The global economic order is undergoing a fundamental transformation, characterized by growing competition between China, Europe, and the United States, and a shift from a rules-based to a more power-based system. Geopolitical considerations now increasingly dictate policy decisions and the...

“Macro Policies in Turbulent Times” – #KKG107 takes a closer look at key issues in monetary and fiscal affairs. Macroeconomically, the recent years have been turbulent times indeed. Both the pandemic as well as the energy crisis brought about new challenges for monetary and fiscal...

If sectoral trade flows obey structural gravity, countries’ bilateral trade imbalances are the result of macro trade imbalances, “triangular trade”, or pairwise asymmetric trade barriers. Using data for 40 major economies and the Rest of the World, we show that large and pervasive...

Official Development Assistance (ODA) and other state-financed development projects are promoted as means to reduce the migratory flows from developing countries. We test whether international development projects affect migration aspirations, plans, and the onset of concrete migration...

The COVID-19 outbreak has cut China's supply of and raised the world's demand for face masks, disinfectants, ventilators, and other critical medical goods. This article studies the economic and political factors that are associated with China's exports of medical equipment during the first two...

Die poten­zielle Rolle der Finanz- und Kapital­märkte bei der Ein­dämmung des Klima­wandels beschäftigt jüngst immer mehr staat­liche und nicht-staatliche Stellen. Wie Deutsch­land, legten viele Länder nationale Sustainable-Finance-Strategien vor. Ein Klassi­fizierungs­systems der...

Der Sommer 2021 in Deutsch­land hat bewusst gemacht, wovor die Wissen­schaft seit Langem warnt: Extreme Wetter­ereig­nisse, wie Stark­regen, Dürren und Über­schwem­mungen, werden aufgrund des Klima­wandels zu­nehmen. Sie führen zu erhöhten Ernte­risiken für die deutsche...

Populist parties and actors now govern various countries around the world. Often elected by the public in times of crises and over the perceived failure of ‘the elites’, the question stands as to how populist governments actually perform once elected, especially in times of crisis. Using the...

How do commodity price movements affect sovereign default risk over the long-run? Using a novel dataset covering 41 countries and 42 raw commodities, we take a comprehensive long-run view to shed light on this so far understudied relationship between commodity risk and sovereign risk across 150...

Die Herbert Giersch Stiftung fördert die wirtschaftswissenschaftliche Forschung, Lehre und Diskussion, insbesondere auf dem Gebiet der internationalen Wirtschaftsbeziehungen und der weltwirtschaftlichen Entwicklung. Programm: - Festvortrag: The Future of Globalization; - Wo stehen wir?...