Das Handwerk gilt in Hinblick auf den Umsatz und die Beschäftigung als Konjunkturstabilisator. Dieser Einschätzung widersprechen allerdings verschiedene wissenschaftliche Untersuchungen. Welche Kräfte hier prozyklisch und welche antizyklisch wirken, lässt sich durch eine...

We study the Beaudry and Portier (2006)-hypothesis of delayed-technology diffusion and news-driven business cycles. For German data on TFP and stock prices we find qualitatively similar empirical evidence. Quantitatively, however, an impulse response analysis suggests that a substantial part of...

OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, we estimate the common factor that drives unemployment by the first principal component. This factor has...

Labour productivity distribution (dispersion) is studied within the framework of statistical physics and the result is compared with the outcome of the empirical analysis. Superstatistics is presented as a natural theoretical framework for the productivity distribution. The demand index ê is...

We present a model in which investors observe the same macroeconomic data but have varying levels of information about the parameters that determine the distribution of the expected returns on investment. During a crisis that increases macroeconomic uncertainty and reduces asset prices, the...

The occupational skill structure depends on the business cycle if employers respond to shortages of applicants during upturns by lowering their hiring standards. Devereux uses this implication to construct empirical tests for the notion of hiring standards adjustment (the so-called Reder...

Die deutsche Wirtschaft befindet sich am Beginn einer sich festigenden konjunkturellen Erholung, die jetzt auch mehr und mehr ihren Niederschlag am Arbeitsmarkt findet. Welche Unterschiede bestehen zwischen den Entwicklungen in Westdeutschland und Ostdeutschland? Wie wirkt sich die Asienkrise...