KBW 2: After the reunification, in Germany economic growth was weak from a historical as well as international perspective. In particular, the years between 19

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.

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...

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...

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.

Are economists superfluous? Since the last financial crisis a debate has raged as to whether economists still have much relevant insight to offer citizens and politicians alike. Even German Chancellor Angela Merkel recently called upon economists at...

To determine the possible welfare gains from macroeconomic stabilization policy, we adapt the ap- proach of Lucas (2003) with a risk-averse representative agent. However, instead of using a General Equilibrium model, we apply an agent-based macro...

This paper studies the effects of ECB communications about unconventional monetary policy operations on the perceived sovereign risk of Italy over the last five years. More than fifty events concerning non-standard operations are identified and...