Albeit the operation of the Under-Frequency Load Shedding (UFLS) scheme is fairly straightforward, the design of an optimal scheme is not as simple due to many design and performance criteria to be taken into consideration. The existence of an automated revision scheme will ease the scheme...

Intertemporal models of the current account generally assume that global shocks do not affect the current account. We use this assumption to identify global and country-specific shocks in a bivariate VAR. We test the quality of the identification using evidence from G7-data. In accordance with...

We document and account for two facts regarding the relation between international interest rates and total factor productivity (TFP) in a sample of developing countries. First, there is a negative correlation between both variables at quarterly frequency. Second, the share of agricultural labor...