The current environment is characterized by low real rates and by policy rates close to or at their effective lower bound in all major financial areas. We analyze these unusual economic conditions from a secular perspective using data on aggregate consumption, wealth and asset returns. Our...

Financial crises cause economic, social and political havoc. Macroprudential policies are gaining traction but are still severely under-researched compared to monetary policy and fiscal policy. We use the general framework of sequential predictions also called online machine learning to forecast...

Financial crises cause economic, social and political havoc. Macroprudential policies are gaining traction but are still severely under-researched compared to monetary and "fiscal policy. We use the general framework of sequential predictions, also called online machine learning, to forecast...

Runoff disregards territorial boundaries, affects farmers as well as other users of space, and necessitates collective action if it is to be combatted. In this article, based on the case of Upper-Normandy, we show that geographical proximity can play a determining role in the struggle against...

Runoff disregards territorial boundaries, affects farmers as well as other users of space, and necessitates collective action if it is to be combatted. In this article, based on the case of Upper-Normandy, we show that geographical proximity can play a determining role in the struggle against...