Der Zins-Pass-Through, also die Geschwindigkeit, mit der Geschäftsbanken einen Geldmarktimpuls an ihre Kunden weitergeben, ist aus zwei Gründen wirtschaftspolitisch relevant. Zum einen ist er eine wichtige Determinante für die Wirksamkeit der Geldpolitik, da er die erste Stufe der...

Summary The pass-through of market rates to retail interest rates is generally found to be particularly slow in Germany compared to other countries. One popular explanation is the organisation of the banking system in three strictly segregated “pillars”: savings banks, credit cooperatives...

The pass-through of market rates to retail interest rates is generally found to be particularly slow in Germany compared to other countries. One popular explanation is the organisation of the banking system in three strictly segregated "pillars": savings banks, credit cooperatives and private...

Zusammenfassung: Die aktuell erzielten Überschüsse in den öffentlichen Haushalten legen die Schlussfolgerung nahe, dass in den kommenden Jahren erhebliche Spielräume für deren Verwendung bestehen. Während im herannahenden Wahlkampf die Rufe nach verschiedenen Varianten von...

Summary Government agencies and other national and international institutions are asked to perform forecasts over the medium term. In particular, the EU Stability and Growth Pact contains the obligation to formulate stability programmes over four years, covering a general economic outlook as...

While the U.S. and the U.K. are likely to experience an interest rate turnaround in the near future, monetary conditions in the euro area will remain highly accommodative for a long time. The qualitative and quantitative effects of diverging monetary positions between major central banks are...

Despite similar levels of per capita income, education and technology, the development of labour income shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. We first use a standard overlapping generations model to derive...

Torsten Schmidt and Simeon Vosen have done extensive research on the potential benefits of using Google TrendsÕ product search data for forecasting economic behavior. Their results point strongly to the predictive value of using Google indicators in forecasting models. Here, they provide an...

The aim of the paper is to analyse the forecasting ability of various potential predictors for real estate prices in Germany over the short term. In the wake of the financial crisis, real estate prices in Germany started to increase markedly and still did so by the end of 2013. Despite a number...