Business investment in the euro area strongly declined during the Global Financial Crisis and the Sovereign Debt Crisis. It has not yet rebounded to its pre-crisis trend despite the very expansionary monetary policy measures of the ECB. We analyse the sluggish recovery in business investment in...

This article retraces how financial stability considerations interacted with US monetary policy before and during the Great Recession. Using text-mining techniques, this article innovates by constructing indicators for financial stability sentiment expressed during testimonies of five Federal...

The recovery of the German economy is interrupted once again. In the winter, the new Covid-19 wave will particularly hit activity in contact-intensive service sectors as in previous waves. As a result, there will be a setback in private consumer spending and probably also small declines in GDP....

Die Weltproduktion nahm zu Jahresbeginn zwar recht kräftig zu, das Expansionstempo überzeichnet aber wohl die zugrundeliegende Dynamik der Weltkonjunktur. Die globale Unsicherheit ist nach wie vor hoch, und die Stimmungsindikatoren weisen weiter nach unten, so dass für die kommenden Monate...

Despite a temporary pick-up in world production at the start of the year, growth will continue to moderate amid a further deterioration in economic sentiment and elevated levels of uncertainty. We expect the global economy to expand at a rate of 3.2 percent this year, reflecting a downward...