jahr 4, 8 Milliarden Euro mehr abführte als an Rückflüssen zu verzeichnen waren. Auf Platz drei reiht sich Italien mit einem Nettobeitrag von 1, 6 Milliarden Euro ein. Größter Nettoempfänger in absoluten Beträgen ist nun Griechenland mit 3, 5 Milliarden Euro. Dahinter liegen Polen und Rumänien mit 2, 9 und 2, 7 Milliarden Euro. Bei den Nettozahlungen je Einwohner liegt Deutschland mit 157 Euro pro Einwohner an der Spitze, gefolgt von Irland mit 130 Euro. Auch in Relation zum Bruttonationaleinkommen (BNE) ist Deutschland größter Nettozahler (0, 29 Prozent des BNE), gefolgt von Österreich (0, 18 Prozent). Je Einwohner und in Prozent zum BNE können, wie in den vergangenen Jahren, insbesondere die baltischen Staaten von den Finanzbeziehungen zum EU-Haushalt profitieren. Größter Nettoempfänger pro Einwohner war gleichwohl Luxemburg, das von einigen Sondereffekten profitierte. Die Betrachtung wird um die Finanzströme im Rahmen von NextGeneration EU (NGEU) erweitert, weil es sich um einen bedeutsamen Nebenhaushalt handelt. Größte Nettoempfänger hieraus im Jahr 2024 sind Spanien und Portugal. Die größten NGEU-Nettozahler sind Luxemburg, Schweden und Österreich. Zusammengenommen mit dem regulären EU-Haushalt sind die größten Nettozahler der EU Österreich, Schweden und Irland mit jeweils etwa 0, 5 Prozent. Deutschland folgt in dieser Betrachtung aufgrund einer günstigen Position bei NGEU erst auf dem sechsten Platz (0, 35 Prozent des BNE). Mit Abstand größter Nettoempfänger ist Lettland. Vergleicht man die Werte des Jahres 2024 mit denen des Jahres 2020, so zeigt sich eine Verbesserung der Nettoposition Spaniens um 0, 66 Prozentpunkte des BNE. Deutschland liegt mit 0, 10 Prozentpunkten auf Position vier. Deutlich eingebüßt haben Litauen, Ungarn und Kroatien. Bei NGEU verbesserte Deutschland seine Position sogar stärker als alle anderen Mitgliedstaaten. Wiederum büßten Litauen und Ungarn am meisten ein. Die Zerlegung der gesamten Nettoposition in Teilsalden zeigt, welche Mitgliedstaaten von der Agrar- und Kohäsionspolitik finanziell am stärksten profitieren. Der größte Nettoempfänger der Agrarpolitik ist Lettland mit 0, 91 Prozent des BNE, gefolgt von Bulgarien, Griechenland und Litauen. Bei den Ausgaben für den wirtschaftlichen und sozialen Zusammenhalt (Kohäsionsausgaben) ist wiederum Lettland mit 1, 31 Prozent des BNE größter Nettoempfänger. An zweiter und dritter Stelle liegen die Slowakei und Kroatien. |
| Abstract: | For each EU Member state, it is possible to calculate how much it contributes to the EU budget and how much it receives in return. The difference between refunds and payments can be used to calculate which Member States are net contributors and which are net recipients. Germany's net payments fell from €17.4 billion in 2023 to €13.1 billion in 2024, partly due to the weak economic situation. This brings Germany back into line with the average for the years 2014 to 2020, the last multiannual financial framework. Germany remains the largest net contributor in the EU, ahead of France, which last year paid in €4.8 billion more than it received in returns. Italy ranks third with a net contribution of €1.6 billion. Greece is now the largest net recipient in absolute terms with €3.5 billion, followed by Poland and Romania with €2.9 billion and €2.7 billion respectively. In terms of net payments per capita, Germany ranks first with €157 per capita, followed by Ireland with €130. In relation to gross national income (GNI), Germany is also the largest net contributor (0.29 percent of GNI), followed by Austria (0.18 percent). As in previous years, the Baltic states in particular benefit from financial relations with the EU budget in terms of per capita and as a percentage of GNI. Nevertheless, Luxembourg was the largest net recipient per capita, benefiting from a number of special effects. The analysis is expanded to include financial flows within the framework of NextGeneration EU, as this is a significant supplementary budget. The largest net recipients in 2024 are Spain and Portugal. The largest net contributors to NGEU are Luxembourg, Sweden, and Austria. Taken together with the regular EU budget, the largest net contributors to the EU are Austria, Sweden, and Ireland, each with around 0.5 percent. Germany ranks only sixth in this analysis (0.35 percent of GNI) due to its favorable position in NGEU. Latvia is by far the largest net recipient. Comparing the figures for 2024 with those for 2020, Spain's net position has improved by 0.66 percentage points of GNI. Germany ranks fourth with 0.10 percentage points. Lithuania, Hungary, and Croatia have lost significantly. In terms of NGEU, Germany improved its position even more than all other Member states. Once again, Lithuania and Hungary lost the most. Breaking down the total net position into sub-balances shows which Member States benefit most financially from agricultural and cohesion policy. The largest net recipient of agricultural policy is Latvia, with 0.91 percent of GNI, followed by Bulgaria, Greece, and Lithuania. In terms of cohesion spending, Latvia is again the largest net recipient, with 1.31 percent of GNI. Slovakia and Croatia rank second and third. |
| Keywords: | EU-Finanzbeziehungen, Deutschland, EU-Staaten |
| JEL: | H61 H77 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:iwkrep:333410 |
| By: | Jacob Berman; Adam Bloomfield; Sita Slavov |
| Abstract: | We use comprehensive tax data to study how saving behavior responds to the Health Savings Account (HSA) “catch-up” contribution provision, which raises HSA contribution limits for individuals aged 55 and older. Using a regression discontinuity design, we find a sharp increase in contributions among those previously near the limit and smaller increases among unconstrained savers. Induced contributions are not immediately withdrawn and do not appear to crowd out retirement savings. Responses are strongest among payroll contributors and long-term savers. However, married couples do not appear to coordinate their HSA behavior to take advantage of the complex spousal rules governing catch-up contributions. Our findings highlight how tax incentives shape HSA saving and suggest that tax-advantaged account design meaningfully affects household financial behavior. |
| JEL: | G51 H31 I13 J26 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34499 |
| By: | Arrighetti, Alessandro; Landini, Fabio; Lasagni, Andrea; Lomuscio, Marco |
| Abstract: | This paper examines the strategic and organizational trajectories of worker buyouts (WBOs) during their consolidation phase, comparing them with structurally similar investor-owned firms (IOFs). While the early stages of WBO development have been widely studied, little is known about their medium-term evolution. Using a matched comparison design and survey data from firms established between 2010 and 2019, the study explores strategic orientation, investment and innovation behavior, organizational practices, human resource management, sources of competitive advantage and operational constraints of WBOs and IOFs. The findings reveal a dual dynamic of convergence and differentiation. WBOs adopt strategic and operational practices akin to those of IOFs, yet they also preserve distinctive participatory and employment-preserving features embedded in their cooperative governance model. While facing structural financial constraints, they exhibit stronger internal cohesion and greater involvement of workers in decision-making. Overall, the study reveals how WBOs balance convergence with conventional firm practices and the preservation of cooperative distinctiveness, shedding light on their capacity to remain both competitive and socially embedded. |
| Keywords: | Worker buyouts (WBOs), investor-owned firms (IOFs), matched comparison design strategy, capabilities, performance, organizational capability, personnel capability |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esprep:333204 |
| By: | Kremer, Anna |
| Abstract: | Meeting others with different backgrounds brings up new ideas. This paper shows that this not only matters for a background in heterogeneous industries or nationalities, but that regional differences matter too. Regions within a country vary in their traditions and culture. Cultural homogeneity within regions becomes mixed due to internal migration, which, like international migration, increases the diversity of a place. In a novel approach, I look at diversity in German municipalities, measured by different family names, and investigate its effect on the number of generated patents. I use a unique dataset from a 1996 phonebook and casualty lists from WWI. There is a positive association between innovation and diversity when defined by the share of new names, a deconcentration measure, or a Shannon index. Causality is established by using instrumental variables estimations with historical borders. I show that intra-country diversity affects patenting positively and conclude that regional differences matter for economic outcomes. |
| Keywords: | cultural diversity, innovation, family names, patents, local level, Germany |
| JEL: | R11 O30 Z13 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:tudcep:333401 |
| By: | Bertoletti Alice (European Commission - JRC); Cosgrove Judith (European Commission - JRC); Lopez Cobo Montserrat (European Commission - JRC) |
| Abstract: | "This report provides evidence to inform the European Commission’s Apply AI Strategy — announced in the AI Continent Action Plan and launched to enhance AI adoption in strategic sectors—, by analysing the alignment between AI-related education in the EU and labour market demand. Using Studyportals data (2024–2025) and WIH-OJA online job advertisements (2020–2023), it examines master’s and short courses alongside job advertisements for ICT specialist occupations. The education offer’s content is dominated by Machine Learning, especially in the case of short courses, with notable attention to AI ethics, while generative AI remains marginal. Most programmes that feature AI topics are offered in the ICT field, but relevant provision also exists in Engineering; Business, administration and law, and other disciplines, albeit with low penetration. AI-related job demand is highly concentrated in software and applications developers and analysts occupations (62% of AI-related OJAs) and database and network professionals, with strong AI specialisation in systems analysts. The most in-demand job profile in AI-related OJAs is the AI/ML Engineering, appearing in almost one-third of the job advertisements that explicitly mention AI job profiles, followed by Data Analysis, Data Engineering, and AI/ML Development. Together, these four profiles account for 98% of all job descriptions referring to AI roles. While AI-related education offer and ICT specialists jobs demand are broadly aligned, limited AI integration in the academic offer of non-ICT fields and in emerging technologies may lead to future skills gaps in some sectors." |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc143488 |
| By: | Haas, Violeta I.; Elshehawy, Ashrakat; Frey, Arun; Riaz, Sascha; Roemer, Tobias |
| Abstract: | What drives the supply of crime news? While prior research focuses on the news media, we study a crucial upstream gatekeeper of information: the police. We argue that the police act as strategic bureaucrats who increase the disclosure of out-group cues (ethnicity, nationality) when immigration is salient to signal competence and transparency to the public. To test this, we use LLMs to annotate a novel dataset of about one million press releases published by local police stations across Germany between 2014 and 2024. Using a regression discontinuity in time design, we demonstrate an increase in out-group cues in police communications (1) following a nationwide shock to immigration salience (the 2015/16 Cologne New Year’s Eve assaults), and (2) in the days before regional elections in which immigration is a salient campaign issue. Our findings demonstrate how bureaucratic discretion shapes the supply of politically charged information. |
| Keywords: | bureaucratic politics; immigration; large language models, natural language processing, police |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:tse:wpaper:131173 |
| By: | Zhou, Rui; Fulton, Lewis |
| Abstract: | This paper compares global transportation/energy models in terms of scope, structure and the types of scenarios that have been developed, with particular emphasis on projections of low-carbon fuels like hydrogen, biofuels, e-fuels and electricity in transportation decarbonization scenarios. Our review of the models and their scenarios indicates that scenarios with deep CO2 reduction or globally ambitious climate policies tend to show a large increase in the role of electrification, advanced biofuels and in some cases hydrogen in transport energy by 2050 and/or later years. Different transport modes and sectors have different requirements and are projected to adopt different low-carbon fuels. Electricity is projected to play a key role in road and rail, though liquid low-carbon fuels dominate shipping and aviation and are expected to eventually surpass petroleum use. Deep CO2 reduction scenarios tend to assume strong policies that drive reductions. Policies such as efficiency standards, technology requirements, achieving technological innovation, and infrastructure investment are typically important drivers for influencing the adoption and scale-up of low-carbon technologies and fuels across regions. |
| Keywords: | Engineering, Social and Behavioral Sciences |
| Date: | 2025–10–02 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt490159fh |
| By: | Philippe Boyer (Académie d'Agriculture de France); Jean-Pierre Butault (INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | This article proposes an intra-European comparison of the breakdown of consumption expenditure on agrifood products into values added induced for the different branches, taxes and imports. It focuses in particular on the level of the share of agriculture in this consumption, alongwith its determinants. This study makes use of the calculations first proposed by W. Leontief, tailored to the available data (Eurostat input-output tables), and builds upon two measures which already exist at national level: the "euro alimentaire" in France, and the "food dollar" in the USA. The results show that those countries with high imports and high taxes stand apart from those countries where the distribution of consumption expenditure is more favourable towards value added. Countries also vary in the way this value added is distributed between the trade and service sectors, on the one hand, and agriculture and the agrifood processing industry, on the other. In France, compared with other European nations, the breakdown of expenditure is fairly favourable to value added, while the share taken by agriculture is close to the European mean. |
| Abstract: | L'article propose une comparaison européenne de la répartition de la dépense de consommation de produits agroalimentaires en valeurs ajoutées induites dans les différentes branches, taxes et importations. Il étudie plus particulièrement le niveau de la part de l'agriculture dans cette consommation ainsi que ses déterminants. L'étude, fondée sur les calculs initiés par W. Leontief, adaptés aux données disponibles (tableaux entrées-sorties d'Eurostat), enrichit les deux approches nationales de même nature existantes : l'« euro alimentaire » en France et le « food dollar » aux États-Unis. Les résultats montrent que les pays plus importateurs et à fortes taxes se distinguent de ceux où le partage de la dépense de consommation est plus favorable aux valeurs ajoutées. Les pays se distinguent également selon la répartition de ces valeurs ajoutées entre commerce et services d'une part, agriculture et industrie agroalimentaire d'autre part. En France, relativement à d'autres pays européens, le partage de la dépense est plutôt favorable aux valeurs ajoutées, avec une part de l'agriculture proche de la moyenne. Abstract -This article proposes an intra-European comparison of the breakdown of consumption expenditure on agrifood products into values added induced for the different branches, taxes and imports. It focuses in particular on the level of the share of agriculture in this consumption, alongwith its determinants. This study makes use of the calculations first proposed by W. Leontief, tailored to the available data (Eurostat input-output tables), and builds upon two measures which already exist at national level: the "euro alimentaire" in France, and the "food dollar" in the USA. The results show that those countries with high imports and high taxes stand apart from those countries where the distribution of consumption expenditure is more favourable towards value added. Countries also vary in the way this value added is distributed between the trade and service sectors, on the one hand, and agriculture and the agrifood processing industry, on the other. In France, compared with other European nations, the breakdown of expenditure is fairly favourable to value added, while the share taken by agriculture is close to the European mean. |
| Keywords: | agricultural income, input output tables and input output analysis, food supply chain, value added, revenu agricole, filière agroalimentaire, tableaux entrées-sorties et analyse entrées-sorties, valeur ajoutée |
| Date: | 2025–10–17 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05297476 |
| By: | Rampazzo, Francesco; Bijak, Jakub; Vitali, Agnese; Weber, Ingmar (Qatar Computing Research Institute); Zagheni, Emilio |
| Abstract: | Accurate and timely estimates of migrant population stocks, disaggregated by age and sex, are critical for population projections and for understanding migration dynamics. This study proposes a hierarchical Bayesian model that extends previous work by incorporating age and sex disaggregation, using data from the Labour Force Survey (LFS) and digital traces from the Facebook Advertising Platform. A Bayesian multinomial–Dirichlet–Dirichlet model harmonizes age and sex profiles from the two sources, leveraging the Rogers–Castro framework to characterize migration age schedules and utilizing the conjugate nature of Dirichlet priors to ensure computational efficiency. We illustrate the framework using data on migrant populations in the United Kingdom for 2018 and 2019, based on the two sources: the Labour Force Survey and Facebook. The analysis identifies three distinct migrant groups with differing age and sex profiles: younger Western and Southern European migrants, slightly older Central and Eastern Europeans, and a predominantly older Irish migrant population. Facebook data enhances the coverage of younger migrants, who are often underrepresented in traditional surveys, while the LFS provides broader demographic context and helps benchmark the estimates to standard population definitions. The findings highlight the utility of integrating traditional and digital data sources to address gaps in migration statistics. This framework enables more accurate disaggregation of migrant population stock data and offers a scalable, computationally efficient methodology for improving migration estimates, particularly in contexts lacking ground-truth data. The approach also yields insights into migration patterns and demographic structures, with potential applications in policy planning and demographic research. |
| Date: | 2025–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:nq3fc_v1 |
| By: | Jérémy Morvan (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], ICI - Laboratoire Information, Coordination, Incitations - UEB - Université européenne de Bretagne - European University of Brittany - UBO - Université de Brest - Télécom Bretagne - IMT - Institut Mines-Télécom [Paris] - IBSHS - Institut Brestois des Sciences de l'Homme et de la Société - UBO - Université de Brest) |
| Abstract: | Les émissions d'obligations vertes se multiplient. Elles répondent à différents objectifs qui vont du financement de projets destinés à préparer la transition vers une économie bas carbone à la communication envers des parties prenantes plus ou moins sensibles à la question du dérèglement climatique et ses conséquences. Cette recherche est une étude d'évènement qui évalue l'impact des émissions d'obligations vertes par le secteur bancaire sur le marché des actions européennes. Plusieurs résultats sont mis en évidence. D'une part, plusieurs indices ne réagissent pas à l'émission d'obligations vertes, autant des indices conventionnels que des indices climatiques, pointant la diversité de la finance climatique, dans ses méthodes de sélection des titres et donc sa sensibilité à certaines informations de marché. D'autre part, les indices qui réagissent sont tous impactés à la baisse. En effet, la régression des résidus de l'étude de l'évènement par rapport à un ensemble de variables capturant les caractéristiques des indices et des émissions obligataires met en évidence une relation négative avec le taux d'intérêt des émissions. Ainsi, plus le taux est élevé, plus la réaction est négative. |
| Keywords: | émission, indices d'actions, obligation verte, étude d'évènement |
| Date: | 2024–04–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05312297 |
| By: | Philip Fliegel; Achim Hagen; Nicolas Koch; Nolan Ritter |
| Abstract: | We study the impact of carbon pricing on household finance using European microdata on loans for internal combustion engine vehicles. Exploiting cross-country variation in the same car models with a difference-in-differences design, we find that banks respond to Germany's carbon price announcement by raising interest rates by 0.5 percentage points, with larger increases for loans on fuel-intensive vehicles and for longer maturities. Banks also shorten loan maturity, reduce amounts, and shift to linear repayments, while households choose more fuel-efficient new cars. Captive banks respond more strongly than commercial banks. Collateral and default risk channels jointly explain these adjustments, highlighting household finance as a key transmission channel of climate policy. |
| Keywords: | credit pricing, climate policies, climate transition risk |
| JEL: | G21 G50 G51 Q54 Q58 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12288 |
| By: | Sascha O. Becker (U Warwick and Monash University); Hartmut Egger (University of Bayreuth); Michael Koch (Aarhus University); Marc-Andreas Muendler (UC San Diego) |
| Abstract: | This paper links globalization, worker efficiency, and wage inequality within plants to internal labor market organization. Using German plant–worker data and information on the task content of occupations, we document that larger plants (i) use more occupations, (ii) assign fewer tasks per occupation, and (iii) exhibit greater wage dispersion. We develop a model where plants endogenously bundle tasks into occupations, improving worker-task matching at the cost of higher fixed span-of-control costs. Embedding this into a Melitz framework, we show that trade increases worker efficiency and wage inequality in exporting plants, whereas non-exporting plants experience the opposite effects. Structural estimation and simulations confirm the model’s predictions and point to non-monotonic economy-wide effects. |
| Keywords: | Tasks;, specialization;, international trade;, irm-internal labor allocation |
| JEL: | F12 F16 J3 L23 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:mos:moswps:2025-21 |
| By: | Henten, Anders; Falch, Morten; Tadayoni, Reza |
| Abstract: | The good arguments for the EU Ecodesign for Sustainable Products Regulation (ESPR) including the Digital Product Passport (DPP) are 'queuing up', as the ESPR can help reduce waste and pollution, harmonize requirements on performance and information, increase trust among business partners and end-users, promote a level playing field for businesses in Europe, and potentially position European industries in the international competition. The ESPR is a response to the coordination problems regarding circularity and the externality problems that individual industries encounter and create in their activities. From industry side, there are, however, also counter interests and arguments. The performance and information requirements can be seen as a burden on businesses, and especially the small and medium-sized enterprises have expressed concerns to that effect. The paper discusses the drivers and barriers for the implementation of the information requirements of the Digital Product Passport. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331272 |
| By: | Luigi Ventura (Department of Economics and Law, Sapienza, University of Rome, ITALY); Charles Yuji Horioka (Research Institute for Economics and Business Administration, Kobe University, Institute of Social and Economic Research, Osaka University, Asian Growth Research Institute, JAPAN, and National Bureau of Economic Research, U.S.A.) |
| Abstract: | Previous authors have asserted that precautionary saving will arise only if consumers are not only risk-averse but also prudent, but in this paper, we first show that when saving occurs in the context of a financial economy featuring at least one other asset, prudence is neither necessary, nor sufficient, to generate precautionary saving, i.e. saving induced only by variance in income. Then, simplifying and elaborating on some results presented in Eeckhoudt and Schlesinger (2008), we address a particular form of precautionary saving, which we name “intertemporal precautionary saving” to distinguish it from purely intertemporal and purely precautionary saving, and show that it will inevitably arise in the case of pure (downside) risk as long as consumers are risk-averse, regardless of whether or not they are prudent, and that prudence will affect only its extent. Thus, our paper challenges the conventional wisdom on precautionary saving in at least two ways. |
| Keywords: | Household saving; Precautionary saving; Prudence; Pure risk; Risk aversion; Saving; Speculative risk |
| JEL: | D11 D14 D15 D81 E21 G51 |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:kob:dpaper:dp2025-28 |
| By: | Roberto Basile (Department of Legal and Economic Studies, Sapienza University of Rome); Cinzia Castagnaro (Italian National Institute of Statistics (ISTAT)); Francesca Centofanti (University of Rome "Tor Vergata"); Francesca Licari (Italian National Institute of Statistics (ISTAT)) |
| Abstract: | Population aging challenges welfare systems, particularly in rapidly aging countries such as Italy. Using municipality-level data (2002–2023), this paper examines aging dynamics through the Potential Support Ratio (PSR), the ratio of working-age (15–64) to old-age (65+) population. We apply a beta regression framework to analyze spatial convergence and a two-step decomposition to disentangle the contributions of cohort turnover, mortality, and migration. Findings show strong convergence in aging, with international migration partly mitigating demographic imbalance, while internal migration exacerbates it, increasing fragility in peripheral areas. Policy implications highlight the need to strengthen welfare sustainability and regional equity. |
| Keywords: | population aging; migration; potential support ratio; Italy; spatial convergence |
| JEL: | F22 J61 R23 C14 C21 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:gfe:pfrp00:00077 |
| By: | Van Wolleghem, Pierre; Soares, Marta Bruno; Puga-Gonzalez, Ivan; Shults, LeRon |
| Abstract: | As climate change intensifies, European local authorities (LAs) face growing pressure to adapt effectively. This article explores how LAs acquire and disseminate climate and policy knowledge, with a focus on their participation in EU-funded Research and Innovation (R&I) projects and Transnational Municipal Networks (TMNs). We map over 500 LAs involved in climate-related R&I projects and nearly 14, 000 LAs participating in 12 TMNs. Social Network Analysis (SNA) is used to identify influential hubs, LAs that have potential to both generate and spread adaptation knowledge. We find considerable variation in participation across LAs, both in R&I projects and TMN membership. Cities like Lisbon, Milan, and Tampere emerge as potential “super-spreaders”, displaying high centrality and the potential to bridge otherwise disconnected parts of the European network. |
| Date: | 2025–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:erxqg_v1 |
| By: | Brüll, Eduard |
| Abstract: | Do public holidays meaningfully affect economic output? In Germany, strict Sunday laws create a unique natural experiment: when public holidays fall on Sundays, they typically do not additionally disrupt business activity. Exploiting this variation across states and years, I estimate the economic cost of a "lost" workday. Using monthly manufacturing data and a stacked event-study approach, I find that weekday holidays lead to modest but measurable reductions in output. Scaling the estimates implies annual GDP losses between 0.06% and 0.28%, depending on whether the effect is assumed to apply only to manufacturing or to the whole economy. |
| Keywords: | Public holidays, Labor supply, Natural experiment, Germany |
| JEL: | E23 J22 H24 H75 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:zewdip:333392 |
| By: | Roberto Basile (Department of Legal and Economic Studies, Sapienza University of Rome); Francesca Licari (Italian National Institute of Statistics (ISTAT)); Francesca Centofanti (University of Rome "Tor Vergata"); Cinzia Castagnaro (Italian National Institute of Statistics (ISTAT)); Elena Ambrosetti (Department of Methods and Models for Economics, Territory and Finance, Sapienza University of Rome) |
| Abstract: | This paper provides new evidence on the brain drain in Italy. Building on the framework proposed by Becker, Ichino, and Peri (2004), we measure brain drain through a comprehensive set of indicators. Unlike previous studies, we account for return migration — not just emigration — of Italians and assess brain drain as the net loss of human capital. We also explore the interplay between international and internal migration, with particular attention to the outflow of high-skilled workers from Southern to Northern Italy. The findings show that, over the period 2013–2023, the migration of highly qualified youth from the South to the North more than offset the international brain drain affecting the North, while significantly deepening the human capital depletion in the South. Finally, we exploit new data on the educational attainment of foreign immigrants, assessing their contribution to the dynamics of human capital at both national and regional level. |
| Keywords: | Brain drain; Italian migration; Mezzogiorno; internal migration; human capital |
| JEL: | J24 F22 R23 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:gfe:pfrp00:00076 |
| By: | Goel, Tirupam; Telegdy, Álmos; Banai, Ádám; Takáts, Előd |
| Abstract: | Subsidies should target firms with profitable opportunities and insufficient funding, but this is difficult due to information asymmetry between firms and the government. We study how credit history of firms can help design more efficient subsidies. To this end, we combine data on non-repayable firm subsidies and the credit registry from Hungary. Using subsidy winners and losers as treated and control groups and leveraging variation in access to loans, we identify the differential impact of subsidies. While subsidies lead to an incremental impact on assets of loan-deprived as compared to loan-acquiring firms, the impact is transitory and fades after a few years. The impact on profitability follows a similar pattern despite the higher expected marginal value of capital for loan-deprived firms. Thus, loan deprivation is likely caused by borrower shortcomings instead of credit rationing by banks. In such cases, subsidies need not target loan-deprived firms. |
| Keywords: | credit constraints; credit registry; Hungary; SME subsidies |
| JEL: | H25 H32 G38 G21 |
| Date: | 2024–08–01 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123735 |
| By: | Suter, Manuel; Nicholas, Kimberly; Hasselbalch, Jacob; Fitzpatrick, Nick; Droste, Nils (Lund University) |
| Abstract: | This study surveyed 1, 734 sustainability policy researchers from 97 countries on the potential, feasibility, and dependence on economic growth of 88 policy instruments from post-growth literature for implementation in the European Union. Fifty instruments across eleven themes were endorsed by a majority of respondents as ones that should be part of an EU sustainability policy mix aiming for reduced ecological footprints, securing well-being, and increasing equity. Nine policy instruments stood out for their high perceived potential, feasibility, and independence from economic growth: phasing out fossil fuel subsidies, greening credit regulations, North-South technology transfer, carbon consumption taxes, long-term warranties, repair infrastructure, cycling and pedestrian infrastructure, ecological education, and environmental justice-focused education. Perceptions of higher policy potential were closely associated with greater perceived feasibility and a degrowth orientation in respondents’ own work. The findings suggest that many post-growth policies are viewed as realistic and legitimate options for the EU. |
| Date: | 2025–11–25 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:krwe9_v1 |
| By: | Gensch, Luisa; Jantke, Kerstin; Schneider, Uwe A.; Rasche, Livia |
| Keywords: | Land Economics/Use, Environmental Economics and Policy, Resource/Energy Economics and Policy |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ags:aaea24:343670 |
| By: | Piera Bello (Bergamo University); Marius Cziriak (ZEW – Leibniz Centre for European Economic Research); Mario Padula (Ca’ Foscari University of Venice) |
| Abstract: | Fees play a critical role in shaping the pension benefits provided by defined contribution (DC) pension funds. Even small differences in fees, when compounded over a long contribution period, can lead to substantial disparities in retirement income. In this study, we focus on Chile — a country with a large, mandatory DC pension system — to examine how individuals choose among pension fund administrators. Despite a regulated fee structure that ensures transparency and the absence of switching costs, we observe significant fee dispersion across providers and low switching rates among participants. Our findings reveal that individuals with higher financial literacy and a better understanding of the institutional framework are significantly more likely to switch providers, thereby minimizing fees. |
| Keywords: | Fees, defined contribution pension funds, investment mistakes, investor sophistication |
| JEL: | D14 G53 H55 J32 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:ven:wpaper:2025:26 |
| By: | International Monetary Fund |
| Abstract: | Following a robust post-pandemic recovery (9 percent average growth from 2021–23), growth decelerated to 3.2 percent in 2024 and the first half of 2025, driven partially by softening tourism. Inflation has risen from 1 percent in September 2024 to 4.9 percent as of September 2025, reflecting a combination of external, domestic demand, and wage pressures. The 2025 Article IV consultation aims to address emerging macro imbalances and help position the economy for accession to the European Union (EU), which the authorities are targeting by 2028. |
| Keywords: | exchange rate arrangement; legal tender in Montenegro; fund relation; SDR million; Catastrophic Containment and Relief; Fiscal stance; Fiscal law; Wages; Europe; Global |
| Date: | 2025–11–20 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2025/304 |
| By: | Roveri, Camilla; Mortati, Marzia; Corcho, Oscar; Feijóo, Claudio |
| Abstract: | As Artificial Intelligence (AI) becomes a structural driver of change in public administration, a critical gap persists between the rapid deployment of algorithmic systems and the institutional capacity to govern them responsibly. This paper addresses this tension through a comparative analysis of 70 continuing education programmes in Europe aimed at upskilling and reskilling public sector professionals in AI. It proposes a functional competency framework, grounded in regulatory, technical, and academic sources, which identifies five distinct public sector profiles and maps them across operational, governance, and meta levels. The study uses this framework to evaluate programme coverage, pedagogical modalities, and structural features supporting institutional transformation. Results reveal a widespread focus on digital transformation and regulatory compliance, while competencies in strategic foresight, ethical reasoning, and participatory design remain significantly underrepresented. Programmes combining modular design, blended learning, and competency-based certification show the highest transformative potential. The paper concludes by outlining the principles of a strategic and replicable model for public sector AI training, arguing that effective upskilling requires curricular innovation and sustained organisational infrastructures to translate individual learning into systemic democratic capacity. |
| Keywords: | Artificial Intelligence (AI), Public Sector, Upskilling and Reskilling, Competency Framework, Institutional Capacity |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331301 |
| By: | Laitsou, Eleni; Gerogiannis, Vassilis C.; Savvas, Ilias K. |
| Abstract: | This paper investigates the macro-level determinants of Artificial Intelligence (AI) adoption among enterprises in the 27 member states of the European Union (EU-27) over the period 2021–2023. Drawing on data from the Digital Economy and Society Index (DESI) and Eurostat, the study employs a multiple linear regression model to assess the influence of four key variables: R&D expenditure, the share of large enterprises, the proportion of the population with above-average digital skills, and access to very high-capacity networks. All variables are log-transformed to enable elasticity-based interpretation. The findings indicate that all four factors are statistically significant and positively associated with AI adoption, with digital skills and VHCN coverage exhibiting the strongest effects. Notably, the inclusion of the share of large enterprises as an explanatory variable provides a novel contribution, underscoring the structural conditions that facilitate technology diffusion at scale. Complementary scatterplot analysis further illustrates these relationships and identifies outlier cases that deviate from general trends. The paper concludes by highlighting the importance of context-sensitive policy interventions that integrate infrastructure investment, skills development, and structural upgrading to support inclusive and effective AI adoption across the EU. |
| Keywords: | Artificial Intelligence Adoption, European Union (EU-27), Digital Economy and Society Index (DESI), R&D, Digital Skills, Large Enterprises |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331288 |
| By: | Roberto Basile (Department of Legal and Economic Studies, Sapienza University of Rome); Francesca Centofanti (University of Rome "Tor Vergata"); Giovanna Ciaffi (University of Bari "Aldo Moro"); Francesca Licari (Italian National Institute of Statistics (ISTAT)) |
| Abstract: | This paper evaluates the demographic effects of two major earthquakes — L’Aquila 2009 and Central Italy 2016 — in Central-Southern Italy, a wide area already experiencing depopulation due to factors unrelated to natural disasters. Using municipality-level data (2002–2023) and a difference-in-differences design with multiple groups and periods, we estimate causal impacts on depopulation, age structure, natural dynamics, and migration. Results suggest an acceleration of the decline in the overall population of the area due to these natural disasters, especially among elder Italians, largely driven by out-migration, while natural demographic dynamics remained stable. Effects differ across disasters: the 2016 earthquake caused declines in all age groups, whereas in 2009 population losses among elderly Italians were offset by gains in working-age foreigners. |
| Keywords: | natural disasters; demography; earthquakes; migration; Italy; depopulation |
| JEL: | J11 Q54 R10 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:gfe:pfrp00:00075 |
| By: | Léa Barbaut (MAGELLAN - Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon); Valérie Revest (MAGELLAN - Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon); Hervé Goy (MAGELLAN - Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon) |
| Abstract: | On le retrouve sur les slogans publicitaires, dans les plans d'action des entreprises, les stratégies des collectivités et les discours politiques ou réglementaires : le recyclage est devenu l'un des emblèmes les plus consensuels de la transition écologique. Dans le cas des plastiques, et plus particulièrement des emballages à usage unique, il est souvent présenté comme la composante clé d'une économie circulaire.Encadré par une série de directives européennesnotamment la directive 2018/852 qui impose de recycler 50 % des emballages plastiques d'ici 2025 et 55 % d'ici 2030, ainsi que la directive "Single-Use Plastics" (2019/904)et par la loi française AGEC (2020), qui vise le recyclage de 100 % des plastiques d'ici 2040 le recyclage s'est vu assigner des objectifs contraignants pour lutter contre la pollution plastique. À première vue, le principe est vertueux : prolonger la vie des matériaux, réduire les déchets et limiter l'extraction de ressources. |
| Date: | 2025–07–10 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05328739 |
| By: | Cabrini, Silvina; Olemberg, Demián; Cristeche, Estela; Pace, Ignacio; Amaro, Ignacio Benito |
| Abstract: | Climate change poses a challenge to agri-food systems. Recognizing the need for emission reduction, the European Union (EU) is contemplating the integration of the agricultural sector into formal carbon pricing mechanisms. This study employs the CLIMTRADE model to assess the potential consequences of a EU's carbon border adjustment mechanism (CBAM) on beef trade for Argentina, Brazil and Uruguay. The model considers a baseline bilateral trade matrix, emission intensities, international transport emissions, and potential carbon prices, resulting in the corresponding impacts on imports and exports, depending on the scenario considered. The results indicate that imposing a carbon tax within the EU leads to reduced beef imports, increased domestic prices, and potential carbon leakage. However, deploying a CBAM could mitigate carbon leakage and further reduce emissions. This study contributes to the discussion on the consequences for livestock production in South America of the advancement of emission reduction policies in agriculture driven by developed countries and their implications for the configuration of international trade. |
| Keywords: | Environmental Economics and Policy, International Relations/Trade |
| Date: | 2024–07–26 |
| URL: | https://d.repec.org/n?u=RePEc:ags:iaae24:344399 |
| By: | Plaasch, Jannick; Röthig, Andreas |
| Abstract: | This paper describes a Growth-at-Risk (GaR) model of the Bundesbank for Germany. This model takes the form of a quantile regression that quantifies downside risk to German GDP growth associated with financial developments. A systematic comparison of diverse model specifications is performed to select the most suitable GaR model based on economic criteria and out-of-sample predictive performance. The preferred model relates the 10% quantile of the conditional distribution of GDP growth to financial stress in Germany as captured by the Country-Level Index of Financial Stress (CLIFS), as well as US financial conditions as meas- ured by the National Financial Conditions Index (NFCI) for the USA. In addition, the preferred specification includes GDP growth of the two preceding periods to account for serial dependence and a business confidence indicator (BCI) of German companies, which underscores that economic sentiment also matters for downside risk to growth. The evaluation shows that the 10% quantile coefficients are more stable than those of the 5% quantile, making the 10% quantile a more robust measure of downside risk for German GDP. Data from the COVID period are excluded, as the pandemic was not a financial system-driven crisis. Estimation results show that financial stress, measured by both CLIFS and NFCI, contributed most strongly to downside risk to GDP growth during the 2007/2008 Global Financial Crisis. The CLIFS also significantly increased downside risk in the early 2000s and following the Russian invasion of Ukraine. In recent years, historically low financial stress has corresponded to moderate downside risk, with economic sentiment acting as the main amplifier. |
| Keywords: | Growth-at-Risk, GDP Growth, Germany, Tail Risk, Financial Conditions |
| JEL: | C53 E23 E27 E32 E44 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:bubtps:333425 |
| By: | Adelaide Nascimento (SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Marianne Cerf (SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Vincent Boccara (CPU - Cognition, Perception et Usages - LISN - LISN - Laboratoire Interdisciplinaire des Sciences du Numérique - Inria - Institut National de Recherche en Informatique et en Automatique - CentraleSupélec - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - IaH - Interaction avec l'Humain - LISN - Laboratoire Interdisciplinaire des Sciences du Numérique - Inria - Institut National de Recherche en Informatique et en Automatique - CentraleSupélec - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Chloé Le Bail (CPU - Cognition, Perception et Usages - LISN - LISN - Laboratoire Interdisciplinaire des Sciences du Numérique - Inria - Institut National de Recherche en Informatique et en Automatique - CentraleSupélec - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique - IaH - Interaction avec l'Humain - LISN - Laboratoire Interdisciplinaire des Sciences du Numérique - Inria - Institut National de Recherche en Informatique et en Automatique - CentraleSupélec - Université Paris-Saclay - CNRS - Centre National de la Recherche Scientifique); Raphaële Le Bouter (BPH - Bordeaux population health - UB - Université de Bordeaux - Institut de Santé Publique, d'Épidémiologie et de Développement (ISPED) - INSERM - Institut National de la Santé et de la Recherche Médicale); Irène Gaillard (CRTD - Centre de recherche sur le travail et le développement - Cnam - Conservatoire National des Arts et Métiers [Cnam], Toulouse INP - Institut National Polytechnique (Toulouse) - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT2J - Université Toulouse - Jean Jaurès - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - EPE UT - Université de Toulouse - Comue de Toulouse - Communauté d'universités et établissements de Toulouse); Alice Lyonnet (SayFood - Paris-Saclay Food and Bioproduct Engineering - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Agathe Riou (SADAPT - Sciences pour l'Action et le Développement : Activités, Produits, Territoires - AgroParisTech - Université Paris-Saclay - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Alain Garrigou (BPH - Bordeaux population health - UB - Université de Bordeaux - Institut de Santé Publique, d'Épidémiologie et de Développement (ISPED) - INSERM - Institut National de la Santé et de la Recherche Médicale); Leïla Boudra (PARAGRAPHE - Laboratoire Paragraphe - UP8 - Université Paris 8 - CY - CY Cergy Paris Université) |
| Abstract: | This article analyses the links between the ecologization of food systems and transformations of work in two Territorial Food Projects in France. Three case studies are explored, based on a reflective analysis conducted by the researchers: the governance of a Territorial Food Project; the management of a sustainable food offer in mass catering; and the project to replace plastic containers in a central kitchen. For each case, an ergonomics-based iterative methodology was used, drawing on observations, semi-structured interviews, working groups, and reflective workshops. The results reveal how workers act as essential mediators between the macro level (the Territorial Food Project and related laws), the meso level (collective action in local projects) and the micro level (the activity of actors in the food system). |
| Keywords: | Work, Territorial food projects, Participatory ergonomics, Ecologization, Ecological transition |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05331924 |
| By: | Földes, Gábor |
| Abstract: | EU Digital Decade 2030 connectivity targets require from operators to provide full broadband fixed and mobile population-based coverage. There is a common agreement on detected investment GAP, however the resolution plans are diverging. In order to stimulate investments, operators argue for more cooperation (horizontal mergers) among operators to improve economies of scale, while regulators advocate for more competition to force investment race. The aim of the paper to focus on how economies of scale can be improved by a horizontal merger and what size of the risk may occur from constrained competition that partially may offset efficiency benefits at total social welfare level. The research question is set to understand and identify root causes in the differences of consumer price, operator investment and service quality assessments related 4 to 3 (mobile) mergers in the EU. The methodology of the paper is that based on qualitative research on competition policy aspects initiates snowballing approach for systematic literature review and critical assessment of academic papers applying quantitative researches on Europe-wide and decades-long database for regression and DiD (Difference in Differences Model) Fixed panel model analysis. The hypothesis is that the differences in findings of quantitative models might be more transparent and understandable if relevant modelling assumptions and data specifications are explicitly expressed on which scenario the finding is relevant and valid. The novelty of the paper is to attempt to set-up an apple-to-apple comparison of different quantitative models, by adding validity criteria and the relevance of the sample-based finding for the whole data population. |
| Keywords: | telecom mobile operators, horizontal mergers, competition, consumer prices, 5G network investments |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331269 |
| By: | Zika, Gerd (Institute for Employment Research (IAB), Nuremberg, Germany); Hassemer, Theresa-Marie (IAB); Hummel, Markus (Institute for Employment Research (IAB), Nuremberg, Germany); Krebs, Bennet (BIBB); Maier, Tobias (BIBB); Mönnig, Anke (GWS); Schneemann, Christian (Institute for Employment Research (IAB), Nuremberg, Germany); Weber, Enzo (Institute for Employment Research (IAB), Nuremberg, Germany); Zenk, Johanna (Institute for Employment Research (IAB), Nuremberg, Germany) |
| Abstract: | "The ongoing development and integration of artificial intelligence (AI) is increasingly shaping markets and workplaces both globally and within Germany. The present scenario analysis addresses the potential impacts of AI on the development of the German economy and labour market over a 15-year period. For this purpose, an AI scenario was developed and then compared to a reference scenario. In the AI scenario, the necessary infrastructure for AI development and integration must be in place, offering sufficient computing capacity in data centres. Furthermore, there will be different economic-sector-specific penetration paths and efficiency levels. Companies in the respective economic sectors have to invest upfront. Consequently, the impact of AI will vary depending on the economic sector. In some cases, material savings can be achieved. In others, productivity increases or new sales opportunities can be generated. In many economic sectors, a combination of these economic potentials is conceivable. It is evident that other countries are also engaged in the development and integration of AI. For the AI scenario, it is therefore assumed that the overall economic effects abroad will be similar to those in Germany, with the corresponding effects on German import prices. The results show that the implementation of AI can result in a substantial enhancement in added value, particularly over the medium and long term, while maintaining almost equivalent labour input as in the reference scenario. Based on the assumptions made, there is potential for annual economic growth to be 0.8 percentage points higher on average than in the reference scenario. Cumulatively over the next 15 years, 4.5 trillion euros in additional value added could be generated. In the AI scenario, total employment reaches a level similar to that of the reference scenario after 15 years. Nevertheless, there are clear shifts in the labour market. Certain economic sectors will experience an increase in labour demand, while others face a decline in employment. In the initial stages of accelerated AI development and integration, an overall higher labour demand can be expected. The higher labour demand is driven by the need to establish the necessary infrastructure, process and prepare data, and develop models. In the medium term, there will be a slightly lower demand for labour due to increased efficiency. However, towards the end of the projection period, there is potential to compensate for these medium-term employment losses. The development of new business models in particular will result in higher demand for labour. Overall, the opposing effects on employment will ultimately be balanced by each other. Hence, the assumptions made in the AI scenario do not exclusively lead to positive or negative effects on the labour market but indicate that there will be shifts in some economic sectors. In IT and information service activities, for example, the number of employed persons is after 15 years around 110, 000 higher than in the reference scenario. In contrast, the number of employed persons in business support activities is around 120, 000 lower. Nevertheless, a decline in employment numbers should not necessarily be interpreted as a deterioration in the labour market. In the long term, scarce human resources could be deployed more efficiently with the potential to reduce labour shortages in affected occupational groups. At the same time, it is to be expected that an increased use of AI will change the requirements within the workplace. The effect on employment by requirement level indicates that highly skilled jobs are particularly more affected by AI applications than by traditional, non-learning software." (Author's abstract, IAB-Doku) ((en)) |
| Keywords: | Bundesrepublik Deutschland ; IAB-Open-Access-Publikation ; Auswirkungen ; Beschäftigungseffekte ; Bruttoinlandsprodukt ; Infrastrukturinvestitionen ; künstliche Intelligenz ; Anwendung ; Produktivitätseffekte ; Rechenzentrum ; qualifikationsspezifische Faktoren ; sektorale Verteilung ; BIBB/IAB-Qualifikations- und Berufsfeldprojektionen ; Arbeitskräftebedarf ; Szenario ; Weiterbildungsbedarf ; Wertschöpfung ; 2023-2040 |
| Date: | 2025–11–19 |
| URL: | https://d.repec.org/n?u=RePEc:iab:iabfob:202523 |
| By: | Giannikou, Ioanna; Ioannou, Nikos; Tselekounis, Markos |
| Abstract: | Driven by the rapid rollout and densification of 5G networks, alongside mounting operational costs and carbon-reduction commitments, telecommunications operators and policymakers face a critical need for sustainable energy strategies. This paper presents a European-wide techno-economic and environmental assessment of retrofitting 5G macro-cell base stations with grid-connected solar photovoltaic (PV) systems. Using a techno-economic bottom-up model driven by real irradiance and load profiles, a 20-year discounted cash-flow (DCF) analysis is performed. Country-specific area/land characteristics, as well as capital, operating and land-lease costs are considered to determine net present value (NPV), whereas life-cycle assessment (LCA) is employed to quantify emission savings. Results show that rural sites are almost universally NPV-positive, however urban installations yield strong returns only in high-irradiance and high electricity price markets, while remaining marginal elsewhere. Sensitivity testing highlights electricity prices and land-lease costs as primary drivers. Modest electricity price trend close or above inflation and/or reuse of 30–70% of existing site area if available can render borderline markets profitable. Under profit-maximizing deployment, PV reduces national emissions by |
| Keywords: | 5G mobile networks, solar panels, CO2 emissions, green energy, NPV, technoeconomic analysis, LCA |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331271 |
| By: | Sharp, Jared; Dietz, Simon; Ashraf, Shafaq; Chiu, Hayli |
| Abstract: | The TPI Centre has assessed the transition plans of 10 of the world’s largest, publicly listed oil and gas companies (five from Europe and five from North America) using the new Net Zero Standard for Oil & Gas. |
| JEL: | R14 J01 L81 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:130323 |
| By: | Yan, Shunyao (Santa Clara University - Marketing); Miller, Klaus M. (HEC Paris) |
| Abstract: | We study how polarizing content shapes two economic outcomes on a major European news website: engagement (time on site) and commitment (paid subscriptions). Using advances in natural language processing, we construct deep-learning and large-language-model-based textual measures of polarization tailored to a multiparty system. We combine comprehensive supply and demand data-the full publisher-wide article inventory with user-level clicks and subscription outcomes-to track how consumers interact with polarizing articles. To identify causal effects, we use two theoretically distinct instruments: (i) a Bartik-style design that interacts users' stable topic preferences with weekly shifts in the supply of polarizing content; and (ii) an election shock that raises political salience for a subset of readers. We document a "polarization trap": exogenous increases in exposure to polarizing content raise engagement (time on site) but reduce the probability of subscribing. The negative subscription effect is driven more by the affective than the ideological dimension of polarization and is strongest during high-salience political periods. These results imply a strategic trade-off for publishers: content that maximizes short-run attention can undermine the formation of a loyal, paying subscriber base. |
| Keywords: | Polarization; Subscriptions; Online Media; News Consumption; Instrumental Variables; Natural Language Processing |
| JEL: | M00 |
| Date: | 2025–10–06 |
| URL: | https://d.repec.org/n?u=RePEc:ebg:heccah:1585 |
| By: | Rodríguez Pita, María del Pilar; Pérez Martínez, Jorge Emiliano; Urueña López, Alberto |
| Abstract: | This study investigates digital sovereignty as a multidimensional concept shaped by technology, governments and society. It proposes a quantifiable Digital Sovereignty Framework to serve as a basis for digital policy development based on data as well as providing an objective and robust framework for measuring the effectiveness of public policies in the long term. Analysis reveals a high impact of technological development in the achievement of digital sovereignty, especially in the development of technological industry and emerging technologies. Findings also highlight the relevance of economic development in the early stages of digital sovereignty attainment, as well as the importance of having a diversifies economy to develop strategic autonomy. |
| Keywords: | Digital Sovereignty, Europe, US, China, Geopolitics, Economic Complexity |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331299 |
| By: | Ciaian Pavel (European Commission - JRC) |
| Abstract: | "The application of stress tests, widely used in finance and engineering, to food supply chains and food security remains underexplored. As global crises, climate change and geopolitical disruptions increasingly threaten food systems, stress testing helps assess resilience, identify vulnerabilities and enhance preparedness. This report reviews 25 studies that have applied stress testing or analysed the impact of different disruption scenarios related to food supply chains and food security. It also outlines a potential methodological framework for future food security stress testing. Two main methodological approaches emerge: quantitative models, which provide more precise and measurable insights but involve trade-offs between model complexity and the scale, scope and detail of the food supply chain and food security dimensions they can cover; and qualitative, expert-based approaches, which offer broader, more holistic perspectives of food systems and food security but typically lack quantification. The report also discusses data issues, interdependencies, vulnerabilities, and the strengths and limitations of different stress tests. Given the constraints of quantitative models, a qualitative, expert-based approach, supported by quantitative data, could address more comprehensively the main components of food security. This could involve two expert groups – a technical expert group for analysis and a stakeholder expert group for sectoral insights – working iteratively to integrate expert judgement with empirical evidence to ensure more effective stress testing and policy formulation." |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc141669 |
| By: | Samaké, Said-Nour |
| Abstract: | This paper examines how the rise of Over-the-Top (OTT) or Content and Application Provider (CAP) services reshapes the revenue and investment behavior of telecommunications operators in mobile and fixed broadband markets. A micro-founded theoretical framework links OTT engagement to operators’ pricing and investment incentives, and the predictions are tested empirically using a multi-country quarterly panel (2017 Q3–2024 Q2) combining operator and application-level data. The empirical strategy combines multi-way fixed effects, shift-share instrumental variables (SSIV), and dynamic System GMM estimation to address endogeneity and persistence. Results show that greater OTT usage significantly lowers the average revenue per connection (ARPC) in mobile markets. As users access identical OTT platforms through any network, perceived differentiation between operators vanishes. Price competition intensifies under flat-rate plans, preventing operators from monetizing growing data traffic and leading to revenue dilution. In contrast, the effect on fixed broadband ARPU remains weak, reflecting cost-based pricing and utility-type demand. On the investment side, rising OTT traffic increase capital expenditure (CapEx) as operators expand network capacity. In European mobile markets, investment follows an inverted-U pattern with market concentration, peaking at intermediate levels. Revenue losses from OTT usage are also less pronounced in moderately concentrated markets but stronger in fragmented ones. Overall, OTT expansion erodes monetization while compelling operators to invest to sustain rising traffic. This structural tension exposes a trade-off between static efficiency, constrained by declining revenues, and dynamic efficiency, preserved through continued investment. Policy frameworks should balance competition, pricing flexibility, and value sharing between connectivity and content providers. |
| Keywords: | Telecommunication, Two-sided market, Big Tech, CAP, OTT |
| JEL: | D71 L51 K23 L86 L93 O32 O33 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331303 |
| By: | Ausrine Armonaite (Former Minister of Economy and Innovation of the Republic of Lithuania) |
| Abstract: | The past decade in Europe has been marked by recurring crises that have reshaped economies, societies, and policymaking. This paper reflects on the experience of leading Lithuania's Ministry of Economy and Innovation during three major disruptions between 2020 and 2024: the COVID-19 pandemic, Chinese coercive trade measures, and energy price inflation following Russia's war in Ukraine. Drawing on first-hand observations, the paper identifies recurring patterns in crisis management, comprising three successive stages-shock and uncertainty; liminality, or temporary measures to buy time; and the implementation of long-term solutions. It argues that while each crisis differed in nature, effective management consistently depended on decisive leadership, institutional cooperation, and the ability to transform challenges into opportunities for structural change. The Lithuanian case demonstrates that diversification, adaptive policymaking, and clear communication can sustain economic resilience even in an era where "normal times" no longer exist. The analysis concludes by outlining broader lessons for democratic governance in the age of permanent uncertainty.I began my political career as a city councillor in Vilnius, the capital of Lithuania, and went on to spend ten years in professional politics. This included serving for eight years as a member of parliament, founding and chairing the liberal party Laisvės partija (Freedom Party) with more than 3, 000 members that later became a coalition partner, and serving as the Minister of Economy and Innovation from 2020 to 2024.The Lithuanian government I worked in was tested with the 'new normal' numerous times when I was in office, between the years 2020 and 2024. We dealt with COVID-19, Chinese coercive measures in bilateral trade, the illegal migration crisis from the Middle East, energy price inflation, and let alone, the war and instability in the neighbouring region with the whole package of disruptions involved.My experience as the cabinet minister is, of course, related to the case of one country-Lithuania. It involved global events and external actors; however, I understand that the small details of our national policy may not be particularly interesting to the foreign reader. Keeping all that in mind, I want to reveal the broader relevance of my experience. I am going to briefly cover three crises and how we addressed them in the government and at the Ministry of Economy and Innovation of Lithuania: COVID-19, Chinese coercive measures in bilateral trade, and energy price inflation that was caused by the Russian attack on Ukraine. These three events are the focus of this article. |
| Date: | 2025–10–29 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05337595 |
| By: | Ginn, William; Saadaoui, Jamel; Salachas, Evangelos |
| Abstract: | We investigate how the European Central Bank (ECB) and the US Federal Reserve (Fed) re-spond to climate-related shocks, assessing whether the green transition can advance without compromising price stability. Using data from 2000 to 2025 and employing time-varying local projection (TVP-LP) models, we examine the monetary policy reactions to both physical and transition climate risks. Our results show that physical shocks, such as extreme weather events and natural disasters, exert stronger and more inflationary effects on monetary policy than tran-sition shocks related to decarbonization and climate policy. The ECB systematically tightens policy in response to physical shocks, viewing them as supply-side disturbances that threaten price stability, while the Fed’s response is more state-dependent and event-driven, loosening policy during crises like Hurricane Katrina but tightening in the post-COVID inflationary peri-od. For transition risks, both central banks show subdued reactions until 2015, after which the ECB increasingly interprets them as inflationary, whereas the Fed remains more cautious and output oriented. A one standard deviation physical risk shock raises the shadow rate by about 30 bps in the EA and 20 bps in the US after 20 months. These findings reveal that climate shocks have become an integral part of monetary transmission, shaped by mandates and macro-economic context, underscoring the need for price stability to enable the green transition. |
| Keywords: | Climate Risks, Monetary Policy, ECB; Fed, Time-varying Local Projections, Price Stability. |
| JEL: | E52 E58 Q54 Q56 |
| Date: | 2025–10–20 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:126542 |
| By: | Verstraete, Melanie; Ferreira Morais, Jessica; Gelhaar, Joshua; Herregodts, Aron-Levi; Verbrugge, Sofie |
| Abstract: | Data spaces are gaining momentum as a reflection of the digital economy's transformation in Europe. Although research demonstrates potential for overall value creation resulting from collaborative data sharing, insights on incentives for participation, individual and collective value propositions, and ultimate business model sustainability remain limited. This paper aims to understand data spaces operating in different sectors in Europe, revealing incentives for actors' participation, potential misalignments, and actual business models therein. An exploratory multi-sourced case study analyses three data spaces in different industrial sectors: manufacturing supply chain (Smart Connected Supplier Network), mobility (Mobility Data Space), and automotive supply chain (Catena-X). Outcomes reveal that network effects and standardization can be considered as a main incentives for actors to join data spaces as these provide opportunities for cost reduction as well as increased or novel revenue streams. Service payments and use of public funding for initial operations are amongst imbalances found in the study. Due to its inherent complexity, collaborative data sharing environments impose challenges in actor orchestration and individual and collective business model alignments. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331315 |
| By: | Haselmann, Rainer; Heider, Florian; Kaiser, Luis Enrique; Schlegel, Jonas; Tröger, Tobias |
| Abstract: | This study quantifies the impact of geopolitical risk on euro area banks using the 2025 EU-wide stress test, the first to include an explicit geopolitical scenario. Comparing outcomes with earlier stress tests, we find that geopolitical shocks measurably erode capital ratios, with smaller and less diversified banks most affected and considerable heterogeneity across countries. The results highlight how stress testing can capture structural vulnerabilities and inform supervisory responses through Pillar 2 requirements and Systemic Risk Buffers within the Banking Union framework. This document was provided by the Economic Governance and EMU Scrutiny Unit at the request of the ECON Committee. |
| Keywords: | Geopolitical Risk, European Banks, Stress Testing |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:safewh:333389 |
| By: | Hernández de Rojas, Félix; Rodríguez Pita, María del Pilar; Pérez Martínez, Jorge Emiliano |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331274 |
| By: | Freek Holvoet; Christopher Blier-Wong; Katrien Antonio |
| Abstract: | Incorporating spatial information, particularly those influenced by climate, weather, and demographic factors, is crucial for improving underwriting precision and enhancing risk management in insurance. However, spatial data are often unstructured, high-dimensional, and difficult to integrate into predictive models. Embedding methods are needed to convert spatial data into meaningful representations for modelling tasks. We propose a novel multi-view contrastive learning framework for generating spatial embeddings that combine information from multiple spatial data sources. To train the model, we construct a spatial dataset that merges satellite imagery and OpenStreetMap features across Europe. The framework aligns these spatial views with coordinate-based encodings, producing low-dimensional embeddings that capture both spatial structure and contextual similarity. Once trained, the model generates embeddings directly from latitude-longitude pairs, enabling any dataset with coordinates to be enriched with meaningful spatial features without requiring access to the original spatial inputs. In a case study on French real estate prices, we compare models trained on raw coordinates against those using our spatial embeddings as inputs. The embeddings consistently improve predictive accuracy across generalised linear, additive, and boosting models, while providing interpretable spatial effects and demonstrating transferability to unseen regions. |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2511.17954 |
| By: | Deshpande, Advait |
| Abstract: | With the emergence of generative Artificial Intelligence (AI) tools (including large language models) in the popular discourse, the debate on managing, governing, and regulating the impacts of AI on society has grown considerably. In part due to the unique breadth of AI's impacts and its varying implications for the various strata of human workforce, and society, approaches to AI regulation appear to diverge significantly. This combination of scale and potential disruption has caught the attention of regulators worldwide, with China, European Union (EU), and the United States of America (USA) as the forerunners in the regulatory activity. The aim of this paper is to examine the current state-of-play vis-à-vis regulatory approaches to AI and related technologies in China, EU, and the USA. The paper draws on documentary sources and peer-reviewed literature to examine the political and market dynamics at work, the policy pathways, including the processes, the decision-making approaches, and the intended outcomes of these regulatory and legislative approaches. The findings suggest that China's state-directed approach is aimed at integration of technical oversight, social harmony, and the growth of its sovereign AI capabilities. The EU's approach is a comprehensive, risk-based regulatory framework for AI building on its strengths in exporting technology-related rule-making. The USA's approach to AI regulation is decentralised with multi-agency legislation targeting specific AI applications and outcomes while retaining its advantages in AI innovation. The findings are expected to be of interest to academics, researchers, and key stakeholders from government, industry, and the third sector actively engaged in regulation and governance of AI. |
| Keywords: | AI regulation, AI policy, China, European Union, Technology policy, USA |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331266 |
| By: | Assaf Razin |
| Abstract: | This paper investigates the consequences of regime change for both migration and foreign direct investment (FDI) by employing quasi-natural experiments that exploit external and internal shocks to democratic institutions. It compares evidence from Europe, which was afflicted by the “Syrian Shock”—an external institutional stress testing administrative and fiscal capacity—and Israel, which experienced the “Corruption Shock”—an internal credibility crisis that eroded judicial independence and policy predictability. These two shocks provide a natural experiment to examine how weakening democratic institutions influence both capital mobility and people mobility, using a unified econometric framework. The analysis applies Difference-in-Differences (DiD) estimation to OECD panel data spanning 1995–2023 to isolate the causal effects of institutional deterioration on FDI inflows and migration flows. The DiD approach, complemented by fixed effects at the country and year levels, captures both the short-term disruptions caused by exogenous humanitarian pressures and the long-term persistence of governance-driven uncertainty. The results demonstrate that internal shocks—such as Israel’s judicial and corruption crises—generate large and durable declines in FDI and sustained outward migration, while external shocks—such as Europe’s refugee crisis—produce more transient effect. |
| JEL: | D7 H1 |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:34497 |
| By: | Nicolas Baradel |
| Abstract: | In incomplete financial markets, pricing and hedging European options lack a unique no-arbitrage solution due to unhedgeable risks. This paper introduces a constrained deep learning approach to determine option prices and hedging strategies that minimize the Profit and Loss (P&L) distribution around zero. We employ a single neural network to represent the option price function, with its gradient serving as the hedging strategy, optimized via a loss function enforcing the self-financing portfolio condition. A key challenge arises from the non-smooth nature of option payoffs (e.g., vanilla calls are non-differentiable at-the-money, while digital options are discontinuous), which conflicts with the inherent smoothness of standard neural networks. To address this, we compare unconstrained networks against constrained architectures that explicitly embed the terminal payoff condition, drawing inspiration from PDE-solving techniques. Our framework assumes two tradable assets: the underlying and a liquid call option capturing volatility dynamics. Numerical experiments evaluate the method on simple options with varying non-smoothness, the exotic Equinox option, and scenarios with market jumps for robustness. Results demonstrate superior P&L distributions, highlighting the efficacy of constrained networks in handling realistic payoffs. This work advances machine learning applications in quantitative finance by integrating boundary constraints, offering a practical tool for pricing and hedging in incomplete markets. |
| Date: | 2025–11 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2511.20837 |
| By: | Ghislaine Chartron (DICEN-IDF - Dispositifs d'Information et de Communication à l'Ère du Numérique - Paris Île-de-France - UPN - Université Paris Nanterre - Cnam - Conservatoire National des Arts et Métiers [Cnam] - Université Gustave Eiffel) |
| Abstract: | This article emphasizes that data governance is closely linked to strategic objectives and is not an end in itself. Based on various observations, it highlights that data governance rests on several pillars at the political, technical, and organizational levels. It then focuses on the human interactions that contribute to the development of data governance: use cases, collaboration between specialists, and mediation between business units and technical departments. The vision of a centralized, top-down governance model is then deconstructed by other observable dimensions: feedback from the context, differentiation of data scopes, and the defensive or offensive nature of governance. The acceleration of AI-driven projects is also highlighted as a factor that could increase the attention to data governance. |
| Abstract: | Cet article insiste sur le fait que la gouvernance des données est étroitement liée aux objectifs stratégiques, elle n'est pas une fin en soi. A l'appui de différents terrains d'observation, il souligne que la gouvernance des données s'appuie sur certains piliers politique, technique et organisationnel. Il insiste ensuite sur les interactions humaines qui participent au développement d'une gouvernance de données : cas d'usages, collaboration entre spécialistes, médiation entre les métiers et les services techniques. La vision d'une gouvernance centralisée et descendante est ensuite déconstruite par d'autres dimensions observables : rétroaction des terrains, différentiation des périmètres de données, caractère défensif ou offensif de la gouvernance. L'accélération des projets adossés à l'IA est aussi soulignée comme un facteur qui pourrait renforcer l'attention portée à la gouvernance des données. |
| Keywords: | human-data interaction, Strategy, data governance, organization, AI, usage framework, IA, homme-données, cadre d'usage, organisation, gouvernance des données, Stratégie |
| Date: | 2025–11–20 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05380268 |
| By: | Raffaele Miniaci (University of Brescia, Italy); Michele Pezzoni (Université Côte d'Azur, CNRS, GREDEG, France; Observatoire des Sciences et Techniques, HCERES, Paris, France); Sotaro Shibayama (The University of Tokyo, Tokyo, Japan) |
| Abstract: | Exploration is a critical input for creativity and innovation. This paper aims to investigate how the innovator and her team's exploration activities boost the innovator's performance. In our empirical context, the innovator is a French professor at the university, and her team consists of her PhD students. We study 14, 978 research teams, led by an equivalent number of supervisors. Supervisors and students can explore by investigating research subjects that the supervisor has not previously investigated. Moreover, the direction of their exploration can be more or less aligned. We measure exploration by assessing the similarity of students' and supervisors' research documents using text analysis. Our regression analyses find that both supervisors' and students' exploration activities play a role in determining the supervisors' performance, as measured by publication quantity, impact, and novelty. We show that an optimal combination of exploration activities and alignment yields considerably higher supervisor performance compared to the average. Our results support the idea that PhD students' exploration activities are of paramount importance to their supervisors' performance, and that supervisors should pay close attention when assigning students' thesis subjects. |
| Keywords: | Research teams; Student exploration; Supervisor exploration; Scientific performance; Text analysis algorithm; Science of science |
| JEL: | I20 O30 |
| Date: | 2025–12 |
| URL: | https://d.repec.org/n?u=RePEc:gre:wpaper:2025-49 |
| By: | Lata Gangadharan (Department of Economics, Monash University); Pushkar Maitra (Department of Economics, Monash University); Joseph Vecci (Department of Economics, University of Gothenburg, Gothenburg, Sweden); Prakashan Chellattan Veettil (Department of Sustainable Impact, International Rice Research Institute (IRRI), NAS Complex, Pusa Campus, New Delhi); Marie Claire Villeval (CNRS, Université Lumière Lyon 2, Université Jean-Monnet Saint-Etienne, Emlyon Business School, GATE, 35 rue Raulin, F-69007, Lyon, France) |
| Abstract: | This study examines whether adherence to advice depends on an advisor’s identity and status beyond message content. Using a survey experiment with over 3000 farmers in India, we find that individuals are more likely to follow advice in a social dilemma game when it comes from high-status or in-group advisors, even when the advice diverges from prevailing norms. Admired role models can attenuate the influence of status and identity, though their beneficial effect is not universal. Our experimental findings align with evidence from an agricultural advisory program involving the same participant sample, highlighting the broader real-world relevance of these patterns. |
| Keywords: | Advice, Social learning, Status, Group identity, Survey experiment |
| JEL: | C93 D83 D91 O13 Q16 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:gat:wpaper:2526 |
| By: | Ciriani, Stéphane; Jeanjean, François |
| Abstract: | The Draghi (2024) Report defines clear policies to restore the competitiveness of the EU through raising investment in innovation. The Report proposes "New EU Telecom Act" to update merger control through considering both static and dynamic effects rather than just static market shares or Herfindahl Index (HHI). Some authors have argued that Draghi's view on the consolidation's effects on investment is flawed. This article provides a review of the literature on the impact of mergers and mobile market concentration on price, investment, and quality. It also provides evidence that the evolution of mobile markets during the two last decades have changed the ways that mergers affect competition. It provides policy makers with relevant insights to form their views on the desirability of consolidation in the European wireless markets, in a context where the need for a new approach to mergers in the telecom sector has been outlined in the Draghi's report. |
| Keywords: | Competition, Investment, Telecom, Market structure, Mergers |
| JEL: | D25 D43 K21 L40 L51 L63 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331262 |