This AER paper shows that negative news about future oil supply raises oil prices, reduces global production, and lowers global industrial activity. It also hurts the U.S. economy: output falls, inflation rises, unemployment increases, stocks drop, and the dollar depreciates.
Link to the paper: www.aeaweb.org/articles?id=...
Free-access version: dkaenzig.github.io/diegokaenzig...
This AER paper shows that negative news about future oil supply raises oil prices, reduces global production, and lowers global industrial activity. It also hurts the U.S. economy: output falls, inflation rises, unemployment increases, stocks drop, and the dollar depreciates.
Ich verstehe deinen Punkt und halte deine Betrachtung für noch aussagekräftiger, aber Chart-Crime ist der EZB-Chart keiner.
Global export market shares of the €zone (-30% since 2010) and the US (-6%) have fallen, China's global export market share has risen sharply (+45%).
Sehe den Chart-Crime nicht. Es ist ja sehr klar ersichtlich, dass es sich um die Prozentänderung im globalen Exportanteil gegenüber dem Basisjahr 2010 handelt.
Source: www.ecb.europa.eu/press/key/da...
Global export market shares of the €zone (-30% since 2010) and the US (-6%) have fallen, China's global export market share has risen sharply (+45%).
Europeans live longer than Americans, despite spending less on healthcare.
Source: www.ecb.europa.eu/pub/pdf/anne...
Europeans live longer than Americans, despite spending less on healthcare.
The rally in European benchmark natural gas prices remains far from the extreme levels seen in 2022. Prices peaked at €340/MWh, compared with around €53/MWh currently.
The rally in European benchmark natural gas prices remains far from the extreme levels seen in 2022. Prices peaked at €340/MWh, compared with around €53/MWh currently.
Germany has maintained low levels of public investment over the past decades.
Source: www.ecb.europa.eu/press/key/da...
Germany has maintained low levels of public investment over the past decades.
Fiscal consolidation lowers real output, raises the unemployment rate and increase income inequality. Contractionary effects stronger during recessions; supports the Keynesian view that periods of weakness are not suitable for consolidation efforts. Blog summary of our research:
Fiscal consolidation lowers real output, raises the unemployment rate and increase income inequality. Contractionary effects stronger during recessions; supports the Keynesian view that periods of weakness are not suitable for consolidation efforts. Blog summary of our research:
Link to paper in "IMF Economic Review": link.springer.com/article/10.1...
Free-access version: www.kurtmitman.com/files/Oil.pdf
Timely paper on the distributional effects of oil price shocks amid recent Middle East events. Using 45 years of German data, it shows a 10% oil price rise reduces earnings growth of bottom-decile workers by ~2pp after two years, while top-decile workers are barely affected.
New paper on China’s solar subsidies (2004–20): clean energy industrial policy can boost growth and cut emissions. Innovation & production subsidies drove patents, new firms, output, exports. Demand subsidies cut pollution but did less for growth. Social benefits > subsidy costs.
Link to NBER Working Paper: www.nber.org/papers/w3489...
Free-access: ignaciobanares.com/solar.pdf
New paper on China’s solar subsidies (2004–20): clean energy industrial policy can boost growth and cut emissions. Innovation & production subsidies drove patents, new firms, output, exports. Demand subsidies cut pollution but did less for growth. Social benefits > subsidy costs.
This new QJE paper concludes that the macroeconomic costs of climate change are far greater than earlier estimates suggested. It finds that a 1°C rise in global temperatures reduces world GDP by over 20%.
Link to the paper: academic.oup.com/qje/advance-...
Free-access version: www.nber.org/system/files...
This new QJE paper concludes that the macroeconomic costs of climate change are far greater than earlier estimates suggested. It finds that a 1°C rise in global temperatures reduces world GDP by over 20%.
New evidence that landlords have pricing power. Using building-specific tax shocks, this paper shows that when a building’s costs rise, its rents rise too, even if overall market rents don’t, i.e. landlords aren’t just price takers.
Link to the paper in "Review of Economics and Statistics": direct.mit.edu/rest/article...
Free-access version: clukewatson.github.io/research/tfp...
