We study the macroeconomic effects of monetary policy during financial crises using a Bayesian panel vector autoregressive (PVAR) model for 20...

We provide a systematic analysis of the transmission of fiscal consolidation via various instruments in a medium-scale dynamic general...

Hours per capita measures based on the private sector as usually included in the set of observables for estimating macroeconomic models are...

Globalization influences inflation and the transmission channels of monetary policy in various ways. The effects of globalization on the...

In the aftermath of the global financial crisis, the state of macroeconomicmodeling and the use of macroeconomic models in policy analysis has...

We propose a simple modification of Hamilton’s (2018) time series filter that yields reliable and economically meaningful real-time output gap...

This paper investigates the accuracy and heterogeneity of output growth and inflation forecasts during the current and the four preceding...

We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation...

We estimate the impact of climate change on agricultural production in a panel of 127 countries from 1961 to 2002. In contrast to the existing...

We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation...

We study the forecasting performance of three alternative large data forecasting approaches. These three approaches handle the dimensionality...

The standard search model of unemployment predicts, under realistic assumptions about household preferences, that disembodied technological...

The ECB’s recently launched Expanded Asset Purchasing Programme is similar to the quantitative easing programmes undertaken by the US Federal...

KKB 35: The pronounced expansion of the German economy accelerates further. Compared to our summer forecast, we adjust our forecast for the...

We analyze cyclical co-movement in credit, house prices, equity prices, and long-term interest rates across 17 advanced economies. Using a...

KKB 44: The strong economic upswing in Germany has taken a break. For the current year, we revise our GDP growth forecast down by 0.5...

This paper illustrates, based on an example, the importance of consistency between empirical measurement and the concept of variables in...

The effects of monetary policy during financial crises differ substantially from those in normal times. Using a panel VAR for 20 advanced...

The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently below the...

The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently below the...