The aim of this paper is to assess whether the impacts of real exchange rate undervaluation and domestic technological capabilities on growth are stable across development levels. On the one hand, a real exchange undervaluation measure is constructed based on the purchasing-power-parity theory...

The resource curse literature's main lesson is that developing and natural resource-rich countries should save most of their oil windfalls in foreign currency. Moreover, the political cycle literature's recent contributions predict stronger cycles in these countries. This paper investigates how...

Der Beitrag analysiert, inwieweit eine lockere Geldpolitik in gängigen theoretischen Modellen zur Bildung von Hauspreisblasen führen kann. Wird der Fundamentalwert von Häusern darüber erklärt, dass künftige Mieteinnahmen diskontiert werden, ergibt sich zwar ein inverser Zusammenhang von...

Der Beitrag geht in einem systematischen Fallstudienansatz der Frage nach, inwieweit Niedrigzinsen empirisch Hauspreisblasen verursachen. Dafür werden in einem ersten Schritt für 16 OECD-Länder mit verfügbaren Daten Hauspreisblasen im Zeitraum seit 1985 definiert und Phasen besonders...

The resource curse literature's main lesson is that developing and natural resource-rich countries should save most of their oil windfalls in foreign currency. Moreover, the political cycle literature's recent contributions predict stronger cycles in these countries. This paper investigates how...

The aim of this paper is to assess whether the impacts of real exchange rate undervaluation and domestic technological capabilities on growth are stable across development levels. On the one hand, a real exchange undervaluation measure is constructed based on the purchasing-power-parity theory...

The paper investigates in how far lax monetary policy (defined as deviations from prescriptive monetary policy rules or past trends) and/or financial innovation can be seen as a cause for housing price bubbles in industrialized countries. From a theoretical perspective, it is found that there...

This paper analyses the factors that reduce the gold sector's contribution to the Tanzanian government's revenue. Tanzania is among Africa's largest gold exporters. Yet ordinary Tanzanians have seen little benefit from this. This is partly because the government has enacted tax laws that are, as...