We estimate the sticky information Phillips curve model of Mankiw and Reis (2002) using survey expectations of professional...

In this paper we analyze the effects of external shocks on countries in Emerging Asia. For that purpose, we estimate a Bayesian Vector...

We investigate the relevance of the Carroll’s sticky information model of inflation expectations for four major European economies...

This paper investigates the relevance of the sticky information model of Mankiw and Reis (2002) and Carroll (2003) for four major...

Most pure public goods like lighthouses, dams, or national defense provide utility mainly by insuring against hazardous events. Our...

This paper presents a simple experiment on how laypeople form macroeconomic expectations. Subjects have to forecast inflation and GDP...

This paper presents a simple experiment on how laypeople form macroeconomic expectations. Subjects have to forecast inflation and GDP...

We present a new theory of decision under uncertainty: third-generation prospect theory (PT3). This retains the predictive power of...

We analyze the dynamics in the global crude oil market based on a structural vector autoregressive model. We identify the model by...

I analyze spillover effects from Euro area monetary policy shocks to thirteen EU countries outside the Euro area, i.e., ten countries...

We analyze the international transmission of financial stress and its eff ects on global economic activity. Our analysis is based on...

Kiel Policy Brief No. 25: In response to the recent global recession triggered by the financial crisis of 2007, many governments have...

While European countries have engaged in a debate about fiscal policy rules, little is known about the ability of these rules to...

Banks have become increasingly interconnected via interbank credit and other forms of liabilities. As a consequence of the increased...

We use weekly survey data on short-term and medium-term sentiment of German investors in order to study the causal relationship...

We use weekly survey data on short-term and medium-term sentiment of German investors in order to study the causal relationship...

This paper analyses the importance of global shocks for the global economic developments and national policymakers from a novel...

Most pure public goods like lighthouses, dams, or national defense provide utility mainly by insuring against hazardous events. Our...