New Research Publications (forthcoming)
Dovern, J., Jannsen, N. Systematic Errors in Growth Expectations over the Business Cycle. International Journal of Forecasting, forthcoming.
Nunnenkamp, P. Biased Arbitrators and Tribunal Decisions Against Developing Countries: Stylized Facts on Investor-state Dispute Settlement. Journal of International Development, forthcoming.
Tesfaselassie, M.F., Wolters, M. The Impact of Growth on Unemployment in a Low vs. a High Inflation Environment. Review of Economic Dynamics, forthcoming.
Höckel, L.S., Santos Silva, M., Stöhr, T. Can Parental Migration Reduce Petty Corruption in Education? World Bank Economic Review, forthcoming.
Bauer, T.-K., Braun, S.T., Kvasnicka. Nuclear Power Plant Closures and Local Housing Values. Journal of Urban Economics, forthcoming.
The International Economy and International Economic Policy
Program 1, The International Economy and International Economic Policy, deals with the causes and consequences of a growing integrated world economy. It aims at a better understanding of the changing roles of certain tasks and skills, sectors, and regions in the structure of output and employment of a dynamic world economy. A new focus is on the impact of social interaction and behavioral responses of relevant actors on the emergence of global economic problems.
Economic Policies for Sustainable Development
Program 2 focuses on two major aspects of sustainable development, namely global climate and environmental issues and strategies for poverty reduction in developing countries. Since globalization appears to weaken many traditional economic institutions and policy instruments, new policy approaches at both the national and the supra-national level are needed. Specific research projects concentrate on policy fields where the impact of globalization has been particularly strong. Examples include the complex interaction of energy demand, the supply of exhaustible fossil energy and climate goals; the environmental consequences of increasing global trade and investment flows, the role of rural development in reducing poverty, and the allocation and effectiveness of foreign aid.
Program 3 studies sources and consequences of macroeconomic fluctuations and instability of the financial sector as well as the repercussions of macroeconomic shocks and dysfunctions of financial markets on the welfare system. Topics of particular interest include the effectiveness of monetary policy with imperfect commodity and labor markets; the identification, measurement, and forecasting of risk and volatility in the financial sector in light of the complex structure of interactions between various types of market participants; and the challenges for reform policies in the welfare society arising from changes in macroeconomic structures, demographic shifts, and a closer global economic integration.