Most economic models struggle to incorporate biophysical relationships between materials, energy and emissions, in order to appropriately deal with biophysical constraints of supply (and possibly also demand). After the incorporation of biophysical constraints, some functions produced surprising...

Das Themenspektrum der empirischen Wirtschaftsforschung ist breit gefächert. Nicht nur die Wirtschaftstheorie, sondern auch die Ökonometrie und Wirtschaftsstatistik spielen eine zentrale Rolle. Die Festschrift für Professor Ullrich Heilemann versammelt dazu 30 Fachaufsätze anerkannter...

This paper takes stock of the ECB's macroeconometric modelling strategy by focusing on the models and applications used in the Forecasting and Policy Modelling Division. We focus on the guiding principles underpinning the current portfolio of the main macroeconomic models and illustrate how they...