We study the potential role of correlated refinancing abilities among di.erent countries for the disruption of government bond markets in a currency union. Following Morris and Shin (2004) we use a global games framework and model the simultaneous investment decision into two assets, which are...

The outcome of the referendum on the UK's membership of the European Union in June 2016 was largely unanticipated by politicians and pundits alike. Even after the "Leave" vote, the uncertainty surrounding the withdrawal process might have affected the UK economy. We draw on an official list of...

We examine structural differences in growth vulnerabilities across countries associated with financial risk indicators. Considering trade openness, financial sector size, the public spending ratio and government effectiveness, our findings suggest the existence of a structural gap and a risk...

We examine structural differences in growth vulnerabilities across countries resulting from time-varying financial risk. Considering differences in trade openness, financial sector size, the public spending ratio and government effectiveness, our findings suggest the existence of both a...

In dieser Studie werden die Effekte von Geld- und Fiskalpolitik auf Konsumentenerwartungen in Szenarien von hohem und niedrigem öffentlichen Schuldenstand empirisch untersucht. In Reaktion auf einen Anstieg der Staatsausgaben steigen Konsumpläne bei niedrigem, fallen jedoch bei hohem...

We study how consumers assess the effects of monetary policy shocks in euro area countries using survey data. Our findings provide evidence that consumers form their expectations in a way that is consistent with empirical and theoretical models of the monetary transmission mechanism, both at the...

This book introduces students on Multiple Criteria Decision Aiding and Making courses to practical, real-world cases. Each case study introduces a problem or situation together with a method, and a description and explanation of a computer application. In this sense each chapter is based on four...