Die Immobilienpreise in Deutschland sind bis zuletzt weiter gestiegen. Eigenheime und Eigentumswohnungen waren in den untersuchten 97 Städten Deutschlands im laufenden Jahr im Durchschnitt elf Prozent teurer als noch vor einem Jahr. Auch die Mieten stiegen, allerdings deutlich weniger. Mieten...

91 countries around the world have established fiscal rules to limit national debt and/or budget deficits. Using data from previous natural disasters, this report investigates how these fiscal rules affect overall economic development following a crisis. The results show countries with fiscal...

Weltweit haben sich 91 Länder Fiskalregeln auferlegt, um die Staatsverschuldung und/oder das Haushaltsdefizit zu begrenzen. Wie sich diese Fiskalregeln auf die gesamtwirtschaftliche Entwicklung nach Krisen auswirken, untersucht dieser Bericht anhand von vergangenen Naturkatastrophen. Demnach...

We study the dynamic impact of Covid-19, economic mobility, and containment policy shocks. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through sign and zero restrictions. Incidence and mobility shocks raise cases and deaths significantly...

We develop a structural vector autoregressive framework that combines external instruments and heteroskedasticity for identification of monetary policy shocks. We show that exploiting both types of information sharpens structural inference, allows testing the relevance and exogeneity condition...

We study the dynamic impact of Covid-19, economic mobility, and containment policy shocks. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through sign and zero restrictions. Incidence and mobility shocks raise cases and deaths significantly...

We study the dynamic impact of Covid-19, economic mobility, and containment policy shocks. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through sign and zero restrictions. Incidence and mobility shocks raise cases and deaths significantly...

We study the impact of fiscal rules on macroeconomic performance following natural disaster shocks, using dynamic panel models and quarterly data for 89 countries. We find that countries with fiscal rules perform significantly better in the aftermath of such shocks than countries without rules....

We construct a news-based viral disease index and study the dynamic impact of epidemics on the world economy, using structural vector autoregressions. Epidemic shocks have persistently negative effects, both directly and indirectly, on affected countries and on world output. The shocks lead to a...

The Brexit vote has considerably increased economic uncertainty in Europe and beyond. It will likely affect economic performance and in particular investment in the euro area, which are both already relatively weak. The impact of this uncertainty shock on the euro area and the German economy is...