Dieser Artikel gibt einen Überblick über die neuen Forschungsergebnisse auf den Gebieten der empirischen Analyse der makroökonomischen Konsequenzen von Ölpreisschocks, der Untersuchung des Wandels des Zusammenhangs zwischen dem Ölpreis und der Ökonomie sowie der Untersuchung der...

This paper finds that global temperature anomalies are characterised by (temporary) explosiveness, a statistical feature typically found in financial and commodity market data during episodes of extreme price increases. This finding dramatically illustrates the extent temperature changes have...

This paper is concerned with the statistical behavior of oil prices in two ways. It, firstly, applies a combined jump GARCH in order to characterize the behavior of daily, weekly as well as monthly oil prices. Secondly, it relates its empirical results to implications of Hotelling-type resource...

This paper deals with three aspects of spectacular oil price episodes such as the one witnessed in 2008. First, the concept of temporary explosiveness is proposed as an empirical method for capturing this type of behavior. The application of a recently proposed recursive unit root test shows...

Um das Europäische Emissionshandelssystem (EU ETS) wird derzeit aufgrund der niedrigen Preise für Verschmutzungsrechte eine Diskussion geführt. Der Beitrag fasst den aktuellen Stand zusammen und kommentiert ihn aus ökonomischer Sicht.

This paper studies the dynamic behavior of daily oil prices and finds strong evidence of GARCH as well as conditional jump behavior. This implies that conditional heteroscedasticity is present and the empirical distribution of oil price changes has heavy tails. Thus, the oil price considerably...

This paper deals with the economics of Bitcoins in two ways. First, it broadens the discussion on how to capture Bitcoins using economic terms. Center stage in this analysis take the discussion of some unique characteristics of this market as well as the comparison of Bitcoins and gold. Second,...