This article introduces a new econometric model that includes an innovative measure of intersectoral structural change. This model...

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

This article investigates whether China’s foreign aid is particularly prone to capture by political leaders of aid-receiving...

This article investigates whether China’s foreign aid is particularly prone to capture by political leaders of aid-receiving...

We quantify the contemporaneous relationships among stock markets in the euro area, the United States, and a group of emerging...

A large share of global trade being priced and invoiced primarily in US dollar rather than the exporter's or the importer's currency...

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events...

The 2008 financial crisis was devastating to the world economy. But the biggest cost of the crisis might be not economic but...

Populism at the country level is at an all-time high, with more than 25% of nations currently governed by populists. How do economies...

Germany is world champion in exporting capital (“Exportweltmeister”). No other country invests larger amounts of savings outside its...

This paper introduces a new dataset of official financing — including foreign aid and other forms of concessional and non-concessional...

One goal of China’s Go Out policy is to create goodwill in countries around the world. At the same time, China’s growing economic...

We study central bank interventions in times of severe distress (mid-2010), using a unique bond-level dataset of ECB purchases of...

Sovereign governments owe debt to many foreign creditors and can choose which creditors to favor when making payments. This paper...

Kiel Policy Brief No. 149: The authors conclude from their analysis that the EU-UK Trade and Cooperation Agreement is in the interest...

KBW 24: According to a recent German-French proposal, a financial market transaction tax (FTT) at a rate of 0.2% on the purchase of...

This paper studies external sovereign bonds as an asset class. We compile a new database of 220,000 monthly prices of foreign-currency...

This paper summarises recent trends in the international use of the euro and potential benefits and drawbacks of acquiring the status...