In der amtlichen Statistik Deutschlands kam es im Berichtszeitraum 2008/2009 zur Anwendung einer neuen Wirtschaftszweigklassifikation. Um die Vergleichbarkeit zu gewährleisten, mussten die Ergebnisse des ifo Konjunkturtests ebenfalls angepasst werden. Für Sachsen und Ostdeutschland zeigen sich...

A dynamic stochastic general equilibrium model is constructed and calibrated to the Canadian economy. Technology disturbances from the Canadian economy are filtered through the model and used to generate artificial time series. Output growth in the model is then decomposed into the share...

This note analyzes the recent global recession: its causes, the predictability of the timing of its start and of its end, and the implications for macro policy. These follow from the general-equilibrium macro model of Abadir and Talmain (2002) and its implications for a new type of...

Development of an economic situation last 20 years has passed in Latvia through various stages. Including - Post-Soviet re-structuring of demand and closing of industrial giants; development of the economy based on transit; development of craft manufacture, small enterprises and branch of...

This paper analyses the adjustment mechanism in the euro area. Results show that the real exchange rate (REER) adjusts in such a way to redress cyclical divergences and that after monetary unification REER dynamics have become less reactive to country-specific shocks but also less persistent. It...

This study approaches the survival ability of firms in the North region of Portugal from 1985 to 2007, allowing regional and national comparisons through the application of non-parametric and semi-parametric methods. This analysis is based on the creation of a specific entrepreneurship database,...

This paper examines the relationship between US disposable personal income (DPI) and house price index (HPI) during the last twenty years applying fractional integration and long-range dependence techniques to monthly data from January 1991 to July 2010. The empirical findings indicate that the...

This paper studies how non-Gaussian shocks affect risk premia in DSGE models approximated to second and third order. Based on an extension of the results in Schmitt-Grohé & Uribe (2004) to third order, we derive propositions for how rare disasters, stochastic volatility, and GARCH affect any...

This paper assesses the role of sovereign risk in explaining macroeconomic fluctuations in Turkey. We estimate two versions of a simple New Keynesian small open economy model on quarterly data for the period 1994Q3-2008Q2: A basic version and a version augmented by a default premium on...

The 2008 global financial crisis was the consequence of the process (1) of financialization, or the creation of massive fictitious financial wealth, that began in the 1980s; and (2) the hegemony of a reactionary ideology-namely, neoliberalism-based on self-regulated and efficient markets....