Universitäten und andere Hochschulen haben prägende Wirkung auf die Städte und Regionen, in denen sie angesiedelt sind. Neben unmittelbaren Effekten als großer Arbeitgeber und Nachfrager nach Gütern und Dienstleistungen ergeben sich mittelbare Effekte durch die Ausgaben der Beschäftigten...

The financial and economic crisis has drawn attention to the need for a better understanding of destabilising effects that arise in the financial sector and spill over to the real economy. In turn, weakening economic conditions are likely to feed back to the financial sector, thus giving rise to...

Gegenstand der Studie ist die Quantifizierung des gleichsam automatischen Einflusses der wirtschaftlichen Entwicklung auf einzelne Budgetkomponenten und das Budget insgesamt, um den Effekt einer hypothetischen Änderung in der Entwicklung des Outputs auf das Budget und das Defizit abzuschätzen...

There is evidence that estimates of long-run impulse responses of structural vector autoregressive (VAR) models based on long-run identifying restrictions may not be very accurate. We compare structural VAR impulse response estimates based on long-run and short-run identifying restrictions and...

This article investigates the construction of skewness-adjusted confidence intervals and joint confidence bands for impulse response functions from vector autoregressive models. Three different implementations of the skewness adjustment are investigated. The methods are based on a bootstrap...

Falsifications of survey data might result in specific statistical properties of the generated data differing from those of the surveyed population. Clustering methods have been proposed to identify potential falsifications based on such indicators. As any statistical procedure, the...

Business tendency survey indicators are widely recognized as a key instrument for business cycle forecasting. Their leading indicator property is assessed with regard to forecasting industrial production in Russia and Germany. For this purpose, vector autoregressive (VAR) models are specified...

This paper proposes a new non-parametric method of constructing joint confidence bands for impulse response functions of vector autoregressive models. The estimation uncertainty is captured by means of bootstrapping and the highest density region (HDR) approach is used to construct the bands. A...

This paper proposes a new non-parametric method of constructing joint confidence bands for impulse response functions of vector autoregressive models. The estimation uncertainty is captured by means of bootstrapping and the highest density region (HDR) approach is used to construct the bands. A...