This paper examines the impact of demographic factors on saving, investment, and external balances. We derive a number of semi-structural equations from national accounting principle and the principle that external balances for the world as a whole must sum to zero. The resulting equations...

This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...

This paper uses highly detailed, quarterly data for five major industrialized economies to estimate the impact of macroeconomic fluctuations on import protection policies over 1988:Q1 - 2010:Q4. First, estimates on a pre-Great Recession sample of data provide evidence of two key relationships....

Die seit 2019 geltenden US-Strafzölle wegen Airbus-Subventionen treffen nicht nur die Flugzeugindustrie, sondern auch europäische Familienunternehmen: Am zweitstärksten betroffen sind die Hersteller alkoholischer Getränke (z.B. Spirituosen- und Weinhersteller). Auch Süßwarenhersteller und...

Die globale Wirtschaftskrise führt zu einem massiven Anstieg der Arbeitslosigkeit, und fast alle Regierungen haben die Sicherung der heimischen Beschäftigung zu einem zentralen Ziel ihrer Wirtschaftspolitik erklärt. In den USA wurde sofort nach dem Amtsantritt von Präsident Obama ein...

This paper examines the trade policy response of Latin American governments to the rapid growth of China and India in world markets. To explain higher protection in sectors where a large share is imported from these countries, we extend the protection for sale' model to allow for different...

As a result of the current global financial crisis, in 2009 the world economy is likely to experience the largest contraction since World War II and the unemployment rate to reach historical highs in many countries. The fact that the current global crisis is originated from the U.S. and followed...