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

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

Kiel Policy Brief No. 79: The recent decline in euro area inflation has triggered new calls for additional monetary stimulus in order...

In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In...

Policymakers use forecasts to project the consequences of particular policy decisions for certain policy targets. This chapter...

Monetary policy rule parameters estimated with conventional estimation techniques can be severely biased if the estimation sample...

Monetary policy rule parameters are usually estimated at the mean of the interest rate distribution conditional on inflation and an...

This paper explores the role of trade integration—or openness—for monetary policy transmission in a medium-scale new Keynesian model....

The slow recovery following the 2008/2009 recession has led to renewed interest in the question whether deep recessions lower real GDP...

The slow recovery following the 2008/2009 recession has led to renewed interest in the question whether deep recessions lower real GDP...

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...

This paper investigates the accuracy of forecasts from four DSGE models for inflation, output growth and the federal funds rate using...

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...

KKB 7: Following a weak start into 2015, the global economy is expected to pick up again in the course of this year. ...

KKB 9: The world economy is expanding at a more moderate pace with growth momentum continuing to shift from emerging to advanced...

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

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

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