The marked turnaround in Russia's foreign trade in 2023 exerted strong downward pressure on the Russian rouble, which lost around 30% of its value. Global oil prices were declining in the first half of the year, the EU import embargo on Russian oil depressed prices even further; and on top of...

This study discusses whether climate risk, in the form of physical risk and transition risk, may cause an appreciation or depreciation of the Norwegian krone. Exchange rates reflect relative prices between money, goods, and services of different countries. Since countries vary greatly in their...

This study discusses whether climate risk, in the form of physical risk and transition risk, may cause an appreciation or depreciation of the Norwegian krone. Exchange rates reflect relative prices between money, goods, and services of different countries. Since countries vary greatly in their...

Die Terms-of-Trade (ToT) bezeichnen das Tauschverhältnis von Warenimporten zu Warnexporten, also die Relation von Export- zu Importpreisen. Das Einwirken gegenläufiger Kräfte führte in Österreich dazu, dass sich die ToT im langfristigen Vergleich relativ stabil entwickelten. Die vorliegende...

This study seeks to determine the extent to which countries of the former Soviet Union are infected” by the Dutch Disease. We take a detailed look at the functioning of the transmission mechanism of the Dutch Disease, i.e. the chains that run from commodity prices to real output in...

The transition countries approach EU enlargement with GDP growth outperforming the 'old' EU. In 2003, Poland's economy resumed quite strong growth after two years of stagnation. Growth accelerated also in the Czech Republic, while it experienced some moderate slowdown in Romania, Bulgaria,...