The costs and benfits of moving from a flexible exchange rate regime to a monetary union depend critically on the conduct of monetary policy. In particu

KKB 63: In early 2020 the world economy is severely affected by the consequences of a novel coronavirus and the measures implemented to arrest its spreading. With the progressive diffusion around the globe, action designed to contain the disease are...

KKB 61: World output growth has slowed further in the course of 2019. However, most recently signs of stabilization appeared, especially in emerging economies where expectations seem to have started to improve.

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

KKB 57: In the first half of 2019, world economic activity has remained sluggish. While economic activity in the industrial countries decelerated in the course of the year, growth in the emerging economies picked up slightly from a low base.

KKB 1: Die weltwirtschaftliche Expansion ist im Verlauf des Jahres 2014 erneut ins Stocken geraten. Von einem Aufschwung, der von allen Regionen getragen wird,

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

KKB 13: Global growth slowed in 2015. While we forecast the world economy to gradually gain momentum over the coming two years, the upturn is expected to be slo

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 economies. World GDP will incr