<?xml version="1.0" encoding="UTF-8"?>
<rss xmlns:dc="http://purl.org/dc/elements/1.1/" version="2.0">
  <channel>
    <title>EconStor Collection:</title>
    <link>https://hdl.handle.net/10419/281418</link>
    <description />
    <pubDate>Thu, 30 Apr 2026 06:34:05 GMT</pubDate>
    <dc:date>2026-04-30T06:34:05Z</dc:date>
    <item>
      <title>Caught in Geopolitical Fragmentation: How to De-risk Germany's Economic Model</title>
      <link>https://hdl.handle.net/10419/281432</link>
      <description>Title: Caught in Geopolitical Fragmentation: How to De-risk Germany's Economic Model
Authors: de Quant, Sebastian; Tordoir, Sander; Vallée, Shahin
Abstract: Stagnating globalisation, the possible weaponisation of dependencies by autocracies, and US-China tensions threaten to disrupt Germany's export-driven economic model. But German efforts to 'derisk' that model remain underdeveloped, as does its policy toolkit. Germany's most important trade relationship is with China. Germany's import, export and investment exposure to an increasingly mercantilist and possibly aggressive China pose considerable risk to its comparative advantage and security. But the range of policy-levers required to address these- such as export controls or industrial policy - needs upgrading. Given Germany's deep integration into the European economy, they also need to be defined much more consistently across the state, federal, and EU level. Successfully managing China-related risks can serve as a template for an integrated EU de-risking policy toolkit to make Germany's model more resilient.</description>
      <pubDate>Mon, 01 Jan 2024 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/281432</guid>
      <dc:date>2024-01-01T00:00:00Z</dc:date>
    </item>
    <item>
      <title>Transformative Investitionen als Treiber eines neuen Wirtschaftsbooms?</title>
      <link>https://hdl.handle.net/10419/281431</link>
      <description>Title: Transformative Investitionen als Treiber eines neuen Wirtschaftsbooms?
Authors: Krebs, Tom
Abstract: Die vorliegende Studie untersucht die Wachstumseffekte öffentlicher Investitionen in die sozial-ökologische Transformation von Wirtschaft und Gesellschaft. Die Analyse zeigt, dass eine drastische Ausweitung der öffentlichen Klima- und Sozialinvestitionen in Deutschland einen Wirtschaftsboom auslösen und gleichzeitig die Transformation zur Klimaneutralität unterstützen kann. In einem Positiv-Szenario ist mit jährlichen Wachstumsraten von bis zu drei Prozent über einen längeren Zeitraum zu rechnen. In diesem Sinne ist ein grünes Wirtschaftswunder möglich. Dieses Positiv-Szenario wird jedoch nur Wirklichkeit werden, wenn die öffentliche Hand die Klima- und Sozialinvestitionen drastisch erhöht - dauerhaft um rund zwei Prozent des BIPs. Ebenso möglich ist ein Negativ-Szenario, in dem die deutsche Wirtschaft über mehrere Jahre kaum wächst. Ein solches Stagnationsszenario wird mit hoher Wahrscheinlichkeit eintreten, wenn die Bundesregierung an ihrer aktuellen Finanzpolitik festhält und so eine wachstumstreibende Investitionsoffensive verhindert.</description>
      <pubDate>Mon, 01 Jan 2024 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/281431</guid>
      <dc:date>2024-01-01T00:00:00Z</dc:date>
    </item>
    <item>
      <title>Can price controls be optimal? The economics of the energy shock in Germany</title>
      <link>https://hdl.handle.net/10419/289819</link>
      <description>Title: Can price controls be optimal? The economics of the energy shock in Germany
Authors: Krebs, Tom; Weber, Isabella
Abstract: In the wake of the global energy crisis, many European countries used energy price controls to fight inflation and to stabilize the economy. Despite its wide adoption, many economists remained skeptical. In this paper, we argue that price controls should be part of the policy toolbox to respond to shocks to systemically important sectors because not using them can have large economic and political costs. We put forward our arguments in two steps. In a first step, we analyze the impact on the German economy and society of the global energy crisis that followed Russia's attack on Ukraine in February 2022. Our analysis shows that energy shocks matter. Specifically, the one-year GDP loss of the energy crisis 2022 amounts to 4 percent and is comparable to the short-run output losses during the COVID-19 crisis 2020 and the global financial crisis 2008. In addition, during the energy crisis 2022 inflation rates rose dramatically and real wages dropped more than in any other year in postwar Germany. There are also clear signs that the crisis is causing severe long-term economic damage (hysteresis effects). At the beginning of 2024, GDP is 7 percent and real wages are 10 percent below the pre-COVID-19 trend. We argue that the German government handled the immediate response to the energy shock well, but subsequently waited too long to introduce an energy price brake in 2022. This failure to act decisively in response to heightened economic insecurity coincided with a strong rise of the approval rates of the far-right AfD in the summer of 2022. We also show that the German energy price brake was an effective price stabilization policy for households, but did not protect the industrial base appropriately making it more likely that the German economy will continue to stagnate. In a final step, we turn to the use of price controls as an optimal policy response to an energy shock within a general equilibrium framework. We develop a simple production model with an energy sector and shows that price controls are socially optimal whenever self-fulfilling expectations generate endogenous price uncertainty in the wake of an energy shock. We also link our analysis to the so-called sunspot literature that was developed in the 1980s as a response to the rational-expectations revolution in macroeconomics. Finally, we use our theoretical analysis to shed some light on the economic policy debate and the resistance of German mainstream economists to the introduction of energy price controls in 2022.</description>
      <pubDate>Mon, 01 Jan 2024 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/289819</guid>
      <dc:date>2024-01-01T00:00:00Z</dc:date>
    </item>
    <item>
      <title>Towards a new paradigm: The inflation shock as a catalyst?</title>
      <link>https://hdl.handle.net/10419/289820</link>
      <description>Title: Towards a new paradigm: The inflation shock as a catalyst?
Authors: Creel, Jérôme; Geerolf, François; Levasseur, Sandrine; Ragot, Xavier; Saraceno, Francesco
Abstract: During the recent inflation episode, the paradigm of separated objectives for monetary and fiscal policies has shown some limits. Fiscal policies have helped mitigate inflation. We advocate for the emergence of a new paradigm that gives equal consideration to fiscal and monetary policies and their interactions. These interactions and their respective spillover effects demand better political coordination and a good dose of pragmatism, in contrast with the binding rules embedded in the separation paradigm so present in the European governance framework. The latter should give more leeway to supply-driven fiscal policies and learn from the US experience.</description>
      <pubDate>Mon, 01 Jan 2024 00:00:00 GMT</pubDate>
      <guid isPermaLink="false">https://hdl.handle.net/10419/289820</guid>
      <dc:date>2024-01-01T00:00:00Z</dc:date>
    </item>
  </channel>
</rss>

