KBW 11: The persistently high German current account surpluses are subject to increasing international criticism based on the presumption that they are negative

Since the announcement of the outright monetary transactions program (OMT), government bond yield spreads have decreased substantially but have not fallen to pre-crisis levels. This paper argues that the debt-to-GDP ratio has become less relevant as...

Kiel Policy Brief No. 75: The current phase of low interest rates confronts German fiscal policy with a particular challenge. If monetary conditions induce a boom the risk will raise that the fiscal stance will be overstated by common methods.

KBW 5: The report addresses potential effects on the German economy by the extremely expansionary monetary policy of the Eurosystem with large liquidity flows into Germany. The authors discuss various monetary transmission channels from a theoretical...

Yields for German government bonds reached record lows in recent months. The downturn in yields has now lasted since the start of the Great Recession, apart from a short disruption in the first half of 2011, and this has affected bills and bonds over...

Kiel Policy Brief No. 58: The reason why the Euro zone crisis has dragged on for so long is that Europe's leaders have focused too much on short-term measures to patch up the emergency of the moment, rather than formulating a comprehensive plan.

Kiel Policy Brief No. 58a: The reason why the Euro zone crisis has dragged on for so long is that Europe's leaders have focused too much on short-term measures to patch up the emergency of the moment, rather than formulating a comprehensive plan.