presse@iwh-halle.de
Pills or puts?
Shuo Xia
Financial Times, February 2, 2024
This paper proposes a difference-in-differences approach for disentangling a total treatment effect on some outcome into a direct impact as well as an indirect effect operating through a binary intermediate variable – or mediator – within strata defined upon how the mediator reacts to the treatment.
This paper considers effects of local public finances on land use. A theoretical analysis explores the trade off faced by a local government deciding about the amount of land made available for commercial use.
Using unique firm-level data across 48 developing countries and 36 manufacturing industries, we gauge the importance of international banks’ presence for promoting entrepreneurship, as measured by business formation.
We analyse whether the increase in trade exposure induced by the rise of China and the transformation of Eastern Europe has been a driver of the severe decline in collective bargaining coverage rates among German establishments from the mid 1990s onwards, which has been identified as a major source of rising wage inequality in Germany.
We show that occasional deviations from efficient wage-setting generate strong and statedependent amplication of exogenous uncertainty shocks and contribute to explain the observed countercyclicality of empirical measures of aggregate uncertainty.
Der Aufschwung in Deutschland und im Euro-Raum setzt sich fort. Für Deutschland rechnet der Sachverständigenrat mit Zuwachsraten des realen Bruttoinlands-produkts von 1,9% im Jahr 2016 und 1,3% im Jahr 2017.
In a meta-analysis of 115 experimental impact evaluations, we find that financial education significantly impacts financial behavior and, to an even larger extent, financial literacy.
We show that temporary place-based subsidies generate persistent effects on economic density. As our design allows us to control for agglomeration economies, we attribute an important role to policy-induced locational advantage (e. g. capital structures) in explaining persistent spatial patterns of economic activity.