1. ZEW Discussion Paper Nr. 25-056 // 2025

    Holy Days, Lost Days?

    Do public holidays meaningfully affect economic output? In Germany, strict Sunday laws create a unique natural experiment: when public holidays fall on Sundays, they typically do not additionally disrupt…

  2. ZEW Discussion Paper Nr. 25-054 // 2025

    The Demand for Economic Narratives

    Economic narratives are pervasive in the public discourse and can shape individual behavior. But so far we know very little about whether households actually demand and value narratives as information. We…

  3. ZEW Discussion Paper Nr. 25-053 // 2025

    OECD Pillar Two Compliance Costs: A Quantitative Assessment for EU-Headquartered Groups

    This study examines the compliance costs of OECD Pillar Two, i.e., the “Global Minimum Tax,” for multinational enterprises headquartered in the European Union. Collecting data from chief financial officers and…

  4. ZEW Discussion Paper Nr. 25-055 // 2025

    The Anatomy of U.S. Sick Leave Schemes: Evidence From Public School Teachers

    We study how public school teachers use paid sick leave. Most US sick leave schemes operate as individualized credit accounts: Paid leave is earned, and unused leave accumulates. We construct a unique dataset of…

  5. ZEW Discussion Paper Nr. 25-049 // 2025

    Human Capital, Unequal Opportunities and Productivity Convergence: A Global Historical Perspective, 1800–2100

    This paper constructs a new global historical database on public expenditure and revenue and their components—particularly education and health expenditure—covering all world regions over the 1800-2025 period.…

  6. ZEW-Finanzmarktreport // 2025

    Oktober 2025

    • Hoffnung auf Aufschwung bleibt intakt, Lage verschlechtert sich weiter
    • Eurozone: Konjunkturstimmung bleibt weitgehend stabil
    • USA: Lageindikator im Plus; Erwartungen aufgehellt, Zinserwartungen steigen
    • China:…
  7. ZEW policy brief Nr. 25-11 // 2025

    Catalysts for Change: Can Green Bonds Accelerate Europe’s Transition to a Green Economy?

    Nearly two decades of green bond issues have ignited various research questions and fields surrounding the topic. It is therefore time to take stock. Green bonds were launched with the goal of greening the…

  8. ZEW Discussion Paper Nr. 25-051 // 2025

    Televised Inflation: Measuring TV News Coverage and Its Effect on Household Expectations

    This paper introduces a novel TV news index specifically designed to track coverage of rising inflation across major US TV channels: ABC, CBS, CNN, and Fox News. The index is generated daily and aggregated into…