Using aggregate data, the paper analyzes the importance of inventory investment for German business cycles since 1960. In contrast to U.S. experience, the traditional productionsmoothing/ buffer-stock model is not rejected by empirical evidence. Preliminary national accounts data of inventory...

This paper investigates the transmission of US macroeconomic shocks to Germany by employing a large-dimensional structural dynamic factor model. This framework allows us to investigate many transmission channels simultaneously, including 'new' channels like stock markets, foreign direct...

As Europe grows ever closer together, the aim of the present volume is to improve familiarity with, and understanding of, the German planning system both within Europe and beyond. This introductory text is based on the German component of the ARL's "Handbooks of Planning Terminology", a series...