This paper analyzes volatility spillovers in multivariate GARCH-type models. We show that the cross-effects between the conditional variances determine the persistence of the transmitted volatility innovations. In particular, the influence of a foreign volatility innovation on a conditional...

In this paper, we assess the accuracy of macroeconomic forecasts at the regional level using a unique data set at quarterly frequency. We forecast gross domestic product (GDP) for two German states (Free State of Saxony and Baden-Württemberg) and Eastern Germany. We overcome the problem of a...

This paper assesses the role of financial variables in real economic fluctuations, in view of analysing the link between financial cycles and business cycles at the global level. A Global VAR modelling approach, which has been proved suitable for modelling country or regional linkages, is used...

We analyze existing definitions of carbon leakage and propose a new rigorous one. This is then tested using computable general equilibrium analysis for unilateral carbon dioxide abatement programs in the European Union in 2020, adopted under the United Nations Framework Convention on Climate...

This study aims at unveiling regional development differences in Norway with respect to various natural resource-based activities that take place in the NUTS3 regions. Norway's natural riches range from agricultural and forest resources to fisheries, mines, petroleum and gas. Considering the...

This paper explores the regional economic impact of mineral resource endowment and offers specific inputs to the debate on the local content requirement (LCR) policy, gaining urgency in modern economic and political environment. Focusing on the experience of the Eastern Siberia the paper...

The major reason of economic depression of old industrial regions is the aging of their economic structure and loss of competitive advantages of their basic sectors. Not the sectors of the regional economy are getting old but determined by economic age conditions of their development in the...

We study the spatial distribution of the effect of oil and gas revenues on Brazilian municipalities, using variations in the international prices of oil and gas to establish causality. Oil and gas revenues increase economic activity, measured by night-time light emissions, in oil-producing...

The aim and scope of this paper is to isolate the effects of population ageing in the context of potential Scottish independence. Fiscal challenges are often quoted as a strong argument against independence. Demographic processes play an important role in determining future economic growth via...

O crescimento econômico tem sido uma das grandes questões da sociedade atual. Desde 2008 as grandes potências vêm enfrentando dificuldades para retornar ao ciclo de desenvolvimento pelo qual passavam antes da crise mundial afetando os países emergentes que, por sua vez, devem buscar uma...