This paper uses a large panel of survey data on German firms in the manufacturing sector to analyse the effects of financing constraints for investors in general and for innovative firms in particular. Survey data with information on financing conditions are potentially a valuable tool that...

The ongoing financial crisis so far cost the German financial sector 38 billion Euros due to losses on its mortgage-related subprime bank exposures. This paper looks for the impact of these losses on the real sector of the economy. First, the financial sector is looked at as part of the overall...

Insbesondere Klein- und mittlere Unternehmen haben in den letzten beiden Jahren ihre Investitionsvorhaben wegen Finanzierungsproblemen aufgeschoben. Dies zeigte eine im Juni 2004 vom ifo Institut durchgeführte Telefonumfrage bei 1 100 Führungskräften in Industrie, Bau, Handel und...