People
People Job Market Candidates Doctoral Students PhD Representatives Alumni Supervisors Lecturers Coordinators Job Market Candidates Tommaso Bighelli Job market paper: "The…
See page
DPE Course Programme Archive
DPE Course Programme Archive 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2023 Microeconomics several lecturers winter term 2023/2024 (IWH) Econometrics several…
See page
Lecturers
Lecturers at CGDE Institutions Jordan Adamson Assistant Professor at Institute for Empirical Economic Research, Leipzig University. Website Course: Econometrics (winter term…
See page
Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one of the four research departments (Financial Markets – Laws, Regulations and Factor Markets –…
See page
Evidence-based Support for Adaptation Policies in Emerging Economies
Maximilian Banning, Anett Großmann, Katja Heinisch, Frank Hohmann, Christian Lutz, Christoph Schult
IWH Studies,
No. 2,
2023
Abstract
In recent years, the impacts of climate change become increasingly evident, both in magnitude and frequency. The design and implementation of adequate climate adaptation policies play an important role in the macroeconomic policy discourse to assess the impact of climate change on regional and sectoral economic growth. We propose different modelling approaches to quantify the socio-economic impacts of climate change and design specific adaptations in three emerging market economies (Kazakhstan, Georgia and Vietnam) which belong to the areas that are heavily exposed to climate change. A Dynamic General Equilibrium (DGE) model has been used for Vietnam and economy-energy-emission (E3) models for the other two countries. Our modelling results show how different climate hazards impact the economy up to the year 2050. Adaptation measures in particular in the agricultural sector have positive implications for the gross domestic product (GDP). However, some adaptation measures can even increase greenhouse gas emissions. In addition, the focus on GDP as the main indicator to evaluate policy measures can produce welfare-reducing policy decisions.
Read article
Evidence-based Support for Adaptation Policies in Emerging Economies
Maximilian Banning, Anett Großmann, Katja Heinisch, Frank Hohmann, Christian Lutz, Christoph Schult
Low Carbon Economy,
No. 1,
2023
Abstract
Climate change is increasingly evident, and the design of effective climate adaptation policies is important for regional and sectoral economic growth. We propose different modelling approaches to quantify the socio-economic impacts of climate change on three vulnerable countries (Kazakhstan, Georgia, and Vietnam) and design specific adaptations. We use a Dynamic General Equilibrium (DGE) model for Vietnam and an economy-energy-emission (E3) model for the other two countries. Our simulations until 2050 show that selected adaptation measures, in particular in the agricultural sector, have positive implications for GDP. However, some adaptation measures can even increase greenhouse gas emissions. Focusing on GDP alone can lead to welfare-reducing policy decisions.
Read article
European Real Estate Markets During the Pandemic: Is COVID-19 also a Case for House Price Concerns?
Michael Koetter, Felix Noth
IWH Policy Notes,
No. 3,
2022
Abstract
We use a new database on European real estate purchase and rental prices – the IWH European Real Estate Index – to document the relationship between staggered COVID-19 dynamics and real estate prices in 14 EU countries between January 2020 and December 2021. For most countries, we find no statistically significant response of monthly purchase and rental prices due to an increase of regional COVID-19 cases. For the UK we find that more COVID-19 cases depressed both purchase and rental prices significantly, but the economic magnitude of effects was mild during this sample period. In contrast, rents in Italy increased in response to hiking COVID-19 cases, illustrating the importance to consider heterogeneous crisis patterns across the EU when designing policies. Overall, COVID-19 dynamics did not affect real estate values significantly during the pandemic, thereby mitigating potential financial stability concerns via a mortgage lending channel at the time.
Read article
Power Generation and Structural Change: Quantifying Economic Effects of the Coal Phase-out in Germany
Katja Heinisch, Oliver Holtemöller, Christoph Schult
Energy Economics,
2021
Abstract
In the fight against global warming, the reduction of greenhouse gas emissions is a major objective. In particular, a decrease in electricity generation by coal could contribute to reducing CO2 emissions. We study potential economic consequences of a coal phase-out in Germany, using a multi-region dynamic general equilibrium model. Four regional phase-out scenarios before the end of 2040 are simulated. We find that the worst case phase-out scenario would lead to an increase in the aggregate unemployment rate by about 0.13 [0.09 minimum; 0.18 maximum] percentage points from 2020 to 2040. The effect on regional unemployment rates varies between 0.18 [0.13; 0.22] and 1.07 [1.00; 1.13] percentage points in the lignite regions. A faster coal phase-out can lead to a faster recovery. The coal phase-out leads to migration from German lignite regions to German non-lignite regions and reduces the labour force in the lignite regions by 10,100 [6300; 12,300] people by 2040. A coal phase-out until 2035 is not worse in terms of welfare, consumption and employment compared to a coal-exit until 2040.
Read article
Disentangling Covid-19, Economic Mobility, and Containment Policy Shocks
Annika Camehl, Malte Rieth
IWH Discussion Papers,
No. 2,
2021
Abstract
We study the dynamic impact of Covid-19, economic mobility, and containment policy shocks. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through sign and zero restrictions. Incidence and mobility shocks raise cases and deaths significantly for two months. Restrictive policy shocks lower mobility immediately, cases after one week, and deaths after three weeks. Non-pharmaceutical interventions explain half of the variation in mobility, cases, and deaths worldwide. These flattened the pandemic curve, while deepening the global mobility recession. The policy tradeoff is 1 p.p. less mobility per day for 9% fewer deaths after two months.
Read article
Evolvement of China-related Topics in Academic Accounting Research: Machine Learning Evidence
June Cao, Zhanzhong Gu, Iftekhar Hasan
China Accounting and Finance Review,
No. 4,
2020
Abstract
This study employs an unsupervised machine learning approach to explore the evolution of accounting research. We are particularly interested in exploring why international researchers and audiences are interested in China-related issues; what kinds of research topics related to China are mainly investigated in globally recognised journals; and what patterns and emerging topics can be explored by comprehensively analysing a big sample. Using a training sample of 23,220 articles from 46 accounting journals over the period 1980 to 2018, we first identify the optimal number of accounting research topics; the dynamic patterns of these accounting research topics are explored on the basis of 46 accounting journals to show changes in the focus of accounting research. Further, we collect articles related to Chinese accounting research from 18 accounting journals, eight finance journals, and eight management journals over the period 1980 to 2018. We objectively identify China-related accounting research topics and map them to the stages of China’s economic development. We attempt to identify the China-related issues global researchers are interested in and whether accounting research reflects the economic context. We use HistCite TM to generate a citation map along a timeline to illustrate the connections between topics. The citation clusters demonstrate “tribalism” phenomena in accounting research. The topics related to Chinese accounting research conducted by international accounting researchers reveal that accounting changes mirror economic reforms. Our findings indicate that accounting research is embedded in the economic context.
Read article
