Die deutsche Wirtschaft hat sich im Sommerhalbjahr weiter von den wirtschaftlichen Folgen der Corona-Krise erholt. Allerdings fiel die Expansion des BIP im dritten Quartal schwächer aus als zunächst erwartet. So lag die Produktion im Verarbeitenden Gewerbe trotz einer sehr guten Auftragslage...

An estimated Markov-switching DSGE modelling framework that allows for parameter shifts across regimes is employed to test the hypothesis of regime-dependent credibility of Hong Kong s linked exchange rate system. The model distinguishes two regimes with respect to the time-series properties of...

Using Russia as a case study and a global VAR model as a methodological tool, we analyze how heightened geopolitical risk shocks propagate across advanced economies and quantify the economic effects of these events. The global VAR impulse response functions in response to the skyrocketing...

Using Russia as a case study and a global VAR model as a methodological tool, we analyze how heightened geopolitical risk shocks propagate across advanced economies and quantify the economic effects of these events. The global VAR impulse response functions in response to the skyrocketing...

An estimated Markov-switching DSGE modelling framework that allows for parameter shifts across regimes is employed to test the hypothesis of regime-dependent credibility of Hong Kong's linked exchange rate system. The model distinguishes two regimes with respect to the time-series properties of...

​This paper takes seriously the idea that the coefficients of a VAR and the variance of shocks may be time-varying and so employs a Markov regime-switching VAR model to describe and analyse the time-varying credibility of Hong Kong's currency board system. The endogenously estimated discrete...

COVID-19 has quickly emerged as a novel risk, generating feverish behavior among investors, and posing unprecedented challenges for policymakers. The empirical analysis provides evidence for a significant negative effect on stock markets of COVID-19-related measures announced in the Euro Area...

This paper investigates the impact of climate-related fiscal and financial policies on CO2 emissions implemented by G20 countries in the period 2000-2017. The analysis show that the impact of various policy instruments is heterogeneous across the carbon emissions distribution. In particular, the...