The Global Vector Autoregressive (GVAR) approach has proven to be a very useful approach to analyze interactions in the global macroeconomy and other data networks where both the cross-section and the time dimensions are large. This paper surveys the latest developments in the GVAR modeling,...

Die Kommission versucht exemplarisch in vier Projekten zukunftsweisendeVeränderungstrategien zu entwerfen, die zeigen, wie für Deutschland ökonomische, soziale und ökologische Ziele ausbalanciert erreicht werden können.

In mid-April, the Secretariat of the World Trade Organization published an annual analytical review – The Global Trade in 2013 and Forecasts for 2014. After a two-year recession, moderate growth in trade is expected in 2014 and 2015 – on development of the international trade. Also, the...

This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...

We analyse the COVID-19 pandemic shock on small open economies (SOEs) in the euro area in a unified modelling framework: the Euro Area and the Global Economy model. We find strong negative international spillovers affecting each of the modelled SOEs, stemming not only from the rest of the euro...

The COVID-19 crisis is unique in many respects and, as the IMF (2021, p. 43) puts it: "a crisis like no other". A global economic contraction occurred that was unprecedented in its speed and depth. Support packages were put together in some parts of the world that also dwarfed anything seen up...