This paper analyzes the determinants of German exports to the euro area, which is by far the biggest market for German … investment aggregates, the corresponding real external values and a proxy for European market integration to explain exports. The …

impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate … whether uncertainty over future interest rates in the Euro area hampers monetary policy transmission. In this non-linear model … 'play' area. Second, we apply an algorithm describing path-dependent play-hysteresis to estimate investment hysteresis using …