The ability to accurately estimate the extent to which the failure of a bank disrupts the financial system is very valuable for regulators of the financial system. One important part of the financial system is the interbank payment system. This paper develops a robust measure, SinkRank, that...

Korea's National Pension Fund (NPF) is projected to be in deficit by the 2040s and exhausted by the 2050s. Increasing contribution rates may be unaffordable, prompting consideration of structural reforms, particularly shifting from a defined benefit (DB) to a defined contribution (DC) system....

The origins of national accounting can be traced back to the 17th century. However, modern national accounts have largely developed since the late 1940s, although some initial forays commenced a couple of decades earlier. The three most important standards for the economic accounts are those for...

This paper examines the impact of the COVID-19 pandemic on gross fixed capital formation across the euro area. The empirical analysis suggests that the intensity of the lockdown measures to contain the spread of the virus and the country-specific structure of the economy along with other...

In recent years, research on the synchronization of business cycles in economies has been undertaken more than once. This is a desirable phenomenon especially for the European Union. The aim of the article is to verify selected macroeconomic indicators that characterize the economies of...

The collapse of the USSR significantly affected the economic and political situation of all the republics which gained sovereignty as a result. Among them were countries such as Estonia and Kazakhstan. This article considers whether these countries have coped with the new political conditions....

Im Koalitionsvertrag der Bundesregierung ist festgehalten, dass die Details der Schuldenbremse und vor allem die Regeln zur Bestimmung des Produktionspotenzials überprüft werden sollen. Insbesondere die Methodik zur Berechnung der konjunkturellen Defi zite wird diskutiert, da diese...

In the production function-based approach proposed by the European Commission for the estimation of the potential output, trend total factor productivity (TFP) is indirectly estimated on the basis of cyclical factors. Instead, this article proposes a more economics-based foundation of trend-TFP...

Potential output is a measure of the longer-term production possibilities of an economy. Since this quantity cannot be observed directly, it must be determined on the basis of assumptions from existing data. The use of a production function was established in the European Commission's procedure...