Die Europäische Union betont die steigende Bedeutung der integrierten ländlichen Entwicklung (ILE). Maximilian Ortner zeigt, wie die Forstwirtschaft an dieser Entwicklung erfolgreich teilnehmen kann. Forstliche Musterprojekte für Trinkwasserwald, Holzmobilisierung, Holzabsatzsteigerung,...

The possible short-run trade-off between the inflation (gap) and the output (gap) remains a critical policy issue for any emerging economy; particularly when an implicit or an explicit inflation targeting monetary policy is considered. The New Keynesian Phillips Curve (NKPC) has recently set up...

The monetary transmission mechanisms have influence on saving and investment decisions of firms and households by affecting their balance sheets. This study examines the effects of monetary policy through the balance sheet channel (also known as 'financial accelerator'), which affects net worth,...

This paper assesses the role of sovereign risk in explaining macroeconomic fluctuations in Turkey. We estimate two versions of a simple New Keynesian small open economy model on quarterly data for the period 1994Q3-2008Q2: A basic version and a version augmented by a default premium on...

This paper – based on a report by a Task Force established by the International Relations Committee (IRC) of the European System of Central Banks (ESCB) – reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and...

The EU candidate and potential candidate countries have made considerable progress in economic transition and integration into the world economy within less than two decades. Nevertheless, gaps in terms of income per capita relative to the euro area remain large. This suggests that the...

This paper analyzes the institutional arrangements governing the international transfer of input-embodied new technologies in agriculture. While developed countries characteristically allow "multiple channel" private and public technological transfer, developing countries often force technology...

Civil conflict in Syria, started in March 2011, led to a massive wave of forced immigration from Northern Syria to the Southeastern regions of Turkey, which later had serious economic/political repercussions on the MENA region and most of Europe. This paper exploits this natural experiment to...

The countries concerned in this paper are either in the process of negotiations for EU accession (Bulgaria and Romania) or under a review process for opening such negotiations (Turkey). Therefore we will take the EU-requirements concerning the labour market as a benchmark against which the...