After the Brexit referendum the behavior of the UK economy defied widespread expectations, as it did not exhibit a V-shaped recession, but a slow decline in production. We show that this pattern of propagation arises when uncertainty is about future, rather than current fundamentals, and if the...

A number of factors that contributed to the weakening of the global economy in the past year have recently improved significantly. Energy prices have reversed, the prospects for a steady expansion in China have improved with the abandonment of the zero-Covid policy, and supply bottlenecks have...

The German economy is picking up speed again. After the resurgence of the Covid-19 pandemic had interrupted the economic recovery in the winter half-year, GDP will expand at a fast pace in the further course of the year and exceed its pre-crisis level again. With the removal of the...

Purpose: Zimbabwe has experienced a chronic inflationary crisis whose roots can be traced back to 1997. Various macroeconomic instruments have been suggested to stabilize the country's prices and foster economic growth but evidence on how they interplay to influence policy is lacking. This study...