In this paper we estimate a Bayesian vector autoregressive model with factor stochastic volatility in the error term to … quantity during estimation. Only a limited number of contributions to the literature estimate uncertainty and its macroeconomic …

This study provides evidence on the existence of a negative Greenium, i.e. a green risk premium, based on European … portfolio exposure to climate risk and hedge against it. We estimate that even in a rather benign scenario, there would be …

This paper builds an innovative composite world trade cycle index (WTI) by means of a dynamic factor model to monitor … and perform short-term forecasts in real time of world trade growth of both goods and (usually neglected) services. The …. Simulations analysis in pseudo real-time suggests that: i) the global trade index is a useful tool to track and forecast world …

variables in order to minimize the risk of omitted variable bias. Our analysis indicates that the socioeconomic background of …