do not occur ceteris paribus. This makes it necessary to explicitly account for the demand and supply shocks underlying …

to the speculative demand for oil as well as shocks to the flow demand and flow supply. The forward-looking element of … an estimate of this elasticity based on shifts of the supply curve along the demand curve. We show that, even after …

-shock specification, we identify, using sign restrictions, two non-policy shocks, demand and supply, and two policy shocks, monetary and … fiscal. We obtain the following results. (ii) Both supply and demand shocks are important sources of fluctuations; supply …

We analyze securities trading by banks and the associated spillovers to the supply of credit. Empirical analysis has … investments of banks at the security level for 2005-2012 in conjunction with the credit register from Germany. Analyzing data at … increase their overall investments in securities, especially in those that had a larger price drop. The quantitative effects …

productivity and human capital investments. Using light intensity as an alternative measure for economic activity confirms the …

investments. …

) investments for EMU-firms have grown 2.5% more than for non-EMU firms, after 1999; and (ii) the benefits of the euro accrue …

We analyze the impact of mandatory access on the infrastructure investments of two competing communications networks …