In this paper, we develop a gap model based on a reduced form of the New Keynesian Model. The model offers various scenario structure tools which analyze the dynamics of key macro economic variables under diverse shocks and depicts their properties and historical decompositions. This framework...

Während die industrialisierte Landwirtschaft des Nordens gigantische Lebensmittelüberschüsse produziert, hungern auf der Südhalbkugel der Erde Millionen von Menschen. Doch warum kommt die nötige Agrarwende nur so langsam voran? Werner Onken erläutert in diesem Buch, wie sehr sie durch das...

The discussion about country-specific influence on the interest rate decisions of the European Central Bank does not cease. To investigate the possibility of regional influence on the determination of the policy rate, we estimate Taylor-type reaction functions for the period from 1999 to 2005...