In this paper we introduce a new card game called The Economists' Quartet. Its aim is twofold: it is designed to make students interested in the life of contemporary and former economists and their most important ideas, as well as be an entertaining pastime for 'grown-up' post graduate...

We estimate the Dollar exposure of German DAX corporations. Our results are based on a new time-variant, APT-based and panel econometric extension of the exchange-rate exposure model in the tradition of Adler and Dumas (1984) and Jorion (1990). Our stock market data consist of 28 performance...

This paper surveys the asymptotic distributions of three widely used single equation cointegration tests. Particular attention is paid to the case where the regressors are integrated with drift, i.e. at least one of the regressors follows a linear trend. Even if the regressions are not...

Im folgenden soll versucht werden, empirische Evidenz zum Transmissionsmechanismus mit Hilfe monetärer Schocks zu generieren. Die quantitativen Auswirkungen der monetären Impulse werden mit Hilfe von Impuls-Antwort-Funktionen beschrieben, wobei die Impuls- Antwort-Funktionen auf einem VAR...

Two dynamic sticky price models with monopolistic competition in the goods market are presented. In the first model, each intermediate goods producer faces quadratic costs of adjusting its nominal price as introduced by Rotemberg (1982); the second model incorporates staggered price setting as...

Die deutliche Tendenz sinkender Preisprämien im Zeitverlauf stellt differenzierende Unternehmen angesichts begrenzter Möglichkeiten versteckter, d.h. von den Kunden nicht wahrnehmbarer Leistungskürzungen, vor neue Herausforderungen. Am Beispiel der deutschen Automobilindustrie sollen...