External publications include all articles by IW scientists that have appeared in external scientific journals, books or as outstanding guest contributions (offline or online).
Given the global trend in corporate saving over the last decades, the COVID-19 crisis raises doubts about the persistence of companies’ saving behaviour due to the losses which have occurred in many companies caused by the isolation of households and by lockdowns.
The lasting economic impact of the coronavirus pandemic will become apparent in the development of the macroeconomic factors of production – labour, capital, human capital as well as the stock of technical knowledge.
It's true: the U.S. national debt and current account deficit continue to rise – the domestic savings rate was -1.2 percent in the second quarter of 2020. The dollar's share in global foreign exchange reserves has fallen by over 10 percentages points since 2000 to below 6 percent.
At the beginning of this year, the European Central Bank (ECB) launched a new strategy review, with two of the key pillars of this review focusing on its communication strategy and how monetary policy can address climate change. Markus Demary and Michael Hüther argue the ECB should prioritise communicating with social groups unfamiliar with monetary policy and should take a responsive, but not activist, approach to climate change.
China has paid dearly for its geopolitical rise. The Corona crisis is the latest example of the risks involved with massive investment on the Silk Road. Not only are many countries caught in a Chinese debt trap, China itself needs a strategy for managing non-performing loans amid the crisis. Loan defaults on the Silk Road could jeopardise the Chinese mega-project.
This special issue contains a selection of six articles in the field of environmental and resource economics, which were presented in INFER workshops and supported events over the last two years.
The study will first outline the way in which Germany’s fiscal policy was driven for several decades by a paradigm that centered on deficit control and reduced state involvement in the economy.
As Germany has delegated trade policy to the European Union, the focus is put on highlighting strengths and weaknesses of EU trade and investment policy. Where possible, German policy positions are included.
After several quarters with shrinking production in the manufacturing sector, the COVID-19 crisis has hit the German economy with unprecedented force. The simultaneity of multiple supply and demand shocks is likely to be unique compared to previous economic crises.
Digital trade can be divided into three different elements, all of which are highly relevant for the German economy: Electronic commerce is becoming more and more important in international distributed value chains; exchange of data is critical for future industrial processes; and trade of information and communication technologies is essential to purchasing necessary technologies and export respective products.