Die Bundesregierung hat Mitte Februar ein umfangreiches Konjunkturpaket mit Ausgabenerhöhungen und Steuersenkungen beschlossen. Welche Wirkungen hat der konjunkturelle Impuls auf wichtige volkswirtschaftliche Größen? Im folgenden Beitrag werden die konjunkturellen Effekte des Konjunkturpakets...

While the U.S. and the U.K. are likely to experience an interest rate turnaround in the near future, monetary conditions in the euro area will remain highly accommodative for a long time. The qualitative and quantitative effects of diverging monetary positions between major central banks are...

The “Great Recession” has painfully demonstrated the impact of real estate prices on real economic activity. Hence, close examination of real estate price changes is important for business cycle analysis and economic policy. However, most real estate price indices for Germany either exhibit...

Despite energy price hikes in recent years, growth rates turned out to be high in most industrialised countries. This pattern starkly contrasts the adverse effects that energy price shocks exerted on growth in the 1970s and 1980s. This study investigates whether a reduction in the energy cost...

Despite similar levels of per capita income, education and technology, the development of labour income shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. We first use a standard overlapping generations model to derive...