1. ZEW-Finanzmarktreport // 2025

    Januar 2025

    • Zweites Rezessionsjahr in Folge lässt Konjunkturerwartungen sinken
    • Eurozone: Steigende Inflationserwartungen bei skeptischen Zinserwartungen
    • USA: Stabilität trotz politischer Unsicherheit
    • China:…
  2. Refereed Journal // 2025

    State-owned enterprises, fiscal transparency, and the circumvention of fiscal rules: The case of Germany

    State-owned enterprises (SOEs) provide opportunities for a more flexible and market-based provision of public services. At the same time, they may impair fiscal transparency and offer politicians discretion in…

  3. ZEW Discussion Paper No. 25-003 // 2025

    Invitation Messages for Business Surveys: A Multi-Armed Bandit Experiment

    This study investigates how elements of a survey invitation message targeted to businesses influence their participation in a self-administered web survey. We implement a full factorial experiment varying five…

  4. ZEW Discussion Paper No. 25-002 // 2025

    Gritty Peers

    We use the National Longitudinal Study of Adolescent to Adult Health to explore how high school peers’ grit, a personality trait characterized by perseverance and passion, influences long-term outcomes…

  5. ZEW Discussion Paper No. 25-001 // 2025

    Innovation Performance Through Collaborations with Public Research Organizations: Conducting and Signaling Mechanisms

    We explore the association between signaling and conducting innovation collaborations with public research organizations and firms’ revenues from firm and market novelties. Based on data from the German…

  6. Refereed Journal // 2025

    International Trade and the Transmission of Temperature Shocks

    We examine how the adverse impacts of weather shocks are distributed through the trade network. Exploiting a rich, theoretically derived, fixed effects structure, we find significant negative short-run effects…

  7. ZEW policy brief No. 25-01 // 2025

    Zukunftsquote im Bundeshaushalt 2024: Neuer Höchstwert für den Gesamthaushalt bei Rückschlag im Kernhaushalt

    Der Bundeshaushalt muss Zukunftsinvestitionen stärker priorisieren. Darüber besteht in der Theorie ein weit reichender Konsens. In der haushaltspolitischen Praxis ist es hingegen schwierig, dieses Ziel…

  8. Refereed Journal // 2025

    Evidence-based policy or beauty contest? An LLM-based meta-analysis of EU cohesion policy evaluations

    Independent and high-quality evaluations of government policies are an important input for designing evidence-based policy. Institutional frictions and lack of incentives to write such evaluations, on the other…

  9. Refereed Journal // 2025

    The Big Sell: Privatizing East Germany's Economy

    Departing from communism, East Germany witnessed history’s most extensive privatization program. While the program sparked global interest as a blueprint for economic transformation, its effectiveness remains…

  10. Refereed Journal // 2025

    Willingness to volunteer among remote workers is insensitive to the team size

    Volunteering is a widespread allocation mechanism in the workplace. It emerges naturally in software development or the generation of online knowledge platforms. Using a field experiment with more than 2,000…