This paper discusses a large-scale factor model for the German economy. Following the recent literature, a data set of 121 time series is used via principal component analysis to determine the factors, which enter a dynamic model for German GDP. The model is compared with alternative univariate...

In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental housing, this variant of the imputation method may cause...

This paper discusses the forecasting performance of alternative factor models based on a large panel of quarterly time series for the german economy. One model extracts factors by static principals components analysis, the other is based on dynamic principal components obtained using frequency...

Theory of financial intermediation gives contradicting answers to the question whether banks should diversify or focus their loan portfolios. Our aim is to find out which of the two strategies is predominant in the German banking market. To this end we measure diversification for all German...

Banks face a tradeoff between diversifying and focusing their loan portfolio. In this paper we carry out an empirical study for the German market to shed light on the question whether or not the benefits of risk sharing outweigh those of specialization. We use data from the Bundesbank's...

This paper investigates the changes in the German wage structure for fulltime working males from 1999 to 2006. Our analysis builds on the task-based approach introduced by Autor et al. (2003), as implemented by Spitz-Oener (2006) for Germany, and also accounts for job complexity. We perform a...

Calculation of purchasing power parities based on observed consumer behaviour typically relies on the existence of some kind of 'international preferences'. We argue that this unrealistic assumption can be abandoned in 'regional' studies of purchasing power, where prices in both territories...

In some countries a Paasche price index based on unit values is compiled as a proxy for a true Paasche (or Laspeyres) price index on the basis of prices. This is for example the case in German foreign trade statistics. Unit values are average prices referring to a 'commodity number' (CN), that...

Erneuerbare Energien tragen wesentlich zum Klimaschutz, zur Schonung erschöpfbarer Ressourcen und zur Energieversorgungssicherheit bei. Ziel der Europäischen Union ist es, den Anteil erneuerbarer Energien bis 2020 auf mindestens 20 Prozent des Energieverbrauchs zu erhöhen. Deutschlands Anteil...

Die Energiewirtschaft befindet sich in einem gravierenden Umbau. Erneuerbare Energien expandieren stark. Längerfristig könnten sie zur Hauptquelle der Energieversorgung werden und damit wesentlich zum Klimaschutz, zur Schonung erschöpfbarer Ressourcen und zur Versorgungssicherheit beitragen....