^{From August 25th to 29th, Marius Jäger participated in the 40th EEA annual congress held in Bordeaux, France and presented his paper “America First? – The macroeconomic effects of punitive tariffs”. (joint work with colleagues from the Bundesbank)}

^{From July 15 to 18, Marten Hillebrand participated in the 16th Viennese Conference on Optimal Control and Dynamic Games held at TU Wien and presented his paper “International Climate Policy and Risk Sharing”. (joint work with team member Markus Epp)}

^{From July 7th to 9th, Marius Jäger participate 31st CEF conference held at University of Chile in Santiago, Chile and presented his paper “America First? – The macroeconomic effects of punitive tariffs”. (joint work with the Bundesbank)}

^{On May 23, the Macro chair hosted a workshop on “Macroeconomic Perspectives on Climate Change” that brought together leading scholars working in the field to present their research and discuss ideas.  The program can be downloaded here, further details are available on the workshop website. Some impressions from the workshop can be found on LinkedIn here, here, and here. We would like to thank our amazing guests for their inspiring talks, the great discussions and insightful comments, and the wonderful social moments as well.}  

_{On May 20, team members Marten Hillebrand, Markus Epp, and Marius Jäger participated in the Freiburg Renewable Energy Day 2025 conference where they presented posters on their current research on Climate Change and International Risk Sharing and Cap and Trade versus Tradable Performance Standard. Organized by the Center for Renewable Energy (ZEE) at the University of Freiburg, the event brought together scholars working in the field of energy and the environment for a day of inspiring discussions and knowledge exchange.} 

_{As part of his sabbatical term, Marten Hillebrand spent the entire April as a research visitor at Tilburg University. During his stay, he also gave a research talk presenting the paper “International Climate Policy and Risk Sharing” (joint work with Markus Epp). He would like to thank the Department of Econometrics & Operations Research at Tilburg for the wonderful opportunity to discuss research ideas and the potential for future cooperation and collaboration in a most stimulating academic environment. The exchange of ideas and feedback notably on the economics of climate change was immensely valuable and will contribute significantly to our ongoing and future research agenda.}

_{A revised version of the working paper “Win as a Team or Fail as Individuals: Cooperation and Non-Cooperation in the Climate Tax Game” by Marten Hillebrand is now available. The paper derives optimal policies in a multi-region model of climate change under different scenarios of cooperation and coalitions formation. It also studies transfer policies under which regions have an incentive to cooperate and choose a uniform global carbon tax. The manuscript can be downloaded here.}

_{On Wednesday, November 13, Marten Hillebrand presented his paper “Win as a Team or Fail as Individuals: Cooperation and Non-Cooperation in the Climate Tax Game” in the research seminar at the University of Bayreuth. He would like to thank his colleagues at Bayreuth for their generous invitation and the wonderful discussions during, before, and after the seminar!}

_{On September 26, Marten Hillebrand participated in a workshop on “Climate Change: Global Risks and Cooperation” hosted by Oslo Business School at OsloMet University. He would like to thank the organizers Svenn Jensen and Christian Traeger for hosting a fantastic event with great talks and stimulating discussions in the beautiful city of Olso!}

_{Talks and discussions take regularly place on Wednesdays, 2-5pm. To participate in our internal seminar actively or passively, send an Email to Markus Epp. We cordially invite speakers and discussions in the fields of Macroeconomics, Public Economics, and Economic Theory.}

_{On May 2 and 3, Marten Hillebrand participated in the 27th Conference on “Theories and Methods in Macroeconomics” T2M at the University of Amsterdam and presented his paper “Win as a Team or Fail as Individuals – Cooperation and Non-Cooperation in the Climate Tax Game”}

^{From March 18 to 27, Marten Hillebrand and Marius Jäger went for a research visit to Vietnam to attend a workshop on “Institutions, Inequality, Climate Change, and Migration” organized jointly by Fulbright University and the World Bank. During their visit, they also had the privilege of engaging with local researchers and Marten Hillebrand gave a lecture on “Macroeconomic Models of Climate Change and Optimal Climate Policy” attended by students at Fulbright University.}

^{We are happy to announce a new Bundesbank working paper: “On Curbing the Rise in Energy Prices: An Examination of Different Mitigation Approaches“ by Marius Jäger and his Co-Authors Natascha Hinterlang, Nikolai Stähler and Johannes Strobel}