Publications of the Research Unit Pensions and Sustainable Financial Markets

• ZEW-Konjukturerwartungen steigen weiter
• EZB: Zinserwartungen fallen deutlich
• USA: Konjunkturlage verbessert sich wieder
• Japan: Konjunkturerwartungen unverändert
• Großbritannien: Konjunkturelle Lage stark verbessert
• So…

• Positive Outlook Despite Temporary Economic Setback
• Inflation Expectations Increasing
• Long-Term Interest Rates Expected to Increase
• Stable EUR/CHF Expected
• Equities: Positive Sentiment Dominates
• Special Questions:…

While a widespread consensus exists among macroeconomists that the German labour market reforms in 2003-2005 have successfully contributed to the decline of the unemployment rate, critics claim that the reforms…

Private equity (PE) firms have long time emphasized their role as investors who create value in their portfolio companies. In this paper we analyze a key strategy of PE investors, the so-called buy-and-build…

• 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.…