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The US Inflation Reduction Act (IRA) promotes renewable energy and contributes to climate protection, but also offers generous tax credits and subsidies to incentivize production in the United States. Economic experts in major European countries are particularly critical of the IRA. This is the finding of a global survey carried out by the ifo Institute in collaboration with the Swiss Economic Policy Institute published in the new EconPol Policy Report 41.

The Covid-19 pandemic propelled an enormous uptake in hybrid and fully remote work. Over time, it has become clear that this shift will endure long after the initial forcing event. There are few modern precedents for such an abrupt, large-scale shift in working arrangements. This article analyzes the full text of hundreds of millions of job postings in five English-speaking countries. In doing so, it applies a state-of-the-art Large Language Model (LLM) to analyze the text and determine whether the job allows remote/hybrid work.

Economic sanctions induce considerable economic damage in the target countries. Sanctions by the United Nations cause growth in sanctioned countries to decline by 2 percentage points annually. Extrapolated over ten years, this is equivalent to a 25 percent drop in per capita economic output. Unilateral sanctions by the US lead to an annual decline in growth of almost 1 percentage point in the countries affected. In the long term, this corresponds to a 13 percent slump in the economy’s output per capita.

What makes a good teacher? This is one of the central questions in the economics of education. General teacher qualifications tend to be poor predictors of teacher quality. Students perform better in science subjects if their teachers hold a subject-specific qualification. The effect is larger for female students, especially when taught by female teachers, and for students from a lower socioeconomic background.

War is raging close to NATO's Eastern border. Russia has attacked Ukraine and threatens those states that in the past had been part of Moscow's sphere of influence. Many of them are now member states of NATO. As a collective defense alliance, this poses a threat to all NATO members. Since the ability to defend against an aggressor does not come for free, defense spending will be on the agenda at the NATO Summit in Vilnius in July 2023.