In der letzten Dekade kam es bei Rohstoffen zu heftigen Preisschwankungen. Gleichzeitig nahm der Anteil von Finanzinvestoren an Rohstoffterminbörsen erheblich zu. Im Zuge ist eine Diskussion entbrannt, ob Finanzspekulation Rohstoffpreise von ihren fundamentalen Bestimmungsgrößen entfernt....

Re 3 is pleased to publish the interviews with the winners of the FEEM Award conferred during the 2013 European Economic Association Congress at the University of Gothenburg, Sweden: Jonathan Colmer and Michele Piffer, London School of Economics, and Rosen Valchev , Duke University, with links...

within VAR, structural VAR, and the Factor-Augmented VAR framework. We document a well-functioning transmission mechanism similar to the euro area countries, especially in terms of persistence of monetary policy shocks. Subject to various sensitivity tests, we find that contractionary monetary...

This paper estimates the medium-term determinants of the bilateral exchange rate variability and exchange rate pressures for 20 developed countries in the 1990s. The results suggest that optimum currency area criteria explain the dynamics of bilateral exchange rate variability and pressures, to...

This paper is primarily concerned with assessing the bias of the CNB's predictions in relation to undershooting of the inflation target. We conclude, that the inflation prediction error has decreased over time. We further point out that the GDP growth respectively interest rates were above...

This paper analyses a hypothesis, whether an asymmetric monetary policy could contribute to the undershooting of the inflation targets of the Czech National Bank in the years 1998-2007. To this goal, a non-linear Taylor Rule has been estimated. The results indicate that – upon the...