Against the backdrop of the recent surge in inflation, we discuss available measures of inflation expectations and implications for monetary...

The costs and benfits of moving from a flexible exchange rate regime to a monetary union depend critically on the conduct of monetary policy....

Governments often issue bonds in foreign jurisdictions, which can provide additional legal protection vis-à-vis domestic bonds. This paper...

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

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

We use a dynamic trade model with two sectors and two types of workers to analyze the optimal setting of income-generating tariffs. This...

We use a dynamic trade model with two sectors and two types of workers to analyze the optimal setting of income-generating tariffs. This...

If the monetary authority lacks commitment, a monetary union can dominate flexible exchange rates. With forward-looking staggered pricing,...

Volkswirtschaften spezialisieren sich typischerweise entlang ihrer komparativen Vorteile auf die Produktion bestimmter Güter. Dadurch können...

I analyze spillover effects from a Euro area monetary policy shock to fourteen European countries outside the Euro area. The analysis is based...

We analyze the correlations in patterns of trading for members of the Italian interbank trading platform e-MID. The trading strategy of a...

This paper investigates the impact of a changing market Environment on the pricing of CDS spreads written on debt from EURO STOXX 50 rms. A...

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

Not much cross-country evidence exists on the time-series behavior of individual fiscal instruments in response to the public debt and to...

We use a dynamic general equilibrium trade model with comparative advantage, heterogeneous firms, heterogeneous workers and endogenous firm...

The aim of this paper is to investigate theoretically how financial factors affect the international transmission mechanism. We build a...

The aim of this paper is to investigate theoretically how financial factors affect the international transmission mechanism. We build a...

The problems related to the application of multivariate GARCH models to a market with a large number of stocks are solved by restricting the...

This paper uses a microstructure approach to analyze the effectiveness of capital controls introduced in Brazil to counter an appreciation of...