The paper surveys the recent literature on the fiscal implications of central bank balance sheets, with a special focus on political economy issues. It then presents the results of simulations that describe the effects of different scenarios for the Federal Reserve's longer-run balance sheet on...

Risk-free rates have been falling since the 1980s while the return on capital has not. We analyze these trends in a calibrated OLG model with recursive preferences, designed to encompass many of the "usual suspects" cited in the debate on secular stagnation. Declining labor force and...

Studies of intergenerational mobility have largely ignored health despite the central importance of health to welfare. We present the first estimates of intergenerational health mobility in the US by using repeated measures of self-reported health status (SRH) during adulthood from the PSID. Our...

This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...

The evaluation assesses whether the Partnership Instrument (PI) is fit for purpose and effective in delivering resources towards the achievement of the EU's external policy objectives, both at the start of the planning period (2014) and in the period since. The evaluation also considers the...

Basketball is one of the most practised sports in the world, especially in America. America has the most famous professional basketball league, the National Basketball Association (NBA). This study examines whether there is a relationship between the physical constitution of professional...

This study examines the gender wage gap between male and female workers in the US using a cross-section from the Current Population Survey (CPS) It shows that the extent of gender segregation by both industry and occupation is significantly greater than previously supposed. For the wage gap this...

Vor dem Hintergrund tiefgreifender gesellschaftlicher und wirtschaftlicher Veränderungsprozesse ergeben sich zunehmend Herausforderungen für die Unternehmens- und Markenführung. Dabei bestimmen zwei grundlegende Werte die Diskussion und eröffnen ein Spannungsfeld: Individualisierung -...

This study examines the gender wage gap between male and female workers in the US using a cross-section from the Current Population Survey (CPS) It shows that the extent of gender segregation by both industry and occupation is significantly greater than previously supposed. For the wage gap this...

Nach einem halben Jahr im Amt hat die Unsicherheit über Donald Trumps wirtschaftspolitisches Programm ein wenig abgenommen. Bei seiner Wahl hatte ich an dieser Stelle noch argumentiert, das wirtschaftspolitische Programm des künftigen Präsidenten sei 'schemenhaft und widersprüchlich.' Der...

To help shed light on the implications of intergenerational transfers for wealth inequality, this paper uses data for Japan and the United States to examine whether individuals who receive intergenerational transfers from their parents are more likely to leave bequests to their children than...

Der ifo Konjunkturtest für Februar beinhaltete Sonderfragen zu den Erwartungen deutscher Unternehmen bezüglich der Handelspolitik der neuen US-Administration. Die Mehrzahl der befragten Unternehmen erwartet zwar protektionistische Maßnahmen seitens der US-Regierung, befürchtet aber keine...

Johannes Becker und Joachim Englisch, Universität Münster, zeigen in ihrem Kommentar, dass die Steuerreformpläne von Donald Trump zu einer spürbaren Entlastung aller Steuerzahler, aber vor allem bei eigentümergeführten Unternehmen und Erben führen werden. Die Wachstumseffekte der Reform...