Im Zentrum der aktuellen Debatte um die chinesische Exportverknappung bei den Metallen der Seltenen Erden steht die Sorge einer strategischen Abhängigkeit mit daraus entstehenden Wettbewerbsnachteilen für die europäische Wirtschaft. Entsprechend werden Forderungen nach einer...

It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse. The principle has been borne out in some econometric tests of the determinants of economic performance...

Most existing studies of the macroeconomic effects of global shocks assume that they are mediated by a single intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This paper presents an empirical framework in which multiple...