Digital technologies displace labor from routine tasks, raising concerns that labor is racing against the machine. We develop an empirically tractable task-based framework to estimate the aggregate…
The pace of the global decarbonization process is widely believed to hinge on the rate of cost improvements for clean energy technologies, in particular renewable power and energy storage. This paper adopts the…
In 2020, firms expected their innovation expenditures to decrease by about 2% in 2020 compared to 2019. This decline is much smaller than that in 2009 following the financial crisis, when innovation expenditures…
Carbon pricing is a key instrument for achieving Europe’s ambitious climate targets. It is therefore not surprising that reform of the EU carbon market is at the heart of the measures proposed by the European…
COVID-19 placed a special role on fiscal policy in rescuing companies short of liquidity from insolvency. In the first months of the crisis, SMEs as the backbone of Germany’s economy benefited from large and…
