Die Eisen- und Stahlindustrie emittiert einen bedeutsamen Teil der Kohlendstoffdioxidemissionen der Europäischen Union. Zudem ist der Sektor einer der größten Energieverbraucher. Dementsprechend ist die Eisen-…
The aim of this paper is to assess the dimension of factors and shocks that drive financial conditions, and in particular financial stress in the euro area. A second aim is to construct summary indices on the…
This paper introduces a methodological innovation into Generational Accounting. By incorporating cyclically-adjusted balances into the forward-looking budget projections underlying the concept we isolate pure…
To make predictions with theories, usually we assume an individual's characteristics such as uncertainty preferences to be stable over time. In this paper, we analyze the stability of ambiguity preferences…
Endogeneity in network formation hinders the identification of the role that social networks play in generating spillovers, peer effects and other externalities. This paper tackles this problem and investigates…
While a widespread consensus exists among macroeconomists that the German labour market reforms in 2003-2005 have successfully contributed to the decline of the unemployment rate, critics claim that the reforms…