structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and …

We compared forecasts of stock market volatility based on real-time and revised macroeconomic data. To this end, we … used a new dataset on monthly real-time macroeconomic variables for Germany. The dataset covers the period 1994-2005. We … used a statistical, a utility-based, and an options-based criterion to evaluate volatility forecasts. Our main result is …

trends in unconditional firm level and aggregated output volatility in Germany are similar. There has been a long … Moderationʺ can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility using …-run downward trend, which was interrupted by the unification period. Second, the conditional, idiosyncratic firm level volatility …

trends in unconditional firm level and aggregated output volatility in Germany are similar. There has been a long … Moderationʺ can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility using …-run downward trend, which was interrupted by the unification period. Second, the conditional, idiosyncratic firm level volatility …

structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and …

volatility depends on the nature of the underlying shock. Empirical evidence supports this conclusion. Our results also show that … the link between business cycle volatility and financial openness has not been stable over time. …

volatility depends on the nature of the underlying shock. Empirical evidence supports this conclusion. Our results also show that … the link between business cycle volatility and financial openness has not been stable over time. …

trends in unconditional firm level and aggregated output volatility in Germany are similar. There has been a long … Moderation" can be found in firm level data as well remains disputed. We study the evolution of firm level output volatility …-run downward trend, which was interrupted by the unification period. Second, the conditional, idiosyncratic firm level volatility …

This paper elaborates on the link between financial market volatility and real economic activity. Using monthly data … for Germany from 1968 to 1998, we specify GARCH models to capture the variability of stock market prices, of the real … the future stance of the business cycle and on the volatility of industrial production. The results of our empirical …