We exploit a large reform of capital-gains taxation in Germany combined with portfolio-level daily panel data to study the causal effect of taxes on individual stock-trading behavior and the disposition effect.…
Recent papers show that the all-pay auction is better at raising money for charity than the first-price auction with symmetric bidders under incomplete information. Yet, this result is lost with sufficiently…
Knowledge-based capital is a key factor for productivity growth. Over the past 15 years, it has been increasingly recognised that knowledge-based capital comprises much more than technological knowledge and that…
European banks are exposed to a substantial amount of risky sovereign debt. “Missing capital” in the banking system resulting from the zero-risk weight exemption for European sovereign debt amplifies the…
School closures are one of the measures taken to combat COVID-19. By restricting social contact, closures contribute to the containment of infection chains. However, such measures have side effects that…
The Federal Programme "Social Inclusion in the Labour Market" aimed to improve the social inclusion of long-term benefit recipients of the SGB II who were far from the labour market and who either lived with…
Contributions to Edited Volumes and Conference Proceedings
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2020
The COVID-19 pandemic and the socially distanced economy reveal longstanding inequalities that have been growing wider and wider for decades. This Policy Brief summarizes and contextualizes some of the main…
