(Panel) Smooth Transition Regressions substantially gained in popularity due to their flexibility in modeling regression coefficients...

This paper analyzes Germany’s unusual labor market experience during the Great Recession. We estimate a general equilibrium model with...

We identify the effects of the supply of mortgage credit on house prices, using the politicallydirected credit-targeting regime of...

This paper studies the effects of protectionism as a business cycle instrument. In normal times, protectionism reduces international...

Motivated by the increased importance of trade between industrialized and less-developed countries, we build a DSGE model featuring...

We study the macroeconomic effects of monetary policy during financial crises using a Bayesian panel vector autoregressive (PVAR)...

I empirically analyze the dynamics of business investment following normal recessions (declines in business investment that are not...

To determine the possible welfare gains from macroeconomic stabilization policy, we adapt the ap- proach of Lucas (2003) with a...

Using real-time data, we analyze how the systematic expectation errors of professional forecasters in 19 advanced economies depend on...

We investigate whether recoveries following normal recessions differ from recoveries following recessions that are associated with...

This paper studies the role of labor market institutions in business cycle fluctuations. We develop a DSGE model with search and...

Die weltwirtschaftliche Expansion ist im Verlauf des Jahres 2014 erneut ins Stocken geraten. Von einem Aufschwung, der von allen...

Die weltwirtschaftliche Dynamik war zu Beginn des Jahres 2014 gering. Indikatoren lassen für das zweite Quartal aber eine wieder etwas...

Die Weltkonjunktur ist seit Mitte 2013 aufwärtsgerichtet. In den fortgeschritten Volkswirtschaften dürfte sich die Erholung in diesem...

This paper extends the efficiency wages/partially adaptive expectations Phillips curve, otherwise known as the price-price Phillips...

Die Aussichten für die Weltwirtschaft haben sich zum Jahreswechsel 2013/2014 aufgehellt. Faktoren, die die Weltkonjunktur in den...