Global public good provision (e.g. environmental quality) confronts us with problems demanding both national and international co-operation. However among sovereign nations reaching agreement on mutual public good provision is difficult. Slowing down global warming is just one example. Due to...

This paper provides evidence for a significant relation between international financial markets' integration and output volatility. In the framework of a threshold model, it is shown empirically that this relation depends on country's financial risk. Financial risk indicates a country's ability...

In assessing Alexander Swoboda's great influence on economics, two themes stand out: the determinants of global inflation, particularly in the 1970s, and the choice of an exchange rate regime consistent with domestic monetary and fiscal policies. Although seemingly narrowly focused on China, our...

Religion is increasingly acknowledged to be a cultural dimension which affects economic outcomes in different regards. This contribution focuses on religion's possible impact on the shadow economy. Different dimensions of the religious markets are taken into account. These dimensions refer to...

Die globale Wirtschaftsleistung ist seit Beginn des Jahrtausends jährlich um durchschnittlich 3,6 % gestiegen. Wesentlich ist dies auf die Schwellenund Entwicklungsländer zurückzuführen, die zwischen 2000 und 2008 ein durchschnittliches Wachstum von über 6 % aufwiesen. Auch in der Krise...

Die Literaturanalyse sichtet Veröffentlichungen zum Thema Armut und Ernährung mit Schwerpunkt im Zeitraum von etwa 1980 bis 1994. Nach einer theoretischen Fundierung des Themas werden repräsentative Studien und qualitative Untersuchungen über Ernährungszustand und ernährungsabhängigen...

Existing multivariate GARCH models either impose strong restrictions on the parameters or do not guarantee a well-defined (positive definite) covariance matrix. We focus on the multivariate GARCH model of Baba, Engle, Kraft and Kroner (BE=) and show that the covariance and correlation is not...

We develop and empirically test a continuous time equilibrium model for the pricing of oil futures. The model provides a link between no-arbitrage models and expectation oriented models. It highlights the role of sufficient inventories for oil futures pricing and for the explanation of...