RT @imf_podcast: Your financial decisions are heavily swayed by your past experiences. like it or not. Listen to behavioral economist Ulr….

📢#CallforPapers.We invite submissions of papers on productivity focusing on topics such as AI and Total Factor Productivity (TFP), AI's impact on the labor market, infrastructure's role in boosting TFP, and more. Deadline: 12 April 2024.For details: 👉

New Policy Brief by @GCEE_en titled ‘The Debt Brake after the Federal Constitutional Court Judgement: Increase flexibility - maintain stability’ is now available online: @umalmend @GrimmVeronika @MonikaSchnitzer @AchimTruger @MartinWerding

Simulations by @GCEE_en show that the government debt-to-GDP ratio falls even if the net borrowing limits are maxed out every year and crises with higher borrowing occur regularly.

New policy brief @GCEE_en: Pragmatic reform could increase flexibility of fiscal policy by adjusting debt brake regarding 3 elements w/out jeopardising sustainability of public finances .@MonikaSchnitzer @GrimmVeronika @umalmend @AchimTruger @MartinWerding

In 🇩🇪, there are considerable deficits in the scope + timely availability of data. Data-based analyses are essential for decision-making in politics and public administration. Thus far, it is difficult to assess the consequences and the efficiency of policy measures. (6)

The acute phase of demographic ageing in 🇩🇪 calls for farsighted reforms of the statutory pension scheme (GRV): the level of pension benefits is likely to decline, while the contribution rate will sharply increase. Several measures need to be combined.

Reforms in the tax-transfer system can reduce the poverty risk and strengthen employment incentives without putting a strain on public budgets. A reform of the marital splitting systems + well-developed childcare is central (4)

Liquid capital markets can promote long-term growth: They strengthen investments in new, riskier technologies and in research + development. In 🇩🇪 there is considerable pent-up demand for financing young companies in the early-growth phase. (3)

🇩🇪 has to overcome its sluggish growth. Germany's medium-term growth prospects are at a historic low. Growth prospects can be decisively improved by increasing productivity growth, by stopping the decline in total hours worked, and through higher investment. (2)

The @GCEE_en discusses policy options for Germany in the Annual Report 2023/24 to invest in the future and overcome its sluggish economic growth. Thread → (1).@GrimmVeronika @umalmend @MonikaSchnitzer @AchimTruger @MartinWerding.

Interview: @umalmend with @dwnews on Germany´s short-term economic outlook and bleak medium-term growth prospects, and the need to stop the decline in total hours worked.

Annual Report 2023/24: 🇩🇪 continues to lag behind other countries in terms of availability + access to research data. To improve deficits in the scope + timely availability of data and in the possibilities of data linkage, legislative changes are necessary.

Annual Report 2023/24: 🇩🇪 is currently entering an acute phase of demographic ageing. This will create growing tensions in the budget of the unfunded statutory pension scheme (GRV) making reforms necessary.

Annual Report 2023/24: While income inequality in 🇩🇪 has hardly changed since 2005, the share of the population at risk of poverty has risen. Employment opportunities and incentives to work should be improved to increase labour market participation and reduce poverty risks.

Annual Report 2023/24: More innovation and investment is needed to improve the potential for growth. This requires more liquid capital markets, a culture of equity investments and more venture capital.

Annual Report 2023/24: 🇩🇪's medium-term growth prospects are at a historic low. However, growth prospects can be decisively improved by increasing productivity growth, slowing down the decline in total hours worked, and through higher investments.

Germany must invest in its future: The main barriers to growth in the coming years include demographic ageing, low productivity growth, an outdated capital stock, and a low number of young and innovative companies.

Annual Report 2023/24: Inflation has dropped by roughly half since the beginning of 2023, but is still at 6.1 % due to strong price increases in the past winter. The @GCEE_en forecasts an inflation rate of 2.6 % for 2024.

Annual Report 2023/24: Due to the energy crisis, lower real incomes and higher financing costs the recovery of the German economy is lagging behind: @GCEE_en expects GDP to decline by 0.4% in 2023 and to grow by 0.7% in 2024.