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This paper establishes stylized facts about the cyclicality of real consumer wages and real producer wages in Germany …
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Using the approach suggested by Gabaix (Econometrica 2011) this paper demonstrates that idiosyncratic shocks in the largest firms are important for an understanding of aggregate volatility in German manufacturing industries. The implications of this finding for theoretical and empirical research...
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In standard error correction models GDP and credit share a long-run cointegration relationship with causality running from GDP to credit. The models are inconclusive about the question whether credit has also a positive impact on GDP. A reason for the mixed effects is the dual nature of credit,...
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We examine the comovements between the output indexes of three German sectors (manufacturing, mining, and agriculture) and the three corresponding sectoral stock market indexes. It is found that data with and without seasonal adjustment give mixed results on the long-run interaction between the...
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Die Corona-Krise hat die konjunkturelle Zweiteilung zwischen der Industrie und dem Dienstleistungsbereich beendet …. Während sich die deutsche Industrie bereits seit Anfang 2018 in einer Rezession befand, zeigten sich die stärker … derZusammenhang zwischen Wertschöpfung und Beschäftigung in der Industrie im Vergleich zu früheren Industrierezessionen abgeschwächt …
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