At just 4.4 percent, the contribution made by nuclear power to meeting the world’s primary energy requirements is marginal and on the decline. The current nuclear power fleet is outdated with around 200 plants due to be phased out over the next ten years compared to as few as 46 new nuclear power plants under construction worldwide. Yet the nuclear industry, particularly the World Nuclear Association ...
Das Papier untersucht den Zusammenhang zwischen finanzieller Stimmung und privater Verschuldung und verwendet Keynes’ ‚A Treatise on Money‘ als konzeptionellen Hintergrund. In der Antwort auf seine Kritiker nach der Veröffentlichung seiner ‚General Theory‘ sprach Keynes bekanntlich von unerwarteten, gewaltigen Veränderungen bei der konventionellen Vermögensbewertung, wenn Zweifel an der Werthaltigkeit ...
We study the macroeconomic effects of unconventional monetary policy in the euro area using structural vector autoregressions, identified with external instruments. The instruments are based on the common unexpected variation in euro area sovereign yields for different maturities on policy announcement days. We first show that expansionary monetary surprises are effective at lowering public and private ...
A regime shift toward increased inflation expectations is credited with jump-starting the recov- ery from the Great Depression in the United States. What role did inflation expectations play in Germany that experienced a similarly successful economic upturn in the 1930s? We study infla- tion expectations in the German recovery across several methods: we conduct a narrative study of media sources; we estimate ...
