Christoph M. Schmidt

Ruhr-Universität Bochum, Bochum, North Rhine-Westphalia, Germany

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Publications (215)55.24 Total impact

  • Mark Andor · Manuel Frondel · Christoph M. Schmidt · Michael Simora · Stephan Sommer ·

    10/2015; DOI:10.1007/s41025-015-0004-4
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    ABSTRACT: Discussions about further European integration have intensified since the five presidents published their report to complete the process of European Monetary Union. Four members of the German Council of Economic Experts argue for a mandatory balance of liability and control during each step of European integration, in particular if such steps have budgetary implications for the member states. Other authors view the proposed reforms more positively. They believe that some are useful complements to monetary union, while others lack legal foundations and popular support, which–with respect to the failing confidence of the European citizen–they see as a serious error. An ever closer union among the people of Europe constitutes one of the fundamental goals of the Treaty on European Union. This idea has to be seen in contrast to the current debates concerning the future of the EU, which are dominated by small steps, setbacks or reallocations of competences. Without new ideas and a new institutional design, the European success story could come to an end.
    Wirtschaftsdienst 09/2015; 95(9):583-602. DOI:10.1007/s10273-015-1873-0
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    ABSTRACT: Das Jahresgutachten des Sachverständigenrates für Wirtschaft 2014/15 wurde von der Politik teils heftig kritisiert, weil wichtige politische Entscheidungen infrage gestellt wurden. In Hinblick auf die monierten Einzelfragen gibt es auch aus der Wissenschaft Kritik. Der Sachverständigenrat selbst sieht hingegen seinen Auftrag nicht darin, die Regierung zu beraten, sondern sie kritisch und unabhängig zu begleiten. Seine Aufgaben sind nicht nur in der Politikberatung im engeren Sinne zu sehen, sondern auch in der Vermittlung von ökonomischen Problemstellungen in die Öffentlichkeit hinein.
    Wirtschaftsdienst 03/2015; 95(3):159-177. DOI:10.1007/s10273-015-1802-2
  • Christoph M. Schmidt ·
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    ABSTRACT: Demographic change inevitably shifts the balance between contributors and recipients in the pension system. Moreover, in the German pension system benefit levels are closely linked to the current state of economic prosperity. Therefore, in the coming decades stabilisation of old-age security cannot exclusively rely on fostering economic growth. Rather, reforms need to be initiated which directly address the endangered demographic balance. Most importantly, workers will have to accept longer lifetime work records, countervailing their increasing life expectancy and the corresponding increase in years of expected pension receipt. Current pension policy in Germany runs counter to this insight, though, leading to even higher reform requirements in the years ahead.
    Wirtschaftsdienst 02/2015; 95(S1):7-15. DOI:10.1007/s10273-015-1795-x
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    Thomas K. Bauer · Philipp Breidenbach · Christoph M. Schmidt ·
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    ABSTRACT: Using the location of baroque opera houses as a natural experiment, Falck et al. (2011) claim to document a positive causal effect of the supply of cultural goods on today’s regional distribution of talents. This paper raises serious doubts on the validity of the identification strategy underlying these estimates, though. While we are able to replicate the original results, we proceed to show that the same empirical strategy also assigns positive causal effects to the location of historical brothels and breweries. These estimated effects are similar in size and significance to those of historical opera houses. We document that all these estimates reflect the importance of institutions for long-run economic growth, and that the effect of historical amenities on the contemporary local share of high skilled workers disappears upon controlling for regions’ historical importance.
  • Lars P. Feld · Anabell Kohlmeier · Christoph M. Schmidt ·
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    ABSTRACT: Das Gesetz über Leistungsverbesserungen in der Gesetzlichen Rentenversicherung ist am 1.7.2014 in Kraft getreten. Zu einer Reduktion der Altersarmut — wie die Aussagen im Bundestagswahlkampf 2013 vermuten ließen — trägt zumindest die abschlagsfreie Rente mit 63 nicht bei. Die Autoren aus dem Sachverständigenrat Wirtschaft bewerten die einzelnen Maßnahmen des Gesetzes differenziert und befürchten hohe Mehrausgaben, die die Zukunftsfähigkeit des Rentensystems gefährden.
    Wirtschaftsdienst 08/2014; 94(8):553-559. DOI:10.1007/s10273-014-1713-7
  • Christoph M. Schmidt · Benjamin Weigert ·
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    ABSTRACT: The current state of affairs in the euro area (EA) instills hope in economic recovery but also substantial concern. The crisis countries have made considerable, albeit quite uneven, progress in central areas of reform. Yet severe obstacles remain. Moreover, European policy makers have reformed the EA’s institutional framework to strengthen its resilience. Yet important elements of a stable architecture are still missing, and it remains unclear whether the EA is moving towards full integration or a Maastricht 2.0. Most importantly, since it has become impossible to construct a viable fi scal bridge due to the success of the OMT programme, now everything depends on the perseverance of domestic reform policies.
    Wirtschaftsdienst 02/2014; 94(S1). DOI:10.1007/s10273-014-1647-0
  • Christoph M Schmidt · Benjamin Weigert ·
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    ABSTRACT: Ergänzend zu den Beiträgen im ifo Schnelldienst Nr. 2/2014 äußern sich Christoph M. Schmidt, RWI und Sachverständigenrat und Benjamin Weigert, Sachverständigenrat, zu den Koalitionsvereinbarungen. Ihrer Ansicht nach vernachlässigt die Wirtschaftspolitik die Frage, wie die Herausforderungen der Zukunft gemeistert werden sollen.
  • Thomas K. Bauer · Julia Bredtmann · Christoph M. Schmidt ·
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    ABSTRACT: In spite of its importance for civil society, we know relatively little about the way in which individuals spend their time and money in the charitable provision of goods and services. In this paper, we provide a comprehensive picture of the philanthropic behavior in Europe by analyzing both, the correlates of individuals' charitable cash donations and volunteer labor as well as their interdependence. Using data from the European Social Survey, we document a positive correlation between time and money contributions on the individual as well as on the country level. In addition, we find evidence that individuals substitute time donations by money donations as their time offered to the market increases. Moreover, analyzing philanthropic behavior on the disaggregated level reveals large differences in the determinants and the relationship of time and money donations in Europe – both across different types of voluntary organizations and across different welfare regimes.
    European Journal of Political Economy 12/2013; 32(4):80-94. DOI:10.2139/ssrn.2122492 · 1.44 Impact Factor
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    Christoph M. Schmidt · Roland Doehrn ·

  • Alfredo R. Paloyo · Sandra Schaffner · Christoph M. Schmidt ·

    German Economic Review 08/2013; 14(3). DOI:10.1111/geer.12019 · 0.67 Impact Factor
  • Nils aus dem Moore · Christoph M. Schmidt · Michael Themann ·
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    ABSTRACT: Most German economists show strong patterns of professional specialisation. In their work, they either focus on basic research or on policy consultancy. The evidence provided by Haucap und Mödl has been used to question work incentives in academia. The suggestion to change work incentives, however, is not supported by Richter, who rather calls into question the German tradition of research funding. He argues that Germany should devote more competitive funding to research projects and less to institutions. Schmidt et al. explore the question the other way around: do policy consultants publish in top journals? They conclude that they do. Güth/Kliemt show how precarious and limited our (technologically useful) knowledge is. The discussion of alternative policies among economic experts should be used to tease out the controversial arguments to allow for better informed political judgements. Wagner/Fratzscher take a historical view, showing that when modern economic research (and economic research institutes) apply a more pluralistic paradigm than that which prevailed in Germany for a long period after the Second World War, economic research will automatically have a more significant impact on politics, since policy advisors will produce more varied advice with the potential for realisation. Koll also claims that policy advice must not be based on a single supply-side oriented mainstream point of view. By drawing lessons from the crisis, economics must identify a new mainstream providing reliable guidance and policy advice.
    Wirtschaftsdienst 08/2013; 93(8):507-530.
  • Philipp Breidenbach · Rainer Kambeck · Florian Matz · Christoph M. Schmidt ·
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    ABSTRACT: 53 Städte, darunter elf kreisfreie, vier Landkreise, drei Bezirksregierungen und zwei Landschaftsverbände – das Ruhrgebiet ist eine Region von wohl einzigartiger administrativer Fragmentierung. Gerade vor dem Hintergrund des steigenden Kostendrucks der öffentlichen Verwaltung steht diese Struktur im Zentrum der politökonomischen Diskussion. Die Vorschläge zur zukünftigen Entwicklung sind dabei nicht weniger vielschichtig. Sie reichen von einer Stärkung einzelner Städte als souveräne Zentren über die Schaffung einer Bezirksregierung Ruhr bis hin zur Verschmelzung zur Ruhrstadt. Auf der Basis theoretischer Kooperationskonzepte, einer sozioökonomischen Bestandsaufnahme und der Untersuchung einzelner bestehender Kooperationen im Ruhrgebiet wird in diesem Beitrag die Konzentration auf die Bildung einzelner funktionaler Kooperationen mit strikten Anforderungsprofilen und fallbezogenen Partnern vorgeschlagen. Die Anreize zur Überwindung des Status quo hin zu einer gelebten Kooperationskultur soll ein Wettbewerb mit monetären Gewinnen für vielversprechende und zukunftsgerichtete Kooperationen setzen. Abstract Some 53 cities, 3 state governments and 2 Regional Associations—the Ruhrgebiet’s unique administrative fragmentation has increasingly come under scrutiny, as cost pressure is mounting in public administration. Both in the political and the economic sphere, there are numerous proposals to overcome this situation. Some observers advocate the identification of some selected cities to be supported as regional centers, while other proposals even envisage one big “Ruhr-City”. Based on theoretical cooperation concepts, a socio-economic review and the analyses of chosen cooperation projects, we suggest concentrating on cooperation along functional lines, initiated on a case-by-case basis. To overcome the status quo of reluctant cooperation, the right set of incentives will be needed. Specifically, we propose designing a competition offering potential cooperation partners substantial monetary benefits, if their proposal is picked as a winner.
    Raumforschung und Raumordnung 04/2013; 71(2):143-156. DOI:10.1007/s13147-013-0219-x
  • Nils aus dem Moore · Prof. Dr. Manuel Frondel · Prof. Dr. Christoph M. Schmidt ·
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    ABSTRACT: If the German energy transition is to succeed, environmental soundness should not be the only criterion on the agenda with respect to the restructuring of the energy system. It is rather the security of electricity supply and likewise the social sustainability during the transformation process that has to be ensured. The primary question is how to fulfill this challenge in the light of the legal obligation of a complete nuclear power phase-out in the most cost-effective way. The looming avalanche of costs triggered by record-breaking highs of the expanding solar power systems, promoted under the German Renewable Energy Sources Act (EEG), should have made it clear that cost efficiency has only played a minor role so far. According to this study, (real) additional costs for all solar power systems, which had been installed between 2000 and the end of 2011 in Germany, sum up to about 100 billion Euros (prices as of 2011). Since these resources are withdrawn from other societal uses, it is essential that costs for the energy transition in general and in particular the consumers’ costs due to an increased share in renewable energies have to be minimized. For this reason, a new, more cost-efficient and market-oriented promotion/funding system is needed to replace the current system based on the EEG. As suggested by the Monopoly Commission (Monopolkommission 2011), the German Council of Economic Experts (SVR 2011) and recently by acatech, Germany’s National Academy of Science and Engineering (acatech 2012), a market-based promotion system with quantity control in the form of quotas for “green” energy would be a more efficient system. If from 2013 onwards, the future expansion of renewable energies would be fostered by a national quota-based system instead of the EEG, the expansion could be more cost-effective, according to calculations of this study. If, for example, the future price for green electricity certificates exclusively accelerated the expansion of on-shore wind power, the overall subsidies for those wind power capacities that may be installed between 2013 and 2020 merely amount to EUR 6.8 billion (current prices) instead of subsidies in the amount of nearly 58.8 billion Euro (current prices) in the case of further sticking to the EEG. This alone should give sufficient reason to replace the EEG as quickly as possible by a market-based support system such as the quota system.
    Zeitschrift für Energiewirtschaft 03/2013; 37(1):27-41. DOI:10.1007/s12398-012-0098-9
  • Christoph M. Schmidt · Benjamin Weigert ·
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    ABSTRACT: The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the difficulties of some highly indebted European sovereigns to ascertain funding at palatable cost, the disconcerting fragility of the European banking system and disappointing growth prospects in the euro area periphery. To make matters even worse, these problems have developed into a systemic crisis of the European Monetary Union (EMU), since observers have apparently developed fundamental doubts over its integrity. To overcome this systemic crisis, it would not be sufficient, if only the stronger euro area economies provided more solidarity, nor would it be sufficient, if only all of Europe adhered to ironclad budgetary discipline from now on. A European Redemption Pact could be a strong political commitment to the EMU and offer a bridge between the proponents of fiscal discipline and structural reform and those governments advocating for more support. This pact would entail two indispensable aspects, the codification of a credible and coherent reform path and a temporary and limited instrument for joint refinancing.
    International Tax and Public Finance 03/2013; 20(4). DOI:10.2139/ssrn.2246763 · 0.54 Impact Factor
  • Nolan Ritter · Christoph M. Schmidt · Colin Vance ·
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    ABSTRACT: We provide evidence that motorists respond to short-run fluctuations in fuel prices at the gas pump and not on the road. Employing variants of censored panel regression to control for unobserved heterogeneity and censoring of the dependent variable, we find that the fuel price has a large and negative impact on the quantity of fuel purchased, but no significant impact on the subsequent distance driven per day until the next refill. Over the short-run, drivers thus appear to cope with high fuel prices by adjusting fuel purchases with each visit to the filling station, but without altering their daily mileage.
    SSRN Electronic Journal 01/2013; DOI:10.2139/ssrn.2221324
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    Christoph M. Schmidt · Nils aus dem Moore ·
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    ABSTRACT: An eternal motive of human existence is the search for guidance.While values and beliefs retain their high relevance, today’s enlightened societies also tend to rest their aspirations and decisions on the actual facts and on a sober assessment of possible courses of events emerging from different choices. Given the complexity of modern life, it is by now well understood that this strategy requires objective, comprehensive and accessible statistical reporting. Today, the desire to provide such a valuable basis for individual decisions and policy-making finds one of its most important expressions in the international debate on “GDP and beyond”. In contrast to similar efforts displayed in previous decades, the current projects emphasize sustainability issues and focus on the accessibility of the information, using modern tools of measurement and presentation. Yet, there is ample evidence that even by the mid-19th century economists aspired to use the objectifying power of statistical analysis as an instrument to improve policy-making and to achieve societal progress. Many of the approaches entertained today have thus to be viewed as an extension of attempts started at that time.
    Jahrbücher für Nationalökonomie und Statistik 01/2013; 233(3):266-290. · 0.27 Impact Factor
  • Nils aus dem Moore · Christoph M. Schmidt ·

  • Manuel Frondel · Christoph M. Schmidt · Colin Vance ·
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    ABSTRACT: This note attempts to reconcile a range of primary methods for dealing with price asymmetry, such as the approaches proposed by Tweeten and Quance (1969), Wolffram (1971) and Houk(1977). Using Wolffram’s stylized example, we first illustrate that the notion of asymmetry can be captured in a straightforward and highly intuitive manner in terms of first differences. While this asymmetry definition is more readily interpretable than the alternatives proposed by Wolff ram and Houk, we demonstrate that, theoretically, these definitions are equivalent. This conclusion also turns out to be true for Wolfframs’s stylized example. Using data on coffee consumption, however, we illustrate that, in practice, these approaches may yield divergent conclusions with respect to asymmetry. We argue that in such situations the asymmetry notion based on first differences should be preferred.
    SSRN Electronic Journal 01/2013; DOI:10.2139/ssrn.2383794
  • Tobias KKrner · Oliver Mueller · Stephan Paul · Christoph M. Schmidt ·
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    ABSTRACT: Improving the regulation of banks has been at the center of economic policy actions since the outbreak of the global financial crisis. One of the many and conceptually very different measures proposed is to improve the corporate governance of banks by setting qualification standards for banks’ non-executive directors. To explore the rationale of such a regulation implemented in Germany, we conducted a detailed survey among supervisory board members of German banks covering their educational background, professional status and experience, as well as non-occupation related activities. We document that general education among supervisory board members is high, but very few board members can rely on a professional background in banking and finance. Surprisingly, we find that this is especially true for chairpersons and that a higher share of professionals among board members primarily reflects the presence of employee representatives. However, as regards competencies and skills required to enforce changes against the management, chairpersons more often report leadership experience than ordinary members. Furthermore, some of these findings strongly depend on the bank’s legal form, its size and business model, suggesting that both market forces and institutional characteristics of banking markets are important determinants of the qualification level of non-executive directors.
    SSRN Electronic Journal 01/2013; DOI:10.2139/ssrn.2325285

Publication Stats

1k Citations
55.24 Total Impact Points


  • 2002-2013
    • Ruhr-Universität Bochum
      • Faculty of Economics
      Bochum, North Rhine-Westphalia, Germany
  • 1991-2013
    • Rheinisch-Westfälisches Institut für Wirtschaftsforschung
      Essen, North Rhine-Westphalia, Germany
  • 2012
    • Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung
      Wiesbaden, Hesse, Germany
  • 2008
    • Institut für Ökologische Wirtschaftsforschung
      Berlín, Berlin, Germany
  • 2000
    • Forschungsinstitut zur Zukunft der Arbeit
      Bonn, North Rhine-Westphalia, Germany
  • 1998
    • Universität Heidelberg
      Heidelburg, Baden-Württemberg, Germany
  • 1970
    • Humboldt-Universität zu Berlin
      Berlín, Berlin, Germany