market institutions in both the USA and Germany. Particular emphasis is given to the substantial differences between the US … and Germany in the ways important areas are regulated. The authors show that the impact of institutions on economic …

cycle in Germany and in the United States. Previous research has found that, firstly, the extensive margin dominates and … Germany it is quite volatile over time. In general the intensive margin in Germany is more important than in the United States … Great Recession and the subsequent time period the intensive margin is dominant in Germany independent of the choice of the …