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Trade sanctions are a common instrument of diplomatic retaliation. To guide current and future policy, we ask: What is the most cost-efficient way to impose trade sanctions against Russia? To answer this question, we build a quantitative model of international trade with input-output connections. Sanctioning countries simultaneously choose import tariffs to maximise their income and to minimise Russia's income, with different weights placed on these objectives. We find, first, that for countries with a small willingness to pay for sanctions against Russia, the most cost-efficient sanction is a uniform, about 20 percent tariff against all Russian products. Second, if countries are willing to pay at least 0.7 $ for each 1 $ drop in Russian welfare, an embargo on Russia's mining and energy products – with tariffs above 50 percent on other products – is the most cost-efficient policy. Finally, if countries target politically relevant sectors, an embargo against Russia's mining and energy sector is the cost-efficient policy even when there is a small willingness to pay for sanctions.

Le Corbusier's 1929 vision for the modern city was that of bright housing set into green open space. Following Le Corbusier, houses need to withdraw from the streetfront. Jane Jacobs (1961) instead pointed to the importance of "eyes on the street" in making streets safe. For Jacobs, houses need to align with the streetfront. Today developers around the world overwhelmingly appear to pursue the Corbusian vision. This paper provides an economic rationale for, and a welfare assessment of, the discontiguous streetfront that results. Daylight has become internal to large developers' designs. This is why their houses are bright. Yet "eyes on the street" remain external even to large developers' designs. This is why these developers' streetfronts are blind. We argue for redressing the balance between "daylight externality" and "streetfront externality", and suggest supporting institutions. Ultimately contemporary architecture should align better with the street.

The Austrian Institute of Economic Research (WIFO) and the Competence Center "Research Focus International Economics" cordially invite you to the next FIW Workshop on "Gravity at Sixty". Keynote Lectures by James Anderson and Arnau Costinot.

The Austrian Institute of Economic Research (WIFO) kindly invites you to the 94th Euroconstruct conference from 17th to 18th November 2022. Euroconstruct London 2022 is the premier event to understand exactly what the future looks like for construction across Europe. It is part of a semi-annual series of lectures on the medium-term outlook of the European construction markets covered by the Euroconstruct network of expert economists. Exclusive, first access to the latest macro-economic and construction market projections to 2025 plus expert speakers exploring the impact of ESG, rising costs and the energy crisis on construction across Europe. Be part of a discussion powered by expert analysts from across Europe: (1) How will the energy crisis impact demand and output of construction across Europe? (2) What will be the effect of rising inflation and what can be done to mitigate this? (3) What are the ESG implications of Russia: Ukraine War? Euroconstruct conferences are aimed at all those involved in construction activities: manufacturers of building materials and equipment, construction companies, designers, architects, engineers, contractors, investors, financiers, banks, insurers, and other related professions.

Das Bundesministerium für Arbeit und Wirtschaft sowie das FIW laden ein zur 46. FIW-Vorlesung "Greening Trade? Umweltbestimmungen in Handelsabkommen". • FIW-Vorlesungen sind eine Veranstaltungsreihe, bei der politikrelevante aktuelle Forschungsergebnisse aus dem Bereich internationale Wirtschaft praxisnah präsentiert und diskutiert werden.

A broad-scale rollout and adoption of new high-speed broadband networks and services, respectively, is expected to generate innovative services for consumers and create a high potential for productivity increases and economic growth. However, there is no evidence available on the causal impact of both high-speed broadband coverage and adoption on economic outcomes, which we measure as gross domestic product (GDP). Moreover, no study has yet simultaneously considered the impact of both new wireline broadband based on fibre-optic technologies and new wireless (mobile) broadband based on 3G+ or 4G technologies. Distinguishing these effects is of crucial relevance for the efficient design of broadband policies. In order to provide reliable evidence on causal effects, we utilize comprehensive panel data for 32 OECD countries for the years 2002–2020 and panel fixed-effects estimators including instrumental variables estimation. Exclusionary restrictions follow from micro-funded determinants of network coverage and consumer adoption decisions. Our results show that both fixed and mobile broadband adoption exert a substantial and significant impact on GDP, while network deployment per se exhibits only minor multiplier-related effects on GDP per capita. Contemporaneous effects of fixed broadband adoption impact GDP per capita growth in a range of 0.026 to 0.034 percent, while mobile broadband adoption contributes between 0.079 and 0.088 percent. While the impact of contemporaneous mobile broadband adoption is substantially higher, fixed broadband adoption shows stronger dynamic and cumulative effects, as well as larger effects in later deployment periods. Generally, our results are consistent with the notion that the diffusion of technologies to substantial proportions of the population is most important in driving economic growth. Supporting policies should be technology neutral and should not neglect the demand side.

Policy makers around the world have implemented pension reforms – increasing statutory retirement ages and/or adjusting pension formulas – to ease the demographic burden on pay-as-you-go social security systems. Andreas Haller's paper provides a unifying framework to evaluate the welfare effects of pension reforms using a sufficient statistics approach. He shows that the welfare effects of any reform rest crucially on the "multiplier" – the total fiscal effect relative to the mechanical fiscal effect of a reform. Multipliers can be readily estimated with reduced-form methods using data on contributions to and transfers from the entire welfare state system. To illustrate his framework, he exploits a series of pension reforms in Austria. Andreas Haller finds that increasing the early retirement age has a multiplier of 0.4 to 0.7. By contrast, reducing pension generosity generates a multiplier of 1.4 to 1.7. In the Austrian context, he finds that reducing pension generosity is preferable to increasing the early retirement age to curb social security expenditures.

Frauen verdienen in Deutschland durchschnittlich 18% weniger pro Stunde als Männer. Vertikale und horizontale Segregationslinien, Unterschiede im Beschäftigungsumfang sowie in den Erwerbsverläufen von Frauen und Männern sind als Erklärungsfaktoren dafür statistisch identifiziert worden. Bislang ist jedoch unklar, welche Bedeutung die Arbeitsbewertung für den Gender Pay Gap hat und welche Rolle evaluative Diskriminierungen in der Verdienststruktur spielen. Die in diesem Vortrag vorgestellten Analysen bieten erstmals eine statistische Grundlage zur Überprüfung der Annahmen der Devaluationshypothese. Danach wird angenommen, dass die beruflichen Anforderungen und Belastungen von Frauen geringer bewertet und somit auch geringer entlohnt werden als die von Männern und somit eine geschlechterdifferente Arbeitsbewertung den Gender Pay Gap mitverursacht. Die dargestellten statistischen Ergebnisse belegen unter Anwendung des neu entwickelten Comparable Worth Index die Relevanz solcher evaluativen Diskriminierungen und zeigen, dass die geringere Bewertung und Bezahlung weiblicher gegenüber männlicher Erwerbsarbeit auch unter Kontrolle weiterer verdienstrelevanter Faktoren zentral zum Gender Pay Gap beitragen.