Hans-Werner Sinn hat wie kein anderer in den letzten Jahrzehnten die wirtschafts- und sozialpolitischen Debatten in Deutschland und Europa geprägt. Er gilt als einer der wichtigsten Köpfe der Bundesrepublik und als einflussreichster Ökonom im deutschsprachigen Raum, seine Leistungen auf der...

In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle' that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have...

The September performance of the DAX (German stock market index) was found to be below average in the period from 1959-1999. This finding is shown to be robust to several changes in the empirical specification. None of the variables under consideration - elections, risk premia and German...

Using a time series framework, the paper studies the interactions of the annual real per capita GDP data of the G7 countries. Evidence is found of six common nonstationary processes behind the international output dynamics. In addition, there is evidence for the existence of a common business...

In this paper, we re-evaluate the hypothesis that the introduction of the IFRS has an impact on the timeliness of loss recognition. We test this hypothesis in a data set of public German firms that report according to German-GAAP and IFRS, respectively. The parallel use of the two accounting...

In this paper we re-investigate the comovements of interest rates in the G7-countries. We propose a structured modus operandi to analyze the time series characteristics of interest rates and to test for common features. We conduct cointegration, serial correlation common feature and codependence...

We evaluate the proposal for official dollarization in Costa Rica by applying a new approach to measure the business cycle comovements with the United States. While the literature often focuses on the correlation of shocks, we point out that the response of each country to the shocks is also an...

In this paper, we contrast two different views in the debate on official dollarization. The Mundell (1961) framework of optimal currency areas and a model on boom-bust cycles, by Schneider and Tornell (2004), who take account of credit market imperfections prevalent in middle income countries....