This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany …

market is characterised by greater flexibility in wages and work arrangements in comparison to Germany. These institutional … dynamics as investment conditions are similar. Our results are consistent with this hypothesis. Furthermore, there is no …

The empirical identification of non-linearities in investment relies on how investment is assumed to be separated into … investment which allows us to observe regime separation, an aspect of the data that is typically absent from previous empirical … concentrating investment in a single year. Moreover, there is evidence that investment is more sensitive to fundamentals in the high …

household-level wage innovations. We draw our inference from household panel data sets for the US, the UK, and Germany. First …, but with increments being smaller in the European data. Third, we find that wage risk is procyclical in Germany while it …

context of Germany where the works council is the analogue of workplace unionism. Using parametric and nonparametric methods … (favorable) impact on investment. …

Germany, we find that works councils affect wage growth only in combination with collective bargaining. Wage adjustments to …

We study the implications of product market competition and investment for price setting, wage bargaining and thereby …

We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker … coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on …