Mindestlohnbeschäftigte: Dienstleister für den privaten Konsum oder Teilhaber am Exporterfolg? Ergebnisse einer Input-Output-Analyse
Im Jahr 2014 waren mehr als 38 Mio. Personen in Deutschland als Arbeitnehmer beschäftigt. Sie produzierten vor allem Güter für den Konsum, für Investitionen in Ausrüstungen und Bauten sowie den Export, aber auch Vorleistungsgüter, die als Bestandteil der Wertschöpfungsketten indirekt in deren Entstehung eingingen. Hier ist wirtschafts- und lohnpolitisch interessant, in welchen quantitativen Verhältnissen der Einsatz der Beschäftigten in der Vorleistungsgüterproduktion zur Endverwendung im Wirtschaftskreislauf steht. Dieses Interesse richtet sich nicht nur auf die Personenzahl, sondern im Besonderen auch auf deren Entlohnung. Ein Augenmerk liegt dabei bei den Beschäftigten, deren Löhne 2014 dem Mindestlohn 2015 (8,50 Euro) entsprachen.
Banks Response to Higher Capital Requirements: Evidence from a Quasi-natural Experiment
Review of Financial Studies,
We study the impact of higher capital requirements on banks’ balance sheets and their transmission to the real economy. The 2011 EBA capital exercise is an almost ideal quasi-natural experiment to identify this impact with a difference-in-differences matching estimator. We find that treated banks increase their capital ratios by reducing their risk-weighted assets, not by raising their levels of equity, consistent with debt overhang. Banks reduce lending to corporate and retail customers, resulting in lower asset, investment, and sales growth for firms obtaining a larger share of their bank credit from the treated banks.
Spatial Development Patterns in East Germany and the Policy to Maintain “Industrial Cores”
H.-G. Jeong, G. Heimpold (Hrsg.), Economic Development after German Unification and Implications for Korea. Policy References 18-08. Sejong: Korea Institute for International Economic Policy,
This paper investigates the intra-regional development patterns in East Germany with particular reference to the manufacturing sector. When East Germany’s economy was ruled by the central planning regime, the share of industrial workforce in total employment was the greatest in entire Europe. It exceeded the respective value in the Soviet Union at that time. When the transition from a centrally planned economy to a market economy occurred, the East German manufacturing sector faced the greatest challenges.
May the Force Be with You: Exit Barriers, Governance Shocks, and Profitability Sclerosis in Banking
Deutsche Bundesbank Discussion Paper,
We test whether limited market discipline imposes exit barriers and poor profitability in banking. We exploit an exogenous shock to the governance of government-owned banks: the unification of counties. County mergers lead to enforced government-owned bank mergers. We compare forced to voluntary bank exits and show that the former cause better bank profitability and efficiency at the expense of riskier financial profiles. Regarding real effects, firms exposed to forced bank mergers borrow more at lower cost, increase investment, and exhibit higher employment. Thus, reduced exit frictions in banking seem to unleash the economic potential of both banks and firms.
13.12.2018 • 21/2018
Economic activity in the world and in Germany is losing momentum
In the second half of 2018, the upturn of the German economy has stalled. Production of the automotive industry declined because of delays in switching production to WLTP compliant cars. Irrespectively of this, the German export business has been weakening since the beginning of the year, since the global economy, burdened by the political uncertainties surrounding trade conflicts, the impending Brexit and the conflict over the Italian budget, was unable to keep up with the high momentum of 2017. “It is to be expected that the less benign external environment will not only dampen exports, but will also impact on companies’ investment and hiring decisions”, says Oliver Holtemöller, head of the Department Macroeconomics and vice president at Halle Institute for Economic Research (IWH). Gross domestic product is expected to increase by 1.5% in 2018 and by 1.4% in 2019, which is roughly equal to the growth rate of economic capacity in Germany.
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Reports of the European Forecasting Network (EFN)
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Gross domestic product
Gross domestic product Gross domestic product (GDP) includes the value of all goods and services produced in an economic area during a specific period of time. It is ...
Stock of fixed assets
Stock of fixed assets Gross fixed capital formation Gross fixed capital formation includes the purchase of permanent and reproducible fixed assets as well as created...
Income and savings
Income and savings Primary income of the private households The primary income of the private households (including private non-profit organisations) includes the income...