This paper attempts to test whether financial supply-side shifts explain the low-investment climate of private firms in Germany. The core contention is that a firm's financial position contributes to its access to external finance on credit markets. Special emphasizes is put on small and...

This study demonstrates that the interactions of firm-level indivisible investments give rise to aggregate fluctuations without aggregate exogenous shocks. When investments are indivisible, aggregate capital is determined by the number of firms that invest. I develop a method to derive the...

Paper deals with the analysis of investment in the business cycle. Analysis is based on available quarterly data for the Czech Republic since 1st quarter 1999 till 1st quarter 2014. It concludes that investment on the macroeconomic level is highly pro-cyclical component of demand, which...

We investigate the diffusion of frontier technologies across German firms before and during the Covid-19 crisis. Our analysis tracks the nature, timing, and pandemic-related motivations behind technology investments, using tailor-made longitudinal survey data linked to administrative worker-firm...

We investigate the diffusion of frontier technologies across German firms before and during the Covid-19 crisis. Our analysis tracks the nature, timing, and pandemic-related motivations behind technology investments, using tailor-made longitudinal survey data linked to administrative...

This study investigates how crises affect firms’ adoption of frontier technologies using the Covid-19 pandemic as a case study. The analysis tracks the nature, timing, and pandemic-related motivations of investments among German firms, using longitudinal survey data linked with administrative...

The recovery rate of capital determines lenders' credit supply, and in equilibrium, affects the demand and total credit amounts. Recent rising intangibles in the US may reduce recovery. I use CRSP/Compustat database to find that firms and industries with higher asset tangibility, a proxy for the...

This paper investigates the role of output fluctuations and exchange rate volatility in driving US foreign direct investments. Using a sample of 46 economies over the period 1982-2009, we provide evidence of a positive relation between US FDI and host country's cyclical conditions. Allowing for...

We estimate a DSGE model with (S,s) inventory policies. We find that (i) taking inventories into account can significantly improve the empirical fit of DSGE models in matching the standard business-cycle moments (in addition to explaining inventory fluctuations); (ii) (S,s) inventory policies...