CRC TR 224 EPoS–Economic Perspectives on Societal Challenges
@crctr224.bsky.social
Equality of Opportunity, Market Regulation, and Financial Stability – is a cooperation of the University of Bonn and the University of Mannheim funded by the German Research Foundation (Deutsche Forschungsgemeinschaft, DFG)
Subjective expectations resolve key FX puzzles: delayed & excessive overshooting. Unlike rational traders who stabilize, subjective speculators amplify volatility. Excluding them calms markets, but their presence boosts FX intervention power.
December 16, 2025 at 8:38 AM
Subjective expectations resolve key FX puzzles: delayed & excessive overshooting. Unlike rational traders who stabilize, subjective speculators amplify volatility. Excluding them calms markets, but their presence boosts FX intervention power.
Women sort into “family-friendly” sectors before their first child. Our model of career choice and fertility shows: those at the productivity margin switch and use the quality-quantity and rime-expenditure trade-offs to navigate motherhood and career.
December 16, 2025 at 8:34 AM
Women sort into “family-friendly” sectors before their first child. Our model of career choice and fertility shows: those at the productivity margin switch and use the quality-quantity and rime-expenditure trade-offs to navigate motherhood and career.
Can ownership taxes accelerate the retirement of outdated durable goods? Nico Kasparetz investigates this in the context of automobiles and shows how higher fees on owning dirty cars prompt earlier vehicle retirement.
December 16, 2025 at 8:30 AM
Can ownership taxes accelerate the retirement of outdated durable goods? Nico Kasparetz investigates this in the context of automobiles and shows how higher fees on owning dirty cars prompt earlier vehicle retirement.
How China’s rare-earth export restrictions backfired: By raising global prices of hard-to-substitute inputs, they triggered a wave of rare-earth-saving innovation abroad — boosting productivity and exports in rare-earth-intensive industries outside China.
December 2, 2025 at 10:48 AM
How China’s rare-earth export restrictions backfired: By raising global prices of hard-to-substitute inputs, they triggered a wave of rare-earth-saving innovation abroad — boosting productivity and exports in rare-earth-intensive industries outside China.
Couples rearrange their time after having a child—but what happens to their relationship? Using a novel relationship quality (RQ) measure, @belenininina & @olatz_roman find a sharp, lasting RQ drop after birth, driven by shifts in household specialization
December 2, 2025 at 10:46 AM
Couples rearrange their time after having a child—but what happens to their relationship? Using a novel relationship quality (RQ) measure, @belenininina & @olatz_roman find a sharp, lasting RQ drop after birth, driven by shifts in household specialization
how two-sided platforms develop their recommender systems to be precise about value-for-money.
December 2, 2025 at 10:43 AM
how two-sided platforms develop their recommender systems to be precise about value-for-money.
Currency risk premia are endogenous, driven by trade & financial structure. High $ invoicing mutes expenditure switching, while $ debt adds a contractionary
financial channel. This combination makes depreciations recessionary, rendering the currency risky
financial channel. This combination makes depreciations recessionary, rendering the currency risky
December 2, 2025 at 10:41 AM
Currency risk premia are endogenous, driven by trade & financial structure. High $ invoicing mutes expenditure switching, while $ debt adds a contractionary
financial channel. This combination makes depreciations recessionary, rendering the currency risky
financial channel. This combination makes depreciations recessionary, rendering the currency risky
German Research Foundation approves a further funding period for the CRC TR 224 We are happy to announce that our collaborative research center can continue it's work for the next 4 years.
t.co/QQ1pbxMriY
t.co/QQ1pbxMriY
https://www.crctr224.de/newsroom/press-releases/third-funding-period-for-crc-economic-perspectives-on-societal-challenges
t.co
November 26, 2025 at 8:32 AM
German Research Foundation approves a further funding period for the CRC TR 224 We are happy to announce that our collaborative research center can continue it's work for the next 4 years.
t.co/QQ1pbxMriY
t.co/QQ1pbxMriY
We quantify the distributional implications of the European energy crisis and of the Iberian policy response (wholesale electricity market interventions). While the crisis shifted wealth from consumers to generators, the policy’s relief was progressive
November 19, 2025 at 9:43 AM
We quantify the distributional implications of the European energy crisis and of the Iberian policy response (wholesale electricity market interventions). While the crisis shifted wealth from consumers to generators, the policy’s relief was progressive
Recommender systems may be designed such that they lead to excessive purchases even under competition, as new work by Martin Peitz and Anton Sobolev shows.
November 19, 2025 at 9:40 AM
Recommender systems may be designed such that they lead to excessive purchases even under competition, as new work by Martin Peitz and Anton Sobolev shows.
Different demographic groups will experience heterogeneous welfare effects of immigration between 2012 and 2017, with marginal losses to the welfare of the
average worker in Germany
average worker in Germany
November 19, 2025 at 9:39 AM
Different demographic groups will experience heterogeneous welfare effects of immigration between 2012 and 2017, with marginal losses to the welfare of the
average worker in Germany
average worker in Germany
This paper studies bidding in simultaneous first- and second-price auctions. We show the absence of symmetric pure monotone equilibria, characterize mixed-strategy equilibria, and solve the two-auction, two-bidder case.
November 18, 2025 at 9:23 AM
This paper studies bidding in simultaneous first- and second-price auctions. We show the absence of symmetric pure monotone equilibria, characterize mixed-strategy equilibria, and solve the two-auction, two-bidder case.
How do beliefs about others’ beliefs shape bargaining? New paper showing how rationality signals, fair offers, and strategic concealment interact in reputational bargaining yielding multiple equilibria and fair-deal outcomes
November 18, 2025 at 9:22 AM
How do beliefs about others’ beliefs shape bargaining? New paper showing how rationality signals, fair offers, and strategic concealment interact in reputational bargaining yielding multiple equilibria and fair-deal outcomes
Study how export shocks propagate across regions and sectors and affect the macroeconomy, focusing on the Great Recession in Japan as a useful case study.
November 18, 2025 at 9:20 AM
Study how export shocks propagate across regions and sectors and affect the macroeconomy, focusing on the Great Recession in Japan as a useful case study.
Google's display of hotel search results continues to violate the ban on self-preferencing. Furthermore, Google's approach to compliance could undermine the effectiveness of the DMA in tackling Booking.com.
November 12, 2025 at 7:49 AM
Google's display of hotel search results continues to violate the ban on self-preferencing. Furthermore, Google's approach to compliance could undermine the effectiveness of the DMA in tackling Booking.com.
How industrial policy and competition policy can become friends. New paper by Tomaso Duso and Martin Peitz.
November 5, 2025 at 8:52 AM
How industrial policy and competition policy can become friends. New paper by Tomaso Duso and Martin Peitz.
Mortality risk influences asset prices by reducing households' incentives to save and invest, thereby lowering risky asset values and raising the risk-free rate.
Endogenous price effects explain one third of welfare losses following mortality shocks.
Endogenous price effects explain one third of welfare losses following mortality shocks.
November 5, 2025 at 8:48 AM
Mortality risk influences asset prices by reducing households' incentives to save and invest, thereby lowering risky asset values and raising the risk-free rate.
Endogenous price effects explain one third of welfare losses following mortality shocks.
Endogenous price effects explain one third of welfare losses following mortality shocks.
Update on U.S. inequality! Wealth inequality remains high: top 1% hold 35% of wealth down from peak of 39% in 2016. Housing boom listed the middle class, but the gap across generations keeps widening—young Americans own far less than their parents did.
October 28, 2025 at 8:03 AM
Update on U.S. inequality! Wealth inequality remains high: top 1% hold 35% of wealth down from peak of 39% in 2016. Housing boom listed the middle class, but the gap across generations keeps widening—young Americans own far less than their parents did.
Centuries after their decline, Korea’s early state schools (Hyanggyo) still shape education today. Using new data, we show that historical exposure to Hyanggyo predicts higher modern schooling, pro-education attitudes, and lower fertility rates.
October 28, 2025 at 8:00 AM
Centuries after their decline, Korea’s early state schools (Hyanggyo) still shape education today. Using new data, we show that historical exposure to Hyanggyo predicts higher modern schooling, pro-education attitudes, and lower fertility rates.
Jacopo Gambato, Bernhard Ganglmair and Julia Krämer demonstrate how expanding a regulator's
resources can backfire and harm compliance when the success of detecƟng firms'
noncompliance varies for different regulatory targets. #econtwiƩer #regulaƟon
resources can backfire and harm compliance when the success of detecƟng firms'
noncompliance varies for different regulatory targets. #econtwiƩer #regulaƟon
October 8, 2025 at 10:46 AM
Jacopo Gambato, Bernhard Ganglmair and Julia Krämer demonstrate how expanding a regulator's
resources can backfire and harm compliance when the success of detecƟng firms'
noncompliance varies for different regulatory targets. #econtwiƩer #regulaƟon
resources can backfire and harm compliance when the success of detecƟng firms'
noncompliance varies for different regulatory targets. #econtwiƩer #regulaƟon
The global fertility rate has reached a record low, with nearly half of all countries now below replacement level.
October 2, 2025 at 7:26 AM
The global fertility rate has reached a record low, with nearly half of all countries now below replacement level.
Revisit the classic chain-store paradox by introducing a novel element.
October 2, 2025 at 7:26 AM
Revisit the classic chain-store paradox by introducing a novel element.
A Nash equilibrium of a game in extensive form is a sequential equilibrium in mixed strategies if it can be approximated through equilibria of close-by games with slightly perturbed payoffs and small-probability behavioral types.
October 2, 2025 at 7:25 AM
A Nash equilibrium of a game in extensive form is a sequential equilibrium in mixed strategies if it can be approximated through equilibria of close-by games with slightly perturbed payoffs and small-probability behavioral types.
An equilibrium outcome of a game in extensive form is fully self-justifiable if it is supported by justifiable equilibria (McLennan, 1985) regardless of the order in which actions implausible under the given outcome are excluded.
October 2, 2025 at 7:24 AM
An equilibrium outcome of a game in extensive form is fully self-justifiable if it is supported by justifiable equilibria (McLennan, 1985) regardless of the order in which actions implausible under the given outcome are excluded.
One-stop-shopping prevents specialization as a source of market power.
October 2, 2025 at 7:23 AM
One-stop-shopping prevents specialization as a source of market power.