Die wirtschaftlichen und sozialen Einschränkungen durch die Corona-Maßnahmen hat die große Mehrheit der Deutschen mit Disziplin mitgetragen. Sogar am Osterwochenende hielt sich die Bevölkerung an die weitreichenden Kontaktbeschränkungen. Doch nun wecken selektive Lockerungsmaßnahmen, also...

In this paper we develop a business cycle measure that can be shown to have excellent ex-ante forecasting properties for GDP growth. For identifying business cycle movements, we use a semantic approach. We infer nine different states of the economy directly from firms' responses in business...

The concept of cointegration (see e.g., Engle and Granger, 1987; Johansen, 1988) has extensively been used to model equilibrium relationships (see e.g., Johansen and Juselius, 1990; Ericsson, 1998). The links between economic and econometric concepts are now well understood and they have become part of...