The globalisation on financial markets and the development of financial derivatives has increased not only chances but also potential risk within the banking industry. Especially market risk has gained major significance since market price variation of interest rates, stocks or exchange rates...

Summary The paper presents stylized facts of Euroland’s business cycle using aggregated data. The main results are: The determination of turning points in Euroland’s business cycle is not very sensitive to the detrending method used, although the level of the recent output gap depends on it....

The globalisation on financial markets and the development of financial derivatives has increased not only chances but also potential risk within the banking industry. Especially market risk has gained major significance since market price variation of interest rates, stocks or exchange rates...