Inflation targeting (IT) has gained much traction over the past two decades, becoming a framework of reference for the conduct of monetary policy. However, the debate about its very merits and macroeconomic consequences remains inconclusive. This paper digs deeper into the issue through a...

Climate change is an existential threat to the global economy and financial markets. There is a large body of literature documenting potential macroeconomic consequences of climate change, but firm-level empirical research on how climate change affects the performance of firms remains scarce....

Das ifo Geschäftsklima ist ein Konjunkturindikator, der aus den Ergebnissen der monatlichen Unternehmensbefragungen des ifo Instituts berechnet wird. Die Antworten zu zwei Fragen gehen in diesen Indikator ein: die Bewertung der aktuellen Geschäftslage sowie die Erwartung hinsichtlich der...

Peter M. Wiedemann, Udo Erdmann und Frederik Freudenstein, University of Wollongong, TIBER und KIT, stellen die Ergebnisse einer Umfrage vor, die sich mit der Bewertung einzelner erneuerbarer Energieformen befasst, und zwar mit Solarenergie, Windenergie an Land und auf See, Wasserkraft und...

This paper seeks to illuminate the uncertainty in official GDP per capita measuresusing auxiliary data. Using satellite-recorded nighttime lights as an additional measurementof true GDP per capita, we provide a statistical framework, in which the error inofficial GDP per capita may depend on the...

A universal testing and isolation policy is the most viable way to vanquish a pandemic. Its implementation requires: (i) an epidemiological rather than clinical approach to testing, sacrificing accuracy for scalability, convenience and speed; and (ii) state intervention to ramp up production,...

A large share of cross-country differences in productivity is explained by differences in agricultural productivity. Using a combination of sub-national agricultural statistics and geospatial datasets on crop-specific potential yields, we study the main drivers of this variation from a...

We study, both empirically and quantitatively, the role of savings and the labor supply inself-insurance channels over the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits. We pick China as a case study since China has...