Summary In pursuing their plans economic agents regularly have to adjust their pacing of orders, production, and deliveries in unanticipated ways. Information constraints turn many of these adjustments into myopic reactions to accelerations/decelerations observed in the activity level of...

Purpose – The purpose of this paper is to investigate the extent to which the authors can use internet search data in order to capture the impact of the 2008 Financial and Economic Crisis on well-being. Design/methodology/approach – The authors look at the G8 countries with a special focus...

Summary A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable...

Purpose – The aim of the paper is to discuss developments in non-residential real estate in Greece. Design/methodology/approach – Given the lack of existing literature, the authors start by discussing at length the data sources available, and analyzing the stylized facts of non-residential...

Abstract Beschäftigte in Tätigkeiten, für die keine Berufsausbildung erforderlich ist (einfache Arbeit), gelten schon seit längerem als problematische Personengruppe des Arbeitsmarkts. Anhand der Daten des IAB-Betriebspanels setzt sich dieser Beitrag mit der Entwicklung der einfachen Arbeit...

Abstract This paper studies the business cycle dynamics of income and wealth distributions in the context of the neoclassical growth model where agents are heterogeneous in initial wealth and non-acquired skills. Our economy admits a representative consumer which enables us to characterize...

Abstract The relative demand for skills has increased considerably in many OECD countries during recent decades. This development is potentially explained by capital-skill complementarity and high growth rates of capital equipment. When production functions are characterized by capital-skill...

Summary This paper applies multivariate linear discriminant analysis to classify West German business cycles from 1955 to 1994 into a four phase scheme (upswing, downswing, and upper/lower turning point phases). It describes the scheme as well as the selection of the classifying variables, and...

Summary Using a binary reference series based on the dating procedure of Artis, Kontolemis and Osborn (1997) different procedures for predicting turning points of the German business cycles were tested. Specifically, a probit model as proposed by Estrella and Mishkin (1997) as well as...