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The production index is an important indicator for assessing the cyclical state of the economy. Unfortunately, the monthly time series is contaminated by many noisy components like seasonal variations, calendar and vacation effects. Only part of those nuisance components are explicitly...
Persistent link: https://www.econbiz.de/10011514105
In this paper, an Unobserved Components Model is employed to decompose German real GDP into the trend, cycle and seasonal components and the working day effect. The most important findings are: 1) The growth rate of potential output declined from 4.2 per cent in the sixties to 1.4 per cent at...
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The effects of extreme weather events, such as heat waves and droughts are taken into account in both global and … extreme weather events, in particular, droughts and high temperatures, for the German power sector. Furthermore, we consider … droughts. We stress that increasing frequencies of such extreme weather events will aggravate the observed problem, especially …
Persistent link: https://www.econbiz.de/10012295795
The effects of extreme weather events, such as heat waves and droughts, are taken into account in both global and … emerging risks of extreme weather events, in particular, droughts and high temperatures, for the German power sector. Our … extreme weather events will aggravate the observed problem, especially with respect to the transition of the power sector. …
Persistent link: https://www.econbiz.de/10012299466
This paper adds to the scarce empirical evidence related to the impact of climate change on the manufacturing sector. To study the effect of temperature on energy use and CO2 emissions daily temperature information from 11.000 German municipalities are combined with the census of the...
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