In diesem Beitrag untersuchen wir die Auswirkungen der Erweiterung der Europäischen Währungsunion aus einer wirtschaftspolitischen Perspektive. Unser Argument ist es, dass ein hoher Grad an Konvergenz der Beitrittsländer vor ihrem Beitritt zur Europäischen Währungsunion eine wichtige...

We use a novel approach to identify economic developments that drive exchange rates in the long run. Using a panel of six quarterly U.S. bilateral real exchange rates Australia, Canada, the euro, Japan, New Zealand and the United Kingdom over the 1980-2007 period, a dynamic factor model points...

We evaluate forecasts for the euro area in data-rich and 'data-lean' environments by comparing three different approaches: a simple PMI model based on Purchasing Managers’ Indices (PMIs), a dynamic factor model with euro area data, and a dynamic factor model with data from the euro plus data...

We evaluate forecasts for the euro area in data-rich and 'data-lean' environments by comparing three different approaches: a simple PMI model based on Purchasing Managers' Indices (PMIs), a dynamic factor model with euro area data, and a dynamic factor model with data from the euro plus data...