Research Brief
This publication by the Bundesbank Research Centre provides regular news about recent studies and discussion papers by Bundesbank research economists.
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© Aleksandr / Adobe StockThe effects of government support measures such as the gas price brake Research Brief | 67th edition – July 2024
Energy prices skyrocketed as a result of the Russian war of aggression. Government stabilization measures such as the gas price brake were intended to support overall economic development. Our study compares the effects of two fiscal stabilization measures for companies: subsidies in the form of quantity-limited price guarantees and production-independent direct transfers. It turns out that the effectiveness of the measures depends on the availability of the good.
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© Maksim Kabakou / Adobe StockWill the digital euro strengthen financial stability? Yes, within certain limits Research Brief | 66th edition – June 2024
This article studies the impact of a digital euro on financial stability. Our survey findings indicate that German households are open to the digital euro – suggesting they perceive that there are benefits to accessing a central bank digital currency. However, demand for the digital euro raises concerns about strong outflows of deposits from the banking sector, with potential implications for financial stability. We study this issue in a new macroeconomic model and conclude that the digital euro – if complemented with an appropriate holding limit, i.e. the maximum digital euro amount that an individual is permitted to hold – can actually strengthen financial stability and improve welfare.
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© ninog / fotoliaDigital transformation and its impact on labour productivity Research Brief | 65th edition – May 2024
The digital transformation creates scope to make workflows and production processes more efficient. To quantify the impact of digital transformation on labour productivity, research often focuses on investments in digital technologies. This perspective neglects the fact that digital intermediate inputs, such as microchips or integrated software, also represent an important transmission channel for the efficiency gains from digitalisation. In a new study, Bundesbank researchers have examined how efficiency gains in the digital sectors have affected labour productivity in Germany, France and the United States.
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© Reza Estakhrian / gettyimagesRight to work part-time increases mothers’ labour income Research Brief | 64th edition – April 2024
Flexible working time arrangements can help parents reconcile family and work commitments. In this context, a new study examines the impact of the statutory right to work part-time on the labour supply and labour income of eligible mothers.
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© Goffkein / Adobe StockHow household scanner data help improve inflation forecasting Research Brief | 63rd edition – January 2024
Forecasting current month inflation (“nowcasting”) is a highly important exercise for central banks and market participants, especially in turbulent times. In a new study, researchers investigate how millions of granular weekly scanner data from households combined with machine learning (ML) techniques can improve the nowcast of monthly German inflation.