It is in the interest of every EU member state that countries in the Union hit by the coronavirus are able to take the necessary measures to control the pandemic and deal with the economic consequences without being constrained, and to do so very quickly. This column proposes a Covid credit line in the European Stability Mechanism, with allocation across member states proportionate to the severity ...
Leider ist die Veranstaltung abgesagt. Sobald ein neuer Termin feststeht, wird er hier auf der Webseite bekannt gegeben. Dr. Jens Weidmann, Präsident der Deutschen Bundesbank, hält die Keynote "Die Europäische Währungsunion - die Unvollendete?" im Rahmen der 6. DIW Europe Lecture. Die Veranstaltung wird von Professor Marcel Fratzscher, Präsident des DIW Berlin,...
Conference in Bremen, June, 16th, 2020 and Quarterly Journal of Economic Research (DIW Vierteljahrshefte zur Wirtschaftsforschung) Description Advances in payment technologies have considerably extended the way how we pay for transactions. While the majority of financial transactions has been even traditionally done by the means of non-cash (e.g. equity payments in mergers & acquisitions), nowadays ...
We characterize the joint dynamics of a large number of macroeconomic variables and Treasury yields in a dynamic factor model. We use this framework to identify a yield curve news shock as an innovation that does not move yields contemporaneously but explains a maximum share of the forecast error variance of yields over the next two years. This shock explains more than half, and along with a...
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