The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...

Increasing signs seem to indicate that, in the areas of both politics and thought, the age of neoliberal supremacy is approaching its end. An ideology based exclusively on the free play of the market is bound, ultimately, to lose its attraction. Growing inequality and social exclusion, with new...

Globalization has affected business cycle developments in OECD countries and has increased activities of firms across national borders. This paper analyzes whether these two developments are linked. We use a new firm-level dataset on the foreign activities of German firms to test whether foreign...

Surges and reversals of short-term foreign liabilities are often held responsible for instabilities in international financial markets. Yet, empirical evidence on the factors determining the maturity of capital flows is scant. This paper analyzes the determinants of foreign assets of German...

In 2005, the EU introduced an emissions trading system in order to pursue its Kyoto obligations. This instrument gives emitters the flexibility to undertake reduction measures in the most cost-efficient way and mobilizes market forces for the protection of the earth?s climate. In this paper, we...

In the information age an exchange with the media is part of the duties the economics profession has to deliver to educate the public and to ensure its position in society. A key issue is the education of policymakers through the media. It is the silver bullet of policy advice in comparison to...

Using unique recently released nationally representative high-quality data at the plant level, this paper presents the first comprehensive evidence on the relationship between productivity and size of the export market for Germany, a leading actor on the world market for manufactured goods. It...

Using unique recently released nationally representative high-quality data at the plant level, this paper presents the first comprehensive evidence on the relationship bet-ween productivity and size of the export market for Germany, a leading actor on the world market for manufactured goods. It...