We formulate a simple theoretical model of a banking industry that we use to identify and construct theory-based measures of systemic bank shocks (SBS). These measures differ from 'banking crisis' (BC) indicators employed in many empirical studies, which are constructed using primarily...

This paper characterizes the business cycle as a recurring Markov chain for a broad set of developed and developing countries. The objective is to understand differences in cyclical phenomena across a broad range of countries based on the behavior of two key economic times series - industrial...

Deutschland auf dem langen Weg zu smarter Regulierung. Als Wirtschaftsstandort hat Deutschland in den letzten Jahren kontinuierlich an Attraktivität verloren. War das Land aus Unternehmenssicht seit jeher ein Standort mit hohen Steuern und Arbeitskosten, so hat sich der Kostennachteil bei den...

This paper discusses various ways of measuring corporate internationalisation. The concepts considered here became of crucial importance in the recent debate on globalisation, since many scholars link globalisation to a quantitative increase in the international activities of firms.(...)

In the debate on globalization it is often argued that multinational corporations (MNCs) have gained increasing power due to their growth and due to new global or transnational structures and strategies.(...)

Diese Bachelorarbeit führt in den Themenkomplex Wohlstand und dessen Messung ein. Es wird gezeigt, wer oder was heutzutage als „wohlhabend“ bezeichnet werden kann. Es wird der Frage nachgegangen, ob das Bruttoinlandsprodukt das geeignete Messinstrument für Wohlstand ist. Dazu wird sich...

We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary policy indicators based on different residuals...

The empirical literature on nominal exchange rates shows that the current exchange rate is often a better predictor of future exchange rates than a linear combination of macroeconomic fundamentals. This result is behind the famous Meese-Rogoff puzzle. In this paper we evaluate whether parameter...

With its 21 variables, the new composite globalisation index presented in this paper accounts for the multidimensionality of this phenomenon instead of relying purely on economic indicators. As compared to other existing globalisation indices, three major innovations are introduced: First, five...

This paper describes the methodologies used for constructing a composite leading indicator for the Austrian economy (CLI-AT). First, a selection of those monthly indicators which overall fare best in showing a "steady" leading behaviour with respect to the Austrian business cycle was performed....