Financial Liberalization and Business Cycles: The Experience of Countries in the Baltics and Central Eastern Europe Lúcio Vinhas de Souza

Asset Prices in Taylor Rules: Specification, Estimation and Policy Implications for the ECB Pierre L. Siklos, Thomas Werner, Martin T. Bohl

How effectiv are automatic stabilisers? Theory and empirical results for Germany and other OECD countries Michael Scharnagl, Karl-Heinz Tödter

Financial constraints for investors and the speed of adaption: Are innovators special? Ulf von Kalckreuth

Who do you trust while bubbles grow and blow? A comparative analysis of the explanatory power of accounting and patent information for the market values of German firms Fred Ramb, Markus Reitzig

Welfare Implications of the Design of a Currency Union in Case of Member Countries of Different Sizes and Output Persistence Rainer Frey

Real-Time Estimation of the Output Gap in Japan and its Usefulness for Inflation Forecasting and Policymaking Koichiro Kamada

Consumption Smoothing Across States and Time: International Insurance vs. Foreign Loans George M.von Furstenberg

Policy Instrument Choice and Non-Coordinated Monetary Policy in Interdependent Economies Giovanni Lombardo, Alan Sutherland

Inflation Targeting Rules and Welfare in an Asymmetric Currency Area Giovanni Lombardo