Capital flows and real estate are pro-cyclical, and real estate has a substantial weight in economies' income and wealth. In this paper, we study the role of real estate markets in the transmission of bank flow shocks to output growth across German cities. The empirical analysis relies on a new...

This paper uses an unbalanced panel data set for exporting firms from manufacturing industries in one German Federal state, Lower Saxony, to investigate the microstructure of the recent export boom. Looking at data for 1995/96 - 2001/2002 it is demonstrated that a considerable number of plants...