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Economic Research Seminar

Chemnitz Economic Research Seminar

Objectives of the Seminar

The Economic Research Seminar of the Faculty of Economics and Business Administration takes place every term and is organized by the Chair for Microeconomics in cooperation with other research groups. The Chemnitz Economic Research Seminar aims to promote the exchange of knowledge with researchers from other German as well as international universities, research center, and institutes.

Programme Winter Term 2022/23

The sustainability transition requires the transformation of various socio-technical systems (e.g. electricity, transport, heating, agrifood) from a lock-in in a high-carbon development path into a low-/ no-carbon one. The pathway from one to the other requires governance to overcome the associated market- and system-failures. Given the urgency, uncertainty, complexity, costs, and near-irreversibility, there is a strong appeal of computer models to experiment, risk-free, with such these interventions. So far, however, many of the intricacies discussed in the (mostly qualitative) transition studies are overlooked in these computer models. The presentation addresses both conceptual challenges in governing the socio-technical system transitions and explores the challenges of using agent-based computational models for governance analysis. The first part of the presentation focuses on a stylized agent-based computational model for a trivial, complex transition challenge. It is used to study possible pathways to escape the carbon lock-in, thereby varying the role of the large incumbent, entering entrepreneurs, consumers' utility functions, and the role of governance in the form of gray tax/ green subsidy/ public utility owner. The second part critically reflects on the limitations of computational models in addressing the real-world challenges of the sustainability transition.


This contribution presents an overview of modern trends and key challenges in the field of the fintech industry and neo-banking due to the open banking initiatives. In particular, this includes an overview of the field of compliance, licensing procedures, the regulatory environments, and assessing the AML (Anti-Money Laundering) risks for clients' activity of financial institutions. Considerable attention will be paid to the practical aspects of applying the “Know Your Customers” (KYC) due diligence in the practice of financial companies when opening clients’ accounts for payment transactions. The role of IT companies and modern customer identification systems in the implementation of KYC procedures are identified. The main advantages and risks of using blockchain technology in KYC processes are outlined.

Ways to integrate traditional banking services and decentralized financial platforms based on the transparency of financial business, the introduction of innovations, improvement of customer service quality, and reduction of compliance costs are proposed.

Keywords: banking, digital finance, fintech, transparency, regulatory compliance, AML risks, KYC due diligence, customer’s risks, Defi (decentralized finance).


This paper analyses the dynamic effects of government expenditure and revenue on inflation in a panel of OECD countries. While expansionary fiscal policies are mostly associated with higher price dynamics, indirect taxes tend to reduce measured inflation in the short run.


The contribution represents the scientific and methodological approach to evaluating of structural changes in the information and communication sector of the EU countries in 20082020. The primary directions of adaptation of this experience to the social and economic situation in Ukraine are determined. The contribution will also describe the role of the information and communication sector in the post-war reconstruction of Ukraine’s economy.


We replicate and update the forecast exercise of the 3-variable VAR (inflation, unemployment and federal funds rate) by Stock and Watson (2001) under (pseudo) real-time conditions for the sample 2015 to 2021 and extend it to a horse race. We therefore compare the results not only with a random walk and autoregressive single equation approach, as Stock and Watson did, but also with multi-variable VARs ‚– an unrestricted approach for which Sims (1980) suspects large root mean square errors due to the number of parameters to be estimated, a Bayesian VAR approach, for which Littermann (1979) developed the Minnesota prior, an approach in which the prior comes from an even more variable-rich DSGE model (Del Negro and Schorfheide 2004) ‚– and finally with judgemental forecasts from German economic research institutes.–


We use an agent-based stock-flow consistent model of a closed economy without technological change that considers different classes of households, status consumption and a Minskyan banking sector to analyze the relationship between rising saving rates, the accumulation and distribution of private financial wealth and the evolution of public debt. Conducting a series of experiments, we find evidence for Keynes' famous claim that a rise in the propensity to save will not necessarily be matched by a rise in the propensity to invest, culminating in either chronic government deficits or consistently high unemployment rates if the government refuses to accept those deficits. The result emerges endogenously from the interaction of fully decentralized agents. The model indicates that promoting consumer credit can at best provide a very short-lived relief to this problem.


This paper focuses on the influence of social ties on mobility decisions. More precisely, I investigate whether the common past working at a university has an influence on the decision to move into a certain type of firm. Universities and small and medium-sized companies (SME) are not the most natural partners and therefore the transition of employees from one organization into the other is characterized by several frictions. But, since more young academics are trained as PhDs than the academic system can hold in the long run, this potential in human capital can be of special importance to SMEs especially when it comes to internalizing external knowledge. Small firms, as opposed to large firms might find it hard to attract high-skilled individuals from universities since large firms offer a clearer perspective regarding R&D related occupations.

To model this process, I use linked employer-employee data for Germany. I identify high-skilled individuals working at a university. Within the university I identify individuals in the same or similar occupations and working at the university in the same time period indicating social ties. After leaving the university and seeking new employment, I differentiate individuals moving into large firms and individuals moving into SMEs. Making use of several amenities of the occupation, including wages, occupational level, skill-level of the work force, I focus on the presence of peers within the firm, to see whether social ties have an impact on the decision to work in a SME. First results show, that there are effects of having peers within the firm but these are ambiguous. One important aspect is the number of high- skilled employees with a background in academia, since occupational opportunities are limited the smaller the firm.


We investigate the contribution of the increase in German income inequality to the German export surplus in an open economy model with rich and non-rich households. Simulating the increase in German income inequality over the 1992-2016 period generates a sizeable increase of the net-export-to-GDP ratio of about 3 p.p.



Tuesday, 5:30 pm
Reichenhainer Straße 90, Room 2/N113 (C10.113)

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Programme Archive



did not take place in
winter term 2020/21

did not take place in
summer term 2020

Discussion Papers

Prof. Dr. Jan Priewe:

Why 60 and 3 percent? European debt and deficit rules – critique and alternatives

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