The U.S. economic recovery lost steam in the first half of 2012. Whereas positive signals have been coming from the real estate sector in recent months, the uptrend in the labor market has not gained a stable foothold yet. Up to now, domestic demand has been the main engine of economic growth....

Limited access to finance is one of the main obstacles for firms located in the Western Balkans and hampers economic growth as well as the transmission of monetary policy. The aim of this paper is to undertake an in-depth analysis of access to finance constraints in this region, where countries...

Large swings in cross-border capital flows can have consequences for domestic stability and open a channel for the transmission of shocks and spillovers across economies, including the euro area. Against this backdrop, the present paper reviews new evidence for the effectiveness of capital flow...

Large swings in cross-border capital flows can have consequences for domestic stability and open a channel for the transmission of shocks and spillovers across economies, including the euro area. Against this backdrop, the present paper reviews new evidence for the effectiveness of capital flow...

The U.S. economic recovery lost steam in the first half of 2012. Whereas positive signals have been coming from the real estate sector in recent months, the uptrend in the labor market has not gained a stable foothold yet. Up to now, domestic demand has been the main engine of economic growth....

In this study we evaluate the forecast performance of model averaged forecasts based on the predictive likelihood carrying out a prior sensitivity analysis regarding Zellner’s g prior. The main results are fourfold: First the predictive likelihood does always better than the traditionally...