In this paper we assess the information content of seven widely cited early indicators for the euro area with respect to forecasting area-wide industrial production. To this end, we use various tests that are designed to compare competing forecast models. In addition to the standard...

Nordhaus (2008) has developed a testing strategy for what he calls "Baumol's diseases", by which name he designates a number of by-products of structural change that are unwanted from an economic policy perspective. He finds that the U.S. economy is strongly affected by the "diseases". This...

The financial and banking crises in USA in late 2007 led to a decline in economic activities in the industrialized countries, triggering a world-wide recession since then. The ongoing global economic downturn has brought into sharp focus the subject of macroeconomic interdependence of Pacific...