accounting database that provides detailed industry-level investment information. While much attention has focused on the … reduction in German labor hours, our data show that Information, Communication and Technology (ICT) investment in Germany was … slowdown, but did not reverse it. After 2000, we find that a recovery in Non-ICT investment was offset by a widespread collapse …

We estimate the effect of electorally induced policy uncertainty on investment in the manufacturing sector. Because …, and because the policies relevant to business investment vary systematically by party, uncertainty over the partisan … affiliation of the future governor is a source of political risk to firms considering business investment. More importantly, the …

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological … factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that … these subjective investment determinants 1) capture economically what their labels suggest, and 2) have strong explanatory …