Publications of the Research Unit Pensions and Sustainable Financial Markets

• Recovery from Swiss Franc Shock Continues
• Continued Uncertainty Regarding EUR/CHF Exchange Rate
• Downward Inflation Expectations
• No Change in Short-Term Interest Rates Expected
• High Expectations for European Stock…

This paper investigates the long-run relationships between the size and age composition of a city's population and the price of local housing. For estimation purposes, we combine city-level demographic…

The recent financial and sovereign debt crises around the world have sparked a growing literature on models and empirical estimates of defaultable debt. Frequently households and firms come under default threat,…

• Konjunkturerwartungen weiter auf hohem Niveau
• EZB: Inflationserwartungen stark gestiegen
• USA: Einschätzung der Wirtschaftslage verschlechtert sich
• Japan: Dritter Anstieg des Lageindikators in Folge
• Großbritannien:…

• Economic Activity Expectations Recover from Swiss Franc Shock
• Continued EUR/CHF Exchange Rate Uncertainty
• Stable Inflation Expected
• No Change in Short-Term Interest Rates Expected
• Positive Outlook for European Stock…

• Leichter Anstieg der Konjunkturerwartungen
• EZB: Anstieg der Inflationsrate erwartet
• USA: Konjunkturlage weiter auf hohem Niveau
• Japan: Lageeinschätzung deutlich verbessert
• Großbritannien: Konjunkturerwartungen…

• Plunge in Switzerland’s Economic Outlook
• CHF Appreciation Pushes Down Inflation Expectations
• No Change in Short-Term Interest Rates Expected
• Uncertainty Regarding the EUR/CHF Exchange Rate
• Expectations for Swiss…

This paper focuses on finding starting-values for the estimation of Vector STAR models. Based on a Monte Carlo study, different procedures are evaluated. Their performance is assessed with respect to model fit…