Combining micro and macro data, we construct demand-side shocks, which we take to be exogenous for individual firms. We … match the impulse-response functions from the estimated reduced-form model. Firms' reactions to demand-side shocks are well …

assess short-term regimes of aggregate demand and distribution in Germany. The obtained Impulse Response Functions (IRFs) of … (contemporaneous) causation. For the neo-Goodwinian baseline model, a profit-led demand schedule and a pro-cyclical wage-share are … positive shocks in the direct wage-share had a stronger (negative) impact on aggregate demand, than the supervisory wage share …

production increases. The theory of economies of scale provides justification for this kind of behavior. In this manner, the …

production increases. The theory of economies of scale provides justification for this kind of behavior. In this manner, the …

adjustmentvery well. Although inputs adjust slowly, production responds quickly to the demand shock andthis adjustment is explained …