It is well known from anecdotal, survey and econometric evidence that the relationshipbetween the exchange rate and macro fundamentals is highly unstable. Thiscould be explained when structural parameters are known and very volatile, neitherof which seems plausible. Instead we argue that large...

The communication policy of the European Central Bank attracts a lot of attention from financial markets. This paper analyses the informational content of the monthly introductory statements of the ECB president explaining interest rate decisions with regard to inflation expectations of...

We present a theoretical framework for policy making based on the "impossible trinity" or the "trilemma" hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies - exchange rate stability, financial market...

This paper suggests that exchange rates are related to economic fundamentals over medium-term horizons, such as a month or longer. We find from a large panel of individual professionals' forecasts that good exchange rate forecasts benefit from the proper understanding of fundamentals,...

Within the EU research project SVAPPAS, a method of sustainability measurement based on principles of financial markets, will be tested wrt sustainability issues in agriculture, and further developed. This analysis is oriented to farm level approach based on FADN data. The study goes in two...

[Einleitung] Die Data Envelopment Analysis (DEA) ist ein nicht-parametrisches Verfahren zur relativen Effizienzmessung vergleichbarer Aktivitäten bzw. Organisationseinheiten (Decision Making Units), das sich in den letzten Jahrzehnten insbesondere im Non-Profit-Bereich großer Beliebtheit...

Existing studies on Carbon Capture and Storage (CCS) only focus on costs and carbon dioxide (CO2 ) reduction that arise at the power plant and geological storage. These studies do not consider additional expenses and emissions at the input and output pathways. Consequently, we use a simulation...