Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. In this paper, we estimate the causal effect of ambient air pollution on individuals' productivity by using panel data on the universe of professional soccer players in Germany over the period [1999][2000][2001][2002][2003][2004][2005][2006][2007][2008][2009][2010][2011]. Combining this data with hourly information on the concentration of particulate matter in spatial proximity to each stadium at the time of kickoff, we exploit exogenous variation in the players' exposure to air pollution due to match scheduling rules that are beyond the control of teams and players. Our analysis shows negative and nonlinear effects of air pollution on short-run productivity. We further find that the effect increases with age and is stronger in case players face an additional physical burden.JEL Classification: J24, Q51, Q53

We study the impact of short-term exposure to ambient air pollution on the spread and severity of COVID-19 in Germany. We combine data at the county-by-day level on confirmed cases and deaths with information on local air quality and weather conditions. Following Deryugina et al. (2019), we instrument short-term variation in local concentrations of particulate matter (PM10) by region-specific daily variation in wind directions. We find significant positive effects of PM10 concentration on death numbers from four days before to ten days after the onset of symptoms. Specifically, for elderly patients (80+ years) an increase in ambient PM10 concentration by one standard deviation between two and four days after developing symptoms increases the number of deaths by 19 percent of a standard deviation. In addition, higher levels air pollution raise the number of confirmed cases of COVID-19 for all age groups. The timing of effects surrounding the onset of illness suggests that air pollution affects the severity of already-realized infections. We discuss the implications of our results for immediate policy levers to reduce the exposure and level of ambient air pollution, as well as for cost-benefit considerations of policies aiming at sustainable longer-term reductions of pollution levels.

The current debt crisis has given rise to a debate about deeper fiscal integration in Europe. The view is widespread that moving towards a 'fiscal union' would have a stabilising effect in the event of macroeconomic shocks. In this paper we study the economic effects of introducing two elements of a fiscal union: Firstly, an EU-wide tax and transfer system and secondly, an EU-wide system of fiscal equalisation. Using the European tax-benefit calculator EUROMOD, we exploit representative household micro data from 11 Eurozone countries to simulate these policy reforms and to study their effects on the distribution of income as well as their impact on automatic fiscal stabilisers. We find that replacing one third of the national tax and transfer systems by a European system would lead to significant redistributive effects both within and across countries. These effects depend on income levels and the structures of the existing national tax and transfer systems. The EU system would improve fiscal stabilisation especially in credit constrained countries. It would absorb between 10 and 15 per cent of a macroeconomic income shock. Introducing a fiscal equalisation system based on taxing capacity would redistribute revenues from high to low income countries. The stabilisation properties of this system, however, are ambiguous. This suggests that not all forms of fiscal integration will improve macroeconomic stability in the Eurozone. JEL codes: H2, H3, J22 None of the institutions cited above bear any responsibility for the analysis or interpretation of the data reported here. Peichl is grateful for financial support by Deutsche Forschungsgemeinschaft DFG (PE1675). We would like to thank Koen Decancq, Frank Vandenbroucke, the editor, Nicola Fuchs-Schündeln, three anonymous referees as well as seminar and conference participants in Antwerp (CSB), Berlin (ESMT), Bonn (IZA), Dresden (IIPF), Dublin (IMA), Göttingen (VfS) and Mannheim (ZEW) for useful comments and suggestions. We are indebted to all past and current members of the EUROMOD consortium for the construction and development of EUROMOD. The usual disclaimer applies.2 These are the founding members of the EMU (except Luxemburg) and Portugal and Spain. In the following we will refer to this group as 'the EU', neglecting that the European Union has 27 member countries. We focus on these 11 countries because of data availability and because we are primarily interested in studying fiscal integration in the Eurozone.