The excess sensitivity of investment to cash flow has been demonstrated in numerous studies. Recent research has identified differences in the degree of sensitivity across countries, which it ascribes to the nature of the lender-borrower relationship in the financial systems of those countries....

Nach den aktuellen Ergebnissen zeichnet sich im deutschen Verarbeitenden Gewerbe für 2018 ein Anstieg der Gesamtinvestitionen, d.h. der Investitionen in neue Ausrüstungen und Gebäude, um 12% ab. Für 2017 ergaben die Meldungen der Firmen einen Zuwachs von 3%. Wie schon in den vergangenen...

In this paper we investigate the dynamic adjustment of labour and capital in German and Dutch firms. The Dutch labour market is characterised by greater flexibility in wages and work arrangements in comparison to Germany. These institutional differences imply that employment dynamics in the two...

While the US experienced two successive labor productivity surges in 1995 and 2000, Germany's productivity declined dramatically during the same period. We examine the sources of Germany's productivity demise using the ifo industry growth accounting database that provides detailed industry-level...