Die volkswirtschaftlichen Kosten verschiedener energiewirtschaftlicher Strategien hängen wesentlich von der Reaktion der Nachfrage ab. Vor diesem Hintergrund geht die KOF Studie in einer Literaturübersicht dem Teilaspekt der volkswirtschaftlichen Anpassung über die Auswirkungen der Änderung...

This paper attempts to find an aggregate leading indicator to predict the spreads observed for high-yield (HY) bond indices. Using a vector error correction (VEC) specification for quarterly data, we establish a long-term equilibrium relationship between the HY market spreads and its...

: Using the Markov-regime switching technique, this paper attempts to explain what drives the US gross fixed capital investment at an aggregate level. The focus of the paper is on the role of the cost of capital in determining the probability of switching between high and low investment-growth...

This paper attempts to find an aggregate leading indicator to predict the spreads observed for high-yield (HY) bond indices. Using a vector error correction (VEC) specification for quarterly data, we establish a long-term equilibrium relationship between the HY market spreads and its...

This study investigates the extent to which transformation of mortgage credit into real estate investment is influenced by various factors such as property prices and mortgage interest rates. Our analysis also attempts to clarify if mortgage credit might have been a contributing factor to the...

Dieser Beitrag untersucht für die Schweiz die Funktionsweise des Bankkredit- Kanals – eine Problematik, die in der Subprime-Krise 2007/ 08 und der dadurch ausgelösten Rezession unter dem Stichwort «Kreditklemme» viel Beachtung erhielt. Anhand von vierteljährlichen Daten zu den Faktoren,...

The paper investigates the nexus between inventory investment and the change in aggregate production for 29 European countries over the period 2000-2009. A special interest is taken in the Great Recession of 2008/09. For most countries, a fairly uniform pattern emerges. Inventory investment is...

In their introduction to the special issue of the Review of Economic Dynamics on Great Depressions of the 20th Century (Vol. 5, 2002), Timothy J. Kehoe and Edward C. Prescott argue that in the last few years great depressions have hit two rich countries: New Zealand and Switzerland. We briefly...