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endogenous macroeconomic variables, is a prevailing issue in the open economy macro literature. The most common practise to … mitigate this problem is to apply the so-called Small Open Economy Framework (SOEF). In this paper, we aim to review under … (ii) there is no globally dominant economy in the system. Third, we illustrate that macroeconomic interdependence is …
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An empirical overview of the UNESCO World Heritage List according to various characteristics is presented. The … officially stated intention of the World Heritage List is to protect global heritage. Our focus is on the imbalance of the … considered "balanced" from different points of view. It turns out that the World Heritage List is unbalanced with respect to a …
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Identification of structural VARs using sign restrictions has become increasingly popular in the academic literature. This paper (i) argues that identification of shocks can benefit from introducing a global dimension, and (ii) shows that summarising information by the median of the available...
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