World Economy: Slowdown in all major economic regions - Western Europe: Bleak economic climate - North America: Economic climate clouded - Eastern Europe: Expectations considerably less positive - CIS: Economic climate sharply deteriorated - Asia: Economic cooling - Oceania: Favourable economic...

World Economic Climate: World Economic Climate improves - Economic Expectations: Economic expectations predominantly positive - Inflation: Price increase expected to slow down - Currencies: Moderate rise of US dollar expected - Interest Rates: Sligthly higher long-term interest rates expected -...

World Economic Climate: World Economic Climate remains almost unchanged - Economic Expectations: Economic expectations barely improved - Inflation:Low inflation expectations - Currencies: US dollar expected to rise - Interest Rates: Interest rates look set to remain stable - Special Topic: Bank...

This paper provides novel evidence on the time varying impact of government spending shocks on output in Germany over the years 1970 to 2013. In a first step, I use an expectations-augmented vector autoregressive model with time varying parameters (TVP-VAR) to show that fiscal multipliers are...

In this paper I assess the ability of Bayesian vector autoregressions (BVARs) and dynamic stochastic general equilibrium (DSGE) models of different size to forecast comovements of major macroeconomic series in the euro area. Both approaches are compared to unrestricted VARs in terms of...

This paper explores the relationship between equity prices and the current account for 17 industrialized countries in the period 1980-2007. Based on a panel vector autoregression, I compare the effects of equity price shocks to those originating from monetary policy and exchange rates. While...

This article explores the relation between stock prices and the current account for 17 Organization for Economic Co-operation and Development (OECD) countries in 1980--2007. A panel Vector Autoregressive (VAR) model is used to compare the effects of stock price shocks to those originating from...

Aus Sicht der bonitätsschwachen Länder des Euroraums ist die Forderung nach Eurobonds verständlich. Denn die damit verbundene nominale Zinskonvergenz hätte den Effekt, dass die Zinsen der unsolideren Länder merklich sinken. Im Gegenzug müsste Deutschland, würde es in Zukunft Eurobonds...

This paper examines the time varying impact of technology news shocks on the U.S. economy during the Post-World War II era using a structural time varying parameter vector autoregressive (TVP-VAR) model. The identification restrictions are derived froma standard new Keynesian dynamic stochastic...

This paper explores the relation between stock prices and the current account for 17 OECD countries in 1980-2007. I use a panel vector autoregression (VAR) to compare the effects of stock price shocks to those originating from monetary policy and exchange rates. While monetary policy shocks have...