People
People Doctoral Students PhD Representatives Alumni Supervisors Lecturers Coordinators Doctoral Students Afroza Alam (Supervisor: Reint Gropp ) Julian Andres Diaz Acosta…
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Macro data interactive
Macro data interactive This service provides time series from official publications (Statistisches Bundesamt [German Federal Statistical Office], Arbeitskreis Volkswirtschaftliche…
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IWH Macrometer
IWH Macrometer Macroeconomic Database for the German Länder, East and West Germany The data offered by the IWH Macrometer consists of two parts: (1) interactive macro data and (2)…
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Climate Stress Tests, Bank Lending, and the Transition to the Carbon-Neutral Economy
Larissa Fuchs, Huyen Nguyen, Trang Nguyen, Klaus Schaeck
SSRN Working Papers,
No. 4427729,
2023
Abstract
Does banking supervision affect borrowers’ transition to the carbon-neutral economy? We use a unique identification strategy that combines the French bank climate pilot exercise with borrowers’ carbon emissions to present two novel findings. First, climate stress tests actively facilitate borrowers’ transition to a low-carbon economy through a lending channel. Stress-tested banks increase loan volumes but simultaneously charge higher interest rates for brown borrowers. Second, additional lending is associated with some improvements in environmental performance. While borrowers commit more to reduce carbon emissions and are more likely to evaluate environmental effects of their projects, they neither reduce direct carbon emissions, nor terminate relationships with environmentally unfriendly suppliers. Our findings establish a causal link between bank climate stress tests and borrowers’ reductions in transition risk.
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Economic Outlook
Joint Economic Forecast Autumn 2024 German economy in transition ‒ weak momentum, low potential growth September 26, 2024 The Joint Economic Forecast Project Group forecasts a…
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28.09.2023 • 25/2023
The downturn in 2023 is milder in East Germany than in Germany as a whole – Implications of the Joint Economic Forecast Autumn 2023 and of Länder data from recent publications of the Statistical Offices
The German economy has been in a downturn for more than a year. In East Germany, however, the economy has been somewhat stronger in the past four quarters: According to the Halle Institute for Economic Research (IWH), East German gross domestic product (GDP) is expected to increase by 0.5% in 2023, while production in Germany as a whole will fall by 0.6%. Next year, expansion rates of 1.3% are forecast in both the east and the west. For 2025, East German gross domestic product is expected to grow by 1.2%, which is slightly slower than in Germany as a whole (1.5%).
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Centre for Evidence-based Policy Advice
Centre for Evidence-based Policy Advice (IWH-CEP) The Centre for Evidence-based Policy Advice (IWH-CEP) of the IWH was founded in 2014. It is a platform that bundles and…
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Internationalisation
Internationalisation The Leibniz Institute for Economic Research Halle (IWH) is responsible for economic research and economic policy advice on a scientific basis. The institute…
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07.09.2023 • 23/2023
The German economy continues its downturn
High inflation, increased interest rates, weak foreign demand and uncertainty among private households and firms are currently weighing on the German economy. In its autumn forecast, the Halle Institute for Economic Research (IWH) expects gross domestic product (GDP) to decline by 0.5% in 2023 and to increase by 0.9% in 2024.
Oliver Holtemöller
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Konjunktur aktuell: Deutschland weiter im Abschwung
Konjunktur aktuell,
No. 3,
2023
Abstract
Die Weltwirtschaft verliert im Herbst 2023 weiter an Schwung. Die Produktion im Verarbeitenden Gewerbe und der globale Warenhandel stagnieren, gestiegene Leitzinsen verschlechtern das Investitionsklima. Die restriktive Wirtschaftspolitik drückt vor allem die europäische Konjunktur, welche zusätzlich von der Unsicherheit durch den russischen Angriffskrieg belastet wird. In Deutschland belasten die hohe Inflation, gestiegene Zinsen, eine schwache Auslandsnachfrage und Verunsicherung unter privaten Haushalten und Unternehmen die Wirtschaft. Die konjunkturellen Risiken sind für die Bauwirtschaft besonders hoch. Alles in allem dürfte das Bruttoinlandsprodukt 2023 um 0,5% zurückgehen, für das kommende Jahr wird ein Zuwachs von 0,9% prognostiziert.
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