Sandra Pasch

University of Helsinki

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H-Index

i-10 index

Research Trends

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Geraldine Dany-Knedlik

German Institute for Economic Research

Alexander Kriwoluzky

Luther University

Juha Tervala

University of Helsinki

Hella Engerer

German Institute for Economic Research

Claus Michelsen

Leuphana University of Lüneburg

Guido Baldi

German Institute for Economic Research

Geraldine Dany-Knedlik

Philipp Engler

International Monetary Fund

Cooperative Institutions

German Institute for Economic Research

Freie Universität Berlin

Halle Institute for Economic Research

International Monetary Fund

University of Turku

Hella (Germany)

Ministry of Transport, Maritime Affairs and Communications

Leuphana University of Lüneburg

Verband Forschender Arzneimittelhersteller

University of Southern Denmark

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On the cyclicity of the income distribution

VfS Annual Conference 2020 (Virtual Conference): Gender Economics (2020)

Sandra Pasch Geraldine Dany-Knedlik

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Third country effects of fiscal devaluations

Economics Letters (2017)

Philipp Engler Sandra Pasch Juha Tervala

Currency union

10.1016/j.econlet.2017.11.011

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Citations (4)

Global Economy: Advanced Economies Facing a Strong Upturn: DIW Economic Outlook Summer 2021

DIW Weekly Report (2021)

Claus Michelsen Guido Baldi Geraldine Dany-Knedlik Hella Engerer Sandra Pasch

Global recovery is progressing more slowly than was indicated in 2020 due to high coronavirus rates and related economic restrictions in Europe and Japan. Recently, a disparate picture has been forming: In the advanced economies, declining infection rates and continued progress in vaccination campaigns will presumably lead to a revival that will be especially noticeable in the retail and service sectors while the manufacturing industries will lag behind in the short-term due to high raw material prices. In some emerging economies, in contrast, recently skyrocketing coronavirus rates and a lack of vaccine doses are likely to hinder recovery before the situation improves. Overall, the growth rate should increase in the second half of 2021 so that the outlook for the global economy remains nearly unchanged: DIW Berlin estimates growth of 6.7 percent for 2021 and growth of 4.9 percent for 2022. The USA, euro area, and China are delivering positive momentum to this growth, as they have remained spared from a further wave of the virus.

Momentum (technical analysis)

Economic recovery

Slow growth

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Income Business Cycles

RePEc: Research Papers in Economics (2021)

Geraldine Dany-Knedlik Alexander Kriwoluzky Sandra Pasch

Using a wide variety of business cycle dating and filtering techniques, this paper documents the cyclical behavior of the post-tax income distribution in the US. First, all incomes are cyclical and co-move with the business cycle. Second, lower and higher income individuals experience significantly larger fluctuations across the business cycle than middle-income individuals. Third, these fluctuations have become smaller over the course of the Great Moderation for the bottom and the very top income individuals. With the financial crisis starting in 2009 and its repercussions, the volatilities are again increasing; however, not significantly. These findings are independent from the method to extract the business cycle component.

Great Moderation

Moderation

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Income Business Cycles

SSRN Electronic Journal (2021)

Geraldine Dany-Knedlik Alexander Kriwoluzky Sandra Pasch

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10.2139/ssrn.3905850

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Current Account Adjustment of the Euro Area in the 2010s: Causes and Policies

Open Economies Review (2023)

Sandra Pasch Juha Tervala

Abstract In the early 2000s, several countries in the euro area (EA), mostly in the South, experienced an increase in current account deficits, while Northern countries saw an increase in current account surpluses. During the euro crisis, the South transitioned from a current account deficit to a surplus, while the North's surplus widened, thereby increasing the EA's overall current account surplus. To analyze the causes of the current account adjustment in the EA during the 2010s and to identify economic policies that reduce external imbalances, we employ a New Keynesian DSGE model with three regions (the North of the EA, the South of the EA, and the rest of the world). Our analysis reveals that the EA's expansionary monetary policy, fiscal consolidation, and lackluster productivity performance explain a significant portion of the current account adjustment. Furthermore, we find that the fiscal revaluation and expansion of the North would have limited effects on external imbalances.

Consolidation

Rest (music)

10.1007/s11079-023-09732-7

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