Publications of the Research Unit Pensions and Sustainable Financial Markets

• Highest Level Since May 2010
• Inflation Expectations Broadly Unchanged
• Long-Term Interest Rates Expected to Increase
• Stable EUR/CHF Expected
• Equities: Positive Sentiment Dominates
• Special Questions: Medium-Term…

• ZEW-Konjukturerwartungen weiter im Aufwind
• EZB: Kein Ausstieg aus Niedrigzinspolitik erwartet
• USA: Politischer Streit belastet Konjunkturerwartungen
• Japan: Konjunkturerwartungen leicht gedämpft
• Großbritannien:…

This paper focuses on finding starting-values for maximum likelihood estimation of Vector STAR models. Based on a Monte Carlo exercise, different procedures are evaluated. Their performance is assessed w.r.t.…

• Highest Level Since April 2013
• Inflation Expectations Broadly Unchanged
• Stable EUR/CHF Expected
• Gold: Split View Among Analysts
• Special Questions: Long-Term Forecasts

• Konjunkturoptimismus nimmt zu
• EZB: Weiterhin expansive Geldpolitik erwartet
• USA: Konjunkturelle Lage verbessert sich weiter
• Japan: Konjunktureinschätzungen im Aufwind
• Großbritannien: Wirtschaftliche Erholung…

This paper provides an explanation of why garbage as a measure of consumption implies a several times lower coefficient of relative risk aversion in the consumptionbased asset pricing model than consumption…

• Increasing Optimism for the CEE Region During the Last Three Months
• Economic Outlook for the CEE Region, Austria and the Eurozone
• Czech Republic, Poland, and Slovakia: Improved Current Situation
• Croatia, Hungary…