The focus of this paper is on the use of the yield curve in monetary policy making. Theoretical arguments and a multi-country empirical analysis with an explicit focus on the euro area suggest the need for caution in case the Eurosystem uses the yield curve as an information variable for...

The authors investigate the influence of case selection and (re)coding for two vintages of a key resource for research on economic sanctions: the Peterson Institute data base reported in Hufbauer et al. (Economic Sanctions Reconsidered, 2nd edition in 1990 and 3rd edition in 2007). The Peterson...

This paper challenges the main stream narrative that links the strength and speed of the world trade collapse in 2008-9 to (i) lacking trade finance, (ii) international value chains and (iii) ‘murky' protectionism. The paper discusses the emerging literature and points out counteracting forces...

We develop a model of the dynamics of economic sanctions in conjunction with the response of the sanction target. We apply this model to the case of the EU and US boycott of Iranian oil. Our VAR model finds significant impacts of sanctions both on key economic variables and on the political...

This paper looks beyond the comparatively good performance of the large emerging economies that gave rise to the mainstream narrative of decoupling. I discuss the negative economic and social impacts of the financial and economic crisis on the Least Developed Countries that the mainstream...

This article argues that the closed economy concept used at the start of introductory courses can and should be used to discuss our planet's economy. The article illustrates how observations at the level of planet Earth can be used while teaching relationships that are studied in a closed...

The paper puts the collapse of the world trade volume in 2009 into two historic perspectives. First, the paper analyses 18 major post-1980/pre-2007 financial crises and uses these observations as a basis to critically evaluate presently available projections for world trade. Second, the paper...

This book is written in commemoration of Karel Jansen. It was originally planned as a Liber Amicorum for his retirement in 2011 to honour a valued and productive colleague, teacher and researcher. After Karel's sudden death the contributors decided to do just that and go on with the production...

This paper considers an extensive cartel contamination of markets in the Dutch construction sector. Overwhelming legal evidence of bid rigging in this sector was obtained in 486 leniency applications in which complete secret accounts were submitted. I offer a case study and a broadly based post...