This paper analyzes the pass-through from import prices to consumer price index (CPI) inflation in real time. Our strategy follows an event-study approach that compares inflation forecasts before and after import price releases. Inflation forecasts are modeled using a dynamic factor procedure...

This paper proposes a new procedure for shock identification of macroeconomic forecasts based on factor analysis. Our identification scheme for information shocks relies on data reduction techniques for daily panels and the recognition that macroeconomic releases exhibit a high level of...

This paper develops a formal strategy to calculate current accounts with retained earnings (RE) on equity investment and analyzes their adjustment during the global financial crisis. RE are the part of companies' profits which are reinvested and not distributed to shareholders as dividends....

Does global currency volume increase on days when the Federal Open Market Committee (FOMC) meets? To test the hypothesis of excess currency volume on or around FOMC days, we use a novel data set from the Continuous Linked Settlement (CLS) Bank. The CLS measure captures roughly half of the global...

Survey information on Swiss exporters is used to test the hypothesis that firm-specific factors, in particular firm size, are important determinants of pricing- to - market (PTM). The survey asked exporters whether they set different prices across markets and, if so, whether price segmentation...

Im Kern des Urteils des Bundesverfassungsgerichts lag die Generationengerechtigkeit: Die Kosten des Klimaschutzes sollen nicht hauptsächlich zukünftigen Generationen aufgebürdet werden. Ein Blick auf die volkswirtschaftliche Kosteneffizienz unterstreicht, dass stärkere kurzfristige...

Mit einem jährlichen Investitionsvolumen von knapp 500 Milliarden Euro geht von der öffentlichen Beschaffungin Deutschland ein enormes Potenzial für den Erwerb klimafreundlicher Produkte und Dienstleistungen aus. Auf diese Weise können durch öffentliche Investitionen nicht nur...