We revisit the factors of convergence and growth in Central, Eastern and South Eastern Europe (CESEE). While the key elements that were driving pre-crisis convergence - rapid export growth, propelled by low wages, capital inflows and technology import, and catalysed by the EU accession - gave a...

Der Bericht gibt aus makroökonomischer und mikroökonomischer Sicht Aufschluss über die Entwicklung der Investitionstätigkeit und die Finanzierung von Investitionsvorhaben in den Ländern Mittel-, Ost- und Südosteuropas in den letzten zwanzig Jahren. Wir behandeln insbesondere die Fragen,...

Macro-based asset allocation, i.e., the identification of turning points in macro-financial cycles and the allocation of assets accordingly, has attracted a lot of interest in recent years. This interest was sparked by volatile financial markets, more synchronized returns across asset classes...

We discuss the proper definition of the spin current operator in Heisenberg magnets subject to inhomogeneous magnetic fields. We argue that only the component of the naive “current operator” <InlineEquation ID="Equ1"> <EquationSource Format="TEX">$J_{ij}{\vec S}_i\times{\vec S}_j$</EquationSource> </InlineEquation> in the plane spanned by the local order parameters <InlineEquation ID="Equ2"> <EquationSource...</equationsource></inlineequation></equationsource></inlineequation>