Halle Institute for Economic Research
German economy on a recovery path – Tailwinds from the global economy and fiscal policy An increase in foreign demand has put the German economy on a recovery path in the first…
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Real Estate Transaction Taxes and Credit Supply
Michael Koetter, Philipp Marek, Antonios Mavropoulos
Journal of Financial Stability,
Vol. 80 (September),
2025
Abstract
We exploit staggered real estate transaction tax (RETT) hikes across German states to identify the effect of house price changes on mortgage credit supply. Based on approximately 33 million real estate online listings, we construct a quarterly hedonic house price index (HPI) between 2008:q1 and 2017:q4, which we instrument with state-specific RETT changes to isolate the effect on mortgage credit supply by all local German banks. First, a RETT hike by one percentage point reduces HPI by 1.2%. This effect is driven by listings in rural regions. Second, a 1% contraction of HPI induced by an increase in the RETT leads to a 1.4% decline in mortgage lending. This transmission of fiscal policy to mortgage credit supply is effective across almost the entire bank capitalization distribution.
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Assistant Professor (W1) in Financial Economics
Job Vacancy Assistant Professor (W1) in Financial Economics The Faculty of Economics and Management of Otto von Guericke University Magdeburg (OvGU) in cooperation with the Halle…
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Lecturers
Lecturers Lars Börner Professor of Economics at Martin Luther University Halle-Wittenberg. Website Kamila Cygan-Rehm Professor of Quantitative Methods, esp. Econometrics at the…
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Policy Output
Reports › CompNet’s flagship and special reports provide in-depth, data-driven analysis on productivity, competitiveness, and related economic trends, using the latest CompNet…
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Centre for Business and Productivity Dynamics
Centre for Business and Productivity Dynamics (IWH-CBPD) The Centre for Business and Productivity Dynamics (CBPD) was founded in January 2025 and works with policy and research…
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Who is Using Robots in Germany?
Verena Plümpe
IFR International Federation of Robotics,
Member blog - Jul 09
2025
Abstract
IFR statistics show that Germany has consistently been a global top 5 robotics market for many years. They also provide distribution by industry. But what it does not show is who exactly is installing these robots and what distinguishes a robot user from a non-user. Data collected from nearly 16,000 plants by the Institute for Employment Research (IAB) of the Federal Employment Agency helps us to learn more about robot users in Germany.
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Research for the Labour Market of Tomorrow
Rafael Barth
Wirtschaft im Wandel,
No. 2,
2025
Abstract
The economic transformation is visibly reshaping the world of work. At the Halle Institute for Economic Research (IWH), the Structural Change and Productivity Department will intensify its analysis of these developments – and is evolving in the process. A high-profile conference with an unusual format recently provided important momentum.
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Kalifornische Inspirationen
Simon Wiederhold
Wirtschaft im Wandel,
No. 2,
2025
Abstract
Wissenschaft lebt vom Austausch kluger Köpfe über Grenzen hinweg. IWH-Ökonom Simon Wiederhold hat vier Wochen an der Stanford University geforscht. Einblicke in eine höchst anregende Erfahrung.
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Centre for Evidence-based Policy Advice
Centre for Evidence-based Policy Advice (IWH-CEP) The Centre for Evidence-based Policy Advice (IWH-CEP) of the IWH was founded in 2014. It is a platform that bundles and…
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