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Although there is by now strong evidence that sovereign risk premia are driven by a common factor, little is known about the detailed linkages between sovereign bond markets. We employ the VAR method by Diebold and Yilmaz (2009) to analyse the strength and direction of bilateral linkages between...

We use the forecast-error variance decompositions from a VAR with daily sovereign bonds spreads since 2000 to detail the linkages between EU sovereign bond markets and banks over time. Using new summary statistics on the matrix of bilateral linkages, we show Spain is systemic for Europe. Its...

Endogenous mark-ups have been a matter of interest in macroeconomics, especially from the middle 1990’s onwards. However, the complexity of this class of models, does not allow general ualitative conclusions in most cases, and there is plenty of room for investigation, especially in the...

This thesis aims at improving the current representation of adaptation in economic frameworks of climate change by a) accounting for the time-dependent evolution of the adaptive capacities of countries and b) quantifying unwelcome feedbacks of the adaptation process. In this context, it is...

Dieser Bericht besteht aus zwei Teilen, die weitgehend unabhängig voneinander im Rahmen des AdaptCosts vom Potsdam-Institut für Klimafolgenforschung und Germanwatch erarbeitet worden sind (siehe dazu Abbildung 1 zum "Work Flow"). Ziel der Untersuchungen war es, Wissenslücken zur Schätzung...

To stop climate change, we have to limit global warming to 1.5°C. But can we still achieve this target? And if so, what pathways can society take in transiting towards a climate-just economy? One important yardstick emerging from it was the need for global emissions to reach net-zero by 2050,...

This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...

This paper aims to analyse cooperation in R&D in the automobile industry in Spain. It first examines to what extent firms cooperate with external actors in the field of technological innovation, and if so, with what type of cooperation partner, paying special attention to the differentiation...