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...

Teil eines neuen Koalitionsvertrages werden neue Ausbauziele für die Erneuerbaren Energien sein müssen - vor allem aber auch wirksame Maßnahmen zu deren Umsetzung. Der bisherige Ausbaupfad reicht für die selbstgesteckten Klimaziele nicht aus und würde deutliche ökologische Mehrkosten für...

To the surprise of many market watchers, Thailand's exchange-rate peg to the dollar collapsed in July 1997, leading to similar rounds of currency devaluations in other East Asian countries. This study seeks to determine if there were identifiable contrasts in implementation between Thailand's...

In this article, we demonstrate that a small degree of stochastic variation in the depreciation rate of capital can greatly reduce the comovement between hours worked and labor productivity in a neoclassical growth model. The depreciation rate is modeled as a Markov process to place a strict...

Reuters news reports have become an accepted tool for empirical studies analyzing informational asymmetries in FX markets. This paper tests the accuracy of the Reuters reports for Swiss interventions in the foreign exchange market. The evidence finds that the time stamp of the Reuters reports...

This note sheds new light on the dynamic properties of maintenance and repair and examines the behavior of an additional form of capital spending - that of improvements. The analysis examines a unique long-run data set on Swiss road spending.

In this paper, we examine long-run determinants of cross-country variation in reserve volatility for 30 emerging market economies from 1973 to 2000. Reserve holdings and openness are found to be the most important explanatory variables of reserve volatility. The empirical results are robust for...