The paper analyzes the role of systemic risk in normal and extreme market conditions. We provide a definition of financial stability and argue that systemic risk can significantly contribute to the amplification of financial crises. We interpret a constant (or decreasing) impact of systemic risk...

This paper analyzes simultaneous exceedances (coexceedances) of several stock index returns for different thresholds with a focus on the Asian crisis in 1997. We introduce a new concept of computing and estimating time-varying coexceedances and usethe quantile regression model to analyze...

This paper proposes a definition for financial market stability and an econometric test. It analyzes the impact of systematic and systemic shocks on developed and emerging market stock indices in normal and extreme market conditions. Financial market stability is defined as a constant impact of...

The paper uses cross-section micro data from the GfK consumer panel for an econometric demand analysis of households in Germany. Contrary to most research which considered quot;averagequot; behavior, we analyze consumer behavior for different quot;intensitiesquot; of consumption. Our analytical...

The "Methodologies and Indicators for Green Growth measurement" conference of November 12, 2013 assessed the state of the art in quantitative measurement of sustainability, and presented the updated findings of the FEEM SI Index 2013. Re3 hosts the interviews with the keynote speakers, their...