Chapter 1. introduction -- Chapter 2. The German Hyperinflation of 1923 -- Chapter 3. Macroeconomic Developments from the End of theof the 1960s to the early 1980s -- Chapter 4. The Inflation Wave from the Late 1960s onward -- Chapter 5. Comparison of developments in the various countries --...

We estimate a model with latent factors that summarize the yield curve (namely, level, slope, and curvature) as well as observable macroeconomic variables (real activity, inflation, and the stance of monetary policy). Our goal is to provide a characterization of the dynamic interactions between...

We study the yields in the German treasury bills market. We take a detailed look at the yield banks require to buy treasury bills in the primary market, and we also examine the yield households and nonbank firms demand to buy these bills in the secondary market. We use data from real world...

In this paper, we assess the impact of major German structural reforms from 1999 to 2008 on key macroeconomic variables. By many, these reforms, especially the Hartz reforms on the labor market, are considered to be the root of observed imbalances in the Euro Area. Our simulations within a...