In the paper, some empirical results from a macroeconometric disequilibrium model for the Federal Republic of Germany are reported. In the theoretical model, a delayed adjustment of employment and investment is analyzed. Market disequilibrium is introduced by allowing for a sluggish adjustment...

Unification fundamentally changed the terms of quantitative macroeconomic analysis for Germany. Two main areas concerned are data availability for the eastern part of Germany and structural changes within the behavioural equations after unification. Our paper presents results from the estimation...

A dynamic model of the firm is worked out, which pays special attention to a delayed adjustment of employment, investment, and the production technology. A three-step decision structure is assumed, with short-run adjustment of output, medium-run adjustment of employment, and long-run adjustment...