Some recent empirical studies deny any direct effect of geography on development and conclude that institutions dominate all other...

Some recent empirical studies deny any direct performance effects of measures of geography and conclude that institutions trump all...

We combine the augmented Solow model with the Mincer equation to derive a specification that identifies an education externality...

We combine the augmented Solow model with the Mincer equation to derive a specification that identifies an education externality...

This paper investigates the relative small sample performance of several robust unit root tests by means of a simulation study. It is...

This paper proposes a model of the term structure with nonstationary term premia which exhibit a factor structure. This explains the...

In this paper we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We...

In this paper we analyze money demand in the four largest EMU countries. In addition, we study a four-country (EMU-4) aggregate. We...

Changes in foreign asset holdings are one channel through which agents adjust to macroeconomic shocks. In this paper, we test whether...

Changes in foreign asset holdings are one channel through which agents adjust to macroeconomic shocks. In this paper, we test whether...

In this paper, it is analyzed whether core money growth helps to predict future inflation in a useful and reliable way. Using an...

This paper analyzes the question whether money demand in the Euro area has undergone a structural change in the recent time when M3...

In diesem Beitrag wird die Inflationsrate in Deutschland mit Hilfe eines Common Trends Modells untersucht. Ausgehend von einem IS-LM...

This paper uses dynamic panel data methods to examine the determinants of Foreign Direct Investment (FDI) into Central and Eastern...

In this paper we analyze the forecasting ability of the term structure with respect to future inflation in Germany. In contrast to...

This paper estimates the policy reaction function of the European Central Bank in the first four years of EMU using an ordered probit...

In May 2003 the European Central Bank (ECB) announced the revision of its monetary policy strategy. Although the ECB stressed that the...