Die gegenwärtigen Kontroversen zu den Auswirkungen eines Energieembargos gegen Russland, ausgelöst durch Russlands Krieg gegen die Ukraine, haben den Fokus auf die Verringerung der Abhängigkeit von fossilen Energieträgern und eine Neuordnung der Energieversorgung gelegt....

In this study, we examine if there is a linkage between the budget deficit (BD) and current account deficit (CAP). Traditional theory asserts that the BD leads to CAD, given that government expenditures are fixed. As disposable income increases due to BD (i.e., due to tax-cuts given that there...

In this paper we show that the exchange rates of some commodity exporter countries have the ability to predict the price of spot and future contracts of aluminum. This is shown with both in-sample and out-of-sample analyses. The theoretical underpinning of these results relies on the...

Unparalleled is a word that best describes the current state of advanced economies. Interest rates are low in many advanced countries and negative in a few others suggesting that monetary policy has lost its effectiveness. The economic policy tool that has not been implemented yet by many...

This paper investigates the relationship between expected inflation and nominal interest rates in Nigeria and the extent to which the Fisher effect hypothesis holds, for the period 1970-2009. The real interest rate is obtained by subtracting the expected inflation rate from the nominal interest...

The concept of NAIRU summarized the observed negative correlation between the unemployment rate and the inflation rate for a number of countries. This correlation persuaded some analysts of the impossibility for governments to simultaneously target both low unemployment and price stability....

The basic macroeconomic targets of the Turkish economy for the year 2000 and thereafter are to reduce the interest rates to plausible levels and increase the total production in a steady way. The goal of this study is to see if the Turkish government can realize these targets for the year 2000....

Studies conducted in the United States came to the conclusion that the annual average inflationary rate of 3 percent measured during the interval beginning in the early 1990's through the mid-1990's overestimates by 1.1 percentage points the changes in the cost of living. As a result, throughout...

We propose an aggregate growth index that explicitly accounts for non-normality in the micro-economic distribution of firm growth rates and for the presence of a negative scaling relation between their volatility and the size of the firm. Using Compustat data on US publicly traded company, we...

This paper assesses that participation of countries in IMF programs significantly diminishes their vulnerability to external shocks. Currently, one of the primary purposes of the IMF is to ensure global stability. As such, the Fund has the responsibility of advising member countries on the...