World trade suffered a marked decline during the financial and economic crisis which started in 2008, even more so than global economic output. A new study investigates what factors can explain the changes in world trade since 2000.

In 2018, the German economy’s current account surplus decreased by ¾ percentage point to 7¼% of nominal gross domestic product (GDP). This was due to a sharp decline in the goods trade surplus, whereas developments in the other sub- accounts tended to push up the surplus.

Internal risk models play an important role in ensuring capital adequacy at banks. Banking supervisors keep a particularly close eye on them, as banks have some degrees of freedom when it comes to model design. A new study examines the incentives for banks to implement internal risk models, analyses their impact on risk management and explains possible consequences of a new regulatory proposal regarding application of such models.