The Eurosystem has been pursuing a crisis management policy for more than four years now. This policy aims primarily at maintaining...

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

In this paper we investigate the effects of uncertainty shocks on economic activity using a Dynamic Stochastic General Equilibrium...

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. 36: The period of imported price stability in the advanced economies may come to an end soon as inflation in...

Kiel Polity Brief No. 51: The monetary policy authorities of the Eurosystem have been operating in crisis mode for more than four...

The financial crisis 2008-2009 and the European sovereign debt crisis have shown that stress on financial markets is important for...

This paper implements capital in an endogenous separations New Keynesian matching model. We propose a more general approach, such that...

The European Central Bank (ECB) continues its low interest rate policy. Since it relies on the average price development in the euro...

he financial crisis and the European sovereign debt crisis have shown that financial stress may be an important driver for economic...

We analyze the international transmission of financial stress and its effects on economic activity. We construct country specific...

Kiel Policy Brief No. 24: The authors argue that the fixation on indices or growth rates in the current discussion around price...

Kiel Policy Brief No. 58: The reason why the Euro zone crisis has dragged on for so long is that Europe's leaders have focused too...

Kiel Policy Brief No. 58a: The reason why the Euro zone crisis has dragged on for so long is that Europe's leaders have focused too...

7: The European Macroeconomic Imbalance Procedure aims to identify macroeconomic risks at an early stage and prevent the build-up of...

5: The report addresses potential effects on the German economy by the extremely expansionary monetary policy of the Eurosystem with...

2: After the reunification, in Germany economic growth was weak from a historical as well as international perspective. In particular,...