Germany has the second lowest share of homeowners of all OECD countries. This is driven by housing policies that produce incentives to rent. New studies show that alternative policies could increase the homeownership rate and reduce wealth inequality.

In a study prepared together with Professor Friedrich Schneider of the Johannes Kepler University Linz, illegal demand for cash in Germany is investigated. The study presents an overview of economic research on the use of cash in the shadow economy as well as fresh empirical analyses by the authors. They look at the influence of the shadow economy on cash lodgements at Bundesbank branches and the demand for banknotes in Germany.