authors and are not endorsed by the European Central Bank. 2 Czech National Bank, Na Příkopě 28, CZ-115 03 Praha 1 …, Institute of Economic Studies, Faculty of Social Sciences, Charles University, Opletalova 26, CZ-110 00 Praha 1, and Institute … of Information Theory and Automation, Pod vodárenskou věží 4, CZ-182 04 Praha 8, Czech Republic; e-mail: Alexis …

varies substantiallyacross sectors and depends strongly on economic features, such as the intensity ofcompetition, the … costs and prices both at the firm and macro-economic level. The WDN is chaired by Frank Smets (ECB). Giuseppe Bertola … price rigidity varies substantially across sectors and depends strongly on economic features, such as the intensity of …

doesn�t allow us to match our data for the multitude of industry classes; hence we focus on economic aggregates in our … economic aggregates in our empirical analysis. The �rst caveat implies that risk capital increases innovative output only in … members from Central Europe (Czech Republic, Hungary, Poland and Slovakia) - EVCA only started reporting PE activity in 1998 …

. This paper proposes a number ofapproaches to forecast short-term changes in selected world economic vari-ables and aims …. International Busi- ness Cycles: World, Region, and Country-Speci�c Factors. Ameri- can Economic Review 93(4), 1216�1239. [12 …. Forecasting and Simulation Analysis of the World Economy. American Economic Review 63(2), 402-409. [14] OECD, 1998. OECD Composite …

.1080/13504850701719892. Alesina, A. and Roubini, N. (1992). Political Business Cycles in OECD Economies, Review of Economic Studies, 59 (4), 663 … Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations”, Review of Economic …, B. (1996). “Federalism, Fiscal Restraints, and European Monetary Union”, American Economic Review, 86 (2), 134 …

disequilibria are arbitraged at di�erent speeds. Although the logistic function is intuitive in the context of real economic … formally select between exponential and logistic transition functions; consistent with economic intuition we �nd that mean …: �rst, European Economic and Monetary Union (EMU) and Exchange Rate Mecha- nism (ERM) countries; and second, all countries …

their reporting (e.g. Iceland after 2001). In others - notably, the new EU members from Central Europe (Czech Republic … magnitude of 2 in the Czech Republic (from 0.042 to 0.023) and by a magnitude of 6.5 in Greece (from 0.027 to 0.004), but it has … 1998-1999 in 16 countries: Austria, Belgium, Czech Re- public, Denmark, Finland, France, Germany, Greece, Hungary, Italy …

global FX move- ments since the summer of 2008 is the size of FX reserves. To illustrate the economic signi�cance, countries … economic magnitude of the global FX response to US shocks is substantial. Moreover, these �ndings are robust to alternative … FX move- ments since the summer of 2008 is the size of FX reserves. To illustrate the economic 9 ECB Working Paper Series …

the main text, it is useful to define extreme weather events and review their transmissions channels on fiscal policy … negative supply shocks triggering a decline in global economic 1 Extreme weather events comprise the following disasters … whereas our focus lies on extreme weather events. 11 ECB Working Paper Series No 1055 May 2009 event, the economic size, the …

relationship between wages, labour costs and prices both at the firm and macro-economic level. The WDN is chaired by Frank … (e.g. Belgium, Cyprus, the Czech Republic and Slovenia, see Du Caju et al. (2008)). However, only in a few countries … applies only to a sub-set of the entire workforce (e.g. for the public sector, as in the Czech Republic), in Luxembourg, all …