implications of countercyclical fiscal policy for France, Germany and the UK. The model incorporates real wage rigidity which is … government consumption or investment to react to the output gap or the public debt-to-output ratio. If the object of fiscal …

dropped on average by -55% in the US and -45% in Germany from the onset of the crisis to the summer of 2021. In the US …, schools were closed longer in richer than in poorer areas, while in Germany the regional variation is much smaller. However …, Germany exhibited substantial variation by grade level, with a strong U-shaped patterns that implies that children attending …

Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The … monotonically. A calibrated model of investment with convex capital adjustment costs and rational inattention explains these … features of the data. The model matches the empirical responses of sectoral investment because learning about shocks generates …

, we show that more trust in a relationship is associated with higher idiosyncratic investment by suppliers and better part … relationships involving higher trust, buyers are able to induce higher investment and more intense competition among suppliers - but …

household survey data from Germany. Second, we build a New Keynesian model with incomplete asset markets and labor market … risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this …

-August 2020, the other from the ECB reporting average monthly values over the period January 1900-August 2020. The estimation …

asymmetries of savings out of factor incomes. This generalized model helps to shed new light on a recent debate concerning the … the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …