In the last decade, over half of the EU countries in the euro area or with currencies pegged to the euro were hit by large risk premium shocks. Previous papers have focused on the impact of these shocks on demand. This paper, by contrast, focuses on the impact on supply. We show that risk...

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

This paper uses a global input-output framework to quantify US and EU demand spillovers and the elasticity of world trade to GDP during the global recession of 2008-2009. We find that 20-30 percent of the decline in the US and EU demand was borne by foreign countries, with NAFTA, Emerging...

The notable rebound of U.S. manufacturing activity following the Great Recession has raised the question of whether the sector might be experiencing a renaissance. Using panel regressions, we find that a depreciating real exchange rate, an increasing spread in natural gas prices between the...

Chapter 1. The COVID-19 Pandemic as a Globally-shared Experience: An Introduction -- Chapter 2. Pandemic Economics: Essential Features and Outstanding Questions -- Chapter 3. Pandemic Analysis I: Global Governance for a Global Pandemic? -- Chapter 4. Pandemic Analysis II: Governmental Actions...

Tourismus – eine kurze Geschichte -- Ökonomische Bedeutung des Tourismus -- Ökologische Folgen des Tourismus -- Tourismus und Infrastruktur -- Alle wollen reisen – (fast) niemand will die Touristen -- Recht auf Mobilität? -- Lösungsansätze und neue Ideen.