The paper evaluates the quality of the German national accounting data (GDP and its use-side components) as measured by the magnitude and dispersion of the forecast/ revision errors. It is demonstrated that government consumption series are the least reliable, whereas real GDP and real private...

This paper investigates the income convergence among Russian regions in the period 1998-2006. It makes two major contributions to rather extensive literature on the regional convergence in Russia. First, it identifies spatial regimes using the exploratory spatial data analysis. Second, it...

Die geplante Stärkung der Eigenverantwortlichkeit der Länder im Zuge der Föderalismusreformen wird zu einem erhöhten Bedarf an Konjunkturprognosen für Bundesländer führen. Während in Deutschland für die Konjunkturbeobachtung auf gesamtstaatlicher Ebene Quartalsdaten zur Verfügung...

Die vorliegende Bewertung der Treffgenauigkeit von Prognosen sowie von vorläufigen amtlichen Berechnungen zur wirtschaftlichen Entwicklung in Deutschland zeigt, dass frühe Prognosen nicht nur sehr ungenau sind, sondern auch systematisch zu optimistisch ausfallen. Die mehr als ein Jahr im...

Our study represents a first attempt to single out the effects of aging on the entire structure of the economy that is approximated by employment shares in different sectors. We find that even after controlling for the effects of other relevant factors—e.g. income per capita, share of trade in...

The paper evaluates the quality of the German national accounting data (GDP and its use-side components) as measured by the magnitude and dispersion of the forecast/ revision errors. It is demonstrated that government consumption series are the least reliable, whereas real GDP and real private...

The role of the housing market in the everyday life of society is difficult to overestimate. The housing rents and prices directly affect standard of living of virtually every person. Housing loans constitute the largest liability of households and account for a large proportion of bank lending....

We suggest an alternative indicator based on the car sales price placed on the Internet for measuring economic inequality among regions. The regional data on car prices in Germany were downloaded from two specialised websites http://www.mobile.de and http://www.autoscout24.de in December 2011....

In this paper, we make multi-step forecasts of the annual growth rates of the real GDP for each of the 16 German Länder (states) simultaneously. Beside the usual panel data models, such as pooled and fixed-effects models, we apply panel models that explicitly account for spatial dependence...