: aggregate supply shocks, aggregate spending shocks, and monetary shocks. Applying a structural VAR to data for the eurozone and …

) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 … aggregate. For the case of Italy, results are less clear. From the estimated money demand functions, we derive both EMU-4 and …

Using a newly constructed macroeconometric model for Germany and the rest of the Euro area, we investigate the … macroeconomic effects of structural labor market reforms in Germany. We find that neither the fact that Germany can no longer pursue … Germany by implementing labor market reforms themselves constitute impediments to successful reforms. Reforms would relative …

Germany is world champion in exporting capital ("Exportweltmeister"). No other country invests larger amounts of … savings outside its borders. However, Germany plays in the third division when it comes to investment performance, as we show … in this paper. We study the returns on German foreign investments from 1950 to 2017 and find that: (1) Germany's annual …

In the past decade, Germany has been the world champion in exporting capital (“Exportweltmeister”). No other country … invested larger amounts of savings outside its borders. However, we find that Germany plays in the third division when it comes … for 13 advanced economies back to the 1970s. The data reveal that Germany’s annual returns on foreign assets were 2 to 5 …

variables. Therefore, I derive a financial market stress indicator (FMSI) for Germany and the Euro Area using a dynamic … about fifteen percent of variation in real GDP growth can be accounted for variations in financial stress for Germany and …-of-sample forecasting accuracy for real GDP growth in Germany compared to a model without the indicator and other forecast benchmarks …