Am 17. Dezember 2013 stellte das ifo Institut im Rahmen seines vorweihnachtlichen Pressegesprächs seine Prognose für die Jahre 2013 und 2014 vor. Die gesamtwirtschaftliche Produktion in Deutschland wird sich im kommenden Jahr beschleunigen. Darauf deutet das ifo Geschäftsklima hin, das in den...

Am 13. Dezember 2012 stellte das ifo Institut im Rahmen seines vorweihnachtlichen Pressegesprächs seine Prognose für die Jahre 2012 und 2013 vor. Die Weltkonjunktur hat sich seit der Mitte des vergangenen Jahres zunehmend abgekühlt. Dies machte sich, wenn auch in unterschiedlichem Ausmaß, in...

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that these subjective investment determinants 1) capture...

We study price-setting behavior in German firm-level survey data to infer the relative importance of supply and demand during the Covid-19 pandemic. Supply and demand forces coexist, but demand shortages dominate in the short run. A reported negative impact of Covid-19 on current business is...

We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. We find a strong degree of monetary non-neutrality. After expansionary monetary policy, the mass of additional price adjustments is economically small and...

Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The response to macroeconomic shocks is hump-shaped, just as in aggregate data. The effects of sectoral innovations decrease monotonically. A calibrated model of investment with...

We study price-setting behavior in German firm-level survey data to infer the relative importance of supply and demand during the Covid-19 pandemic. Supply and demand forces coexist, but demand shortages dominate in the short run. A reported negative impact of Covid19 on current business is...

Using firm-level survey data for the West German manufacturing sector, this paper revisits the technology-driven business cycle hypothesis for the case of aggregate investment. We construct a survey-based measure of technology shocks to gauge their contribution to short-run investment...

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that these subjective investment determinants 1) capture...

We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. After expansionary monetary policy, the increase in the frequency of price change is economically small, the average absolute size across all price...