Die Unternehmen des westdeutschen Verarbeitenden Gewerbes wollen nach den aktuellen Ergebnissen des ifo Investitionstests 2011 rund 14% mehr in neue Bauten und Ausrüstungsgüter investieren als im vergangenen Jahr. Im Jahr 2010 dürften sich die Investitionen nach den Meldungen auf dem...

Nach den aktuellen Ergebnissen des ifo Investitionstests wollen die Unternehmen des westdeutschen Verarbeitenden Gewerbes 2012 rund 6% mehr in neue Bauten und Ausrüstungsgüter investieren als im letzten Jahr. Für das Jahr 2011 ergaben die Meldungen der Erhebungsteilnehmer einen Anstieg von...

Are firms’ expectations systematically too optimistic or too pessimistic? Does it matter? We use micro data from the West German manufacturing subset of the IFO Business Climate Survey to infer quarterly production changes at the firm level and combine them with production expectations over a...

Nach den neuesten Ergebnissen des ifo Investitionstests haben die Industrieunternehmen in Westdeutschland im Jahr 2010 gut 38 Mrd. Euro in neue Bauten und Ausrüstungen investiert. Dies entspricht einem Zuwachs von knapp 3%. Aufgrund nahezu stabiler Preise für Investitionsgüter liegt der reale...

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this question in the context of a heterogeneous-firm RBC model with persistent firm-level productivity shocks and lumpy capital adjustment, where cyclical changes in uncertainty...

Using a German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The cross-sectional...

Are firms` expectations systematically too optimistic or too pessimistic? Does it matter? We use micro data from the West German manufacturing subset of the IFO Business Climate Survey to infer quarterly production changes at the firm level and combine them with production expectations over a...

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...

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this question in the context of a heterogeneousfirm RBC model with persistent firm-level productivity shocks and lumpy capital adjustment, where cyclical changes in uncertainty...

Using a unique German firm-level data set, this paper is the first to jointly study the cyclical properties of the cross-sections of firm-level real value added and Solow residual innovations, as well as capital and employment adjustment. We find two new business cycle facts: 1) The...