This paper explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques accounting for international spillovers are employed. While private and public capital stocks are cointegrated, the...

This paper explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques accounting for international spillovers are employed. While private and public capital stocks are cointegrated, the...

Nachdem die deutsche Wirtschaft 2011 noch um drei Prozent gewachsen ist, sind die Aussichten für 2012 durch die Krise im Euroraum überschattet. Dadurch wird der kräftige Aufschwung unterbrochen, obwohl die Kapazitäten bis zuletzt nicht voll ausgelastet waren. Vorübergehend wird die deutsche...

The Greek government budget situation plays a central role in the debt crisis in the euro area. The debt to GDP ratio is above 150 percent, while the deficit to GDP ratio exceeds 10 percent. To re-establish the Maastricht criteria, respectively, strong consolidation measures need to be...

This paper explores the long run relationship between public and private investment in the euro area in terms of capital stocks and gross investment flows. Panel techniques ac-counting for international spillovers are employed. While private and public capital stocks are cointegrated, the...

Im Jahr 2014 dürfte die deutsche Wirtschaft um 1,8 Prozent wachsen. Im kommenden Jahr wird das Bruttoinlandsprodukt mit 2,1 Prozent noch etwas stärker steigen. Dabei baut die Produktionslücke sich in diesem Jahr deutlich ab, ist jedoch erst im kommenden Jahr wieder geschlossen. In diesem...

In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

In line with the neoclassical growth model a persistent stream of oil revenues might have a long lasting impact on GDP per capita in oil exporting countries through higher investment activities. This relationship is explored for Iran and the countries of the Gulf Cooperation Council (GCC) using...

This paper investigates the usefulness of the money demand relationship in times of unconventional monetary policies by cointegration methods. In contrast to the bulk of the literature, evidence in favour of a stable long run money demand function is presented both for the US and the euro area....