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...

Auf dem deutschen Immobilienmarkt hat sich das Blatt gewendet. Die Finanzierungskonditionen haben sich deutlich verschlechtert. Die spekulative Preisblase des letzten Jahrzehnts ist geplatzt. Die Immobilienpreise fallen: Baugrundstücke, Eigenheime und Eigentumswohnungen waren in über 150...

The financial crisis led to a deep recession in many industrial countries. While large emerging countries recovered relatively quickly from the financial crisis, their performance deteriorated in the recent years, despite the modest recovery in advanced economies. The higher divergence of...

The financial crisis led to a deep recession in many industrial countries. However, the downturn in large emerging markets turned out to be less persistent. Despite the modest recovery in advanced economies, GDP growth declined in emerging markets in the last years. The higher divergence of...

We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...

We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty. Using postwar US data and a Self-Exciting Interacted VAR (SEIVAR) model, we find that fiscal spending has positive output effects in tranquil times but is contractionary during...

The financial crisis led to a deep recession in many industrial countries. While large emerging countries recovered relatively quickly from the financial crisis, their performance deteriorated in the recent years, despite the modest recovery in advanced economies. The higher divergence of...

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...