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Business cycles and FDI: evidence from German sectoral data

Buch, Claudia M.; Lipponer, Alexander - 2005

Globalization has effected business cycle developments in OECD countries and has increased activities of firms across national borders. This paper analyzes whether these two developments are linked. We use a new firm-level dataset on the foreign activities of German firms to test whether foreign...

Persistent link: https://www.econbiz.de/10010295678

Consumption, wealth and business cycles: why is Germany different?

Hamburg, Britta; Hoffmann, Mathias; Keller, Joachim - 2005

-wealth ratio - in Germany, based on data from 1980 to 2003. Earlier papers for the Anglo-Saxon economies have documented that … departures of these three variables from their common trend signal future changes in asset prices. We find that for Germany they …-American system: stock ownership by private households is much less widespread in Germany than in the Anglo-Saxon economies and the …

Persistent link: https://www.econbiz.de/10010295684

The cross-sectional dynamics of German business cycles: a bird's eye view

Döpke, Jörg; Funke, Michael; Holly, Sean; Weber, Sebastian - 2005

We establish some stylised facts for Germany's business cycle at the level of the firm. Based on longitudinal firm …

Persistent link: https://www.econbiz.de/10010295768

Identifying the role of labor markets for monetary policy in an estimated DSGE model

Christoffel, Kai Philipp; Küster, Keith; Linzert, Tobias - 2006

We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...

Persistent link: https://www.econbiz.de/10010295805

The within-distribution business cycle dynamics of German firms

Weber, Sebastian; Döpke, Jörg - 2006

We analyse stylised facts for Germany's business cycle at the firm level. Based on longitudinal firm-level data from …

Persistent link: https://www.econbiz.de/10010295818

Macroeconomic fluctuations and bank lending: evidence for Germany and the euro area

Eickmeier, Sandra; Hofmann, Boris; Worms, Andreas - 2006

monetary policy shocks in Germany and the euro area. The results suggest that the dynamic responses in the two areas are …

Persistent link: https://www.econbiz.de/10010295823

Great moderation at the firm level? Unconditional versus conditional output volatility

Buch, Claudia M.; Döpke, Jörg; Stahn, Kerstin - 2008

trends in unconditional firm level and aggregated output volatility in Germany are similar. There has been a long …

Persistent link: https://www.econbiz.de/10010295884

Firm-specific productivity risk over the business cycle: facts and aggregate implications

Bachmann, Ruediger; Bayer, Christian - 2009

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital adjustment, where cyclical changes in uncertainty...

Persistent link: https://www.econbiz.de/10010298831

The cross-section of firms over the business cycle: new facts and a DSGE exploration

Bachmann, Ruediger; Bayer, Christian - 2009

Using a unique German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The...

Persistent link: https://www.econbiz.de/10010298833

The debt brake: business cycle and welfare consequences of Germany's new fiscal policy rule

Mayer, Eric; Stähler, Nikolai - 2009

In a New Keynesian DSGE model with non-Ricardian consumers, we show that automatic stabilization according to a countercyclical spending rule following the idea of the debt brake is well suited both to steer the economy and in terms of welfare. In particular, the adjustment account set up to...

Persistent link: https://www.econbiz.de/10010298840