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The corona crisis has forced many employees to work from home.
The corona crisis has forced many employees to work from home. A consensus seems to be emerging that this is becoming the new normal. Many companies have already offered their employees the option to work from home for several days per week, even post-COVID. An enforceable right for employees to work from home would imply that employers must compensate employees for the additional living space required for home offices. In this paper we analyse the long-term implications of such legislation. We find serious side effects, in particular for the real estate market and the labour market. [more]
In 2019, net migration to Germany amounted to +327,100, a significant decrease compared to the previous years. Particularly striking is the sharp decline in immigration from Poland and the sharp increase in the number of immigrants from India. [more]
Due to the COVID-19 pandemic, uncertainties about the future development of German real estate prices have increased considerably. A global flight to safety should drive prices for residential properties up. [more]
We identify the impact of negative rates on household portfolios in Germany. Real returns on cash and deposits stood at -1.2% in Q1 2019. Due to that, Germans lost around EUR 150 in real terms in 2019 per person, compared to the 1991-2014 average. [more]
The key message: If the Berlin rent cap is constitutional, the situation for investors will change dramatically. The realignment of housing policy in Berlin and the rent cap represent a radical attempt to sideline market-based mechanisms. [more]
German retail clients have shown relatively little interest in passive investment alternatives, compared to traditional mutual funds. Robo-advisors, which primarily invest in ETFs, have seen the number of their clients and AuM grow. [more]
The shift towards alternative propulsion technologies, such as e-mobility, is currently the biggest challenge for the global auto industry. So far, this structural change is driven mainly by government regulation and not so much by market forces. [more]
The number of bank branches in Germany has declined sharply, to 28,000 in 2018 from around 40,000 in 2007. With 33 bank branches per 100,000 inhabitants, branch density in Germany is still relatively high. [more]