We investigate the impact of immigration on public budgets using administrative data from German districts (Kreise). While previous literature suggests that the fiscal benefits of migration depend on government spending responses to immigration, the local-level effects in Germany remain...

Return migration intentions are complex and are not necessarily followed by future return migration. Our study compares successful return or repeated migration with self-declared return intentions. We take advantage of the latest German Socio-Economic Panel survey dropout studies and fieldwork...

Return migration intentions are complex and are not necessarily followed by future return migration. Our study compares successful return or repeated migration with self-declared return intentions. We take advantage of the latest German Socio-Economic Panel survey dropout studies and fieldwork...

This study quantifies the direct average net fiscal impact (ANFI) of migration in Germany, taking into account both indirect taxes and in-kind benefits such as health and education spending. Using a status quo approach with data from the German Socio-Economic Panel (SOEP) for 2018 and...

Standard panel unit root tests (PURTs) are not robust to breaks in innovation variances. Consequently, recent papers have proposed PURTs that are pivotal in the presence of volatility shifts. The applicability of these tests, however, has been restricted to cases where the data contains only an...

This paper revisits the monetary policy asset price nexus employing a novel identification approach for structural VARs in a framework of non-Gaussian independent shocks. This allows us to remain “agnostic” about the contemporaneous relations between the variables. We provide empirical...

High levels of carbon emissions and rising income inequality are interconnected challenges for the global society. Commonly-applied linear regression models fail to unravel the complexity of potential bi-directional transmission channels. Specifically, consumption, energy sources and the...

We study the links between financial uncertainty, economic activity, and both conventional and unconventional monetary policies. To disentangle the effects of conventional policies from unconventional ones, we introduce a new identification method that exploits non-Gaussian characteristics of...

This paper revisits the monetary policy asset price nexus employing a novel identification approach for structural VARs in a framework of non-Gaussian independent shocks. This allows us to remain "agnostic" about the contemporaneous relations between the variables. We provide empirical evidence...

Standard panel unit root tests (PURTs) are not robust to breaks in innovation variances. Consequently, recent papers have proposed PURTs that are pivotal in the presence of volatility shifts. The applicability of these tests, however, has been restricted to cases where the data contains only an...