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Brokers and business cycles: Does financial market volatility cause real fluctuations?

Döpke, Jörg; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 1998

This paper elaborates on the link between financial market volatility and real economic activity. Using monthly data for Germany from 1968 to 1998, we specify GARCH models to capture the variability of stock market prices, of the real exchange rate, and of a long-term and of a short-term rate of...

Persistent link: https://www.econbiz.de/10009276110

Heterogeneous Parameter Uncertainty and the Timing of Investment during Crisis

Ni, Shawn; Ratti, Ronald A. - Institut für Weltwirtschaft (IfW) - 2009

macroeconomic uncertainty and reduces asset prices, the threshold required return that triggers investment is lower for an informed … investor than for an uninformed investor. Simulation of the model suggests that when macroeconomic uncertainty is high … investors during a period of high macroeconomic uncertainty. …

Persistent link: https://www.econbiz.de/10005083349

Emerging East-West collaborative networks: An appraisal

Schmidt, Klaus-Dieter - Institut für Weltwirtschaft (IfW) - 1998

Although an extensive amount of literature reviews emerging patterns of east-west co-operation, it is not easy to grasp the state of the art. Too many of the books, articles and papers tend to mark the trees rather than to map the forest. The paper analyses recent trends from the point of view...

Persistent link: https://www.econbiz.de/10009276078

Modelling the Economic Impact of Global Warming in a General Equilibrium Framework

Kurtze, Christiane; Springer, Katrin - Institut für Weltwirtschaft (IfW) - 1999

The issue of global warming has become a major topic in the international environmental debate. Alternative climate policy measures can be evaluated with the help of a simulation model that integrates economic and natural science considerations. A fully integrated assessment of the two-way...

Persistent link: https://www.econbiz.de/10005566210

Sustainable Intensification of Pineapple Farming in Ghana: Training and Complexity

Wüpper, David; Sauer, Johannes; Kleemann, Linda - Institut für Weltwirtschaft (IfW) - 2014

Sustainable intensification of Ghana’s smallholder farming is critical to mitigate rural poverty. Innovations for sustainable intensification include agro-ecological practices, which build up soil fertility, and mulching, which conserves soil moisture. To stimulate the adoption of these...

Persistent link: https://www.econbiz.de/10010960600

Financial stress and economic dynamics: an application to France

Aboura, Sofiane; Roye, Björn van - Institut für Weltwirtschaft (IfW) - 2013

In this paper, we develop a financial stress index for France that can be used as a real-time composite indicator for the state of financial stability in France. We take 17 financial variables from different market segments and extract a common stress component using a dynamic approximate factor...

Persistent link: https://www.econbiz.de/10010886871

Macroeconomic Shocks and Foreign Bank Assets

Buch, Claudia M.; Carstensen, Kai; Schertler, Andrea - Institut für Weltwirtschaft (IfW) - 2005

Changes in foreign asset holdings are one channel through which agents adjust to macroeconomic shocks. In this paper, we test whether foreign bank assets change as a result of domestic and foreign macroeconomic shocks. We frame our empirical analysis in a standard new open economy macro model in...

Persistent link: https://www.econbiz.de/10010886927

Exchange rate pass-through and inflation dynamics in Tunisia: A Markov-Switching approach

Khemiri, Rim; Ali, Mohamed Sami Ben - Institut für Weltwirtschaft (IfW) - 2012

This paper studies the effect of exchange rate pass-through on inflation in Tunisia over the period 2001-2009. The authors' objective is to track inflation regimes for the Tunisian economy and to forecast its determinants. Using a Markov-switching approach, the authors identified two main...

Persistent link: https://www.econbiz.de/10010956150

Financial stress and economic activity in Germany and the Euro Area

Roye, Björn van - Institut für Weltwirtschaft (IfW) - 2011

The financial crisis 2008-2009 and the European sovereign debt crisis have shown that stress on financial markets is important for analyzing and forecasting economic activity. Since financial stress is not directly observable but is presumably reflected in many financial market variables, it is...

Persistent link: https://www.econbiz.de/10009365865

Deutschmark appreciation and structural change: An overview of economic structural reports

Schmidt, Klaus-Dieter - Institut für Weltwirtschaft (IfW) - 1997

Changes in exchange rates have become a prominent issue in Germany and Japan - due to the enormous appreciation of the Deutschmark and the Yen. Conventional wisdom suggests that economic activity will be negatively affected if a currency is going through a phase of appreciation. The paper...

Persistent link: https://www.econbiz.de/10009276229