The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion. Ten years after the Global Financial Crisis, GDP...

The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion. Ten years after the Global Financial Crisis, GDP...

Business investment in the euro area strongly declined during the Global Financial Crisis and the Sovereign Debt Crisis. It has not yet rebounded to its pre-crisis trend despite the very expansionary monetary policy measures of the ECB. We analyse the sluggish recovery in business investment in...

Die deutsche Wirtschaft müht sich aus der Stagnation. Im kommenden Jahr dürfte die Wirtschaftsleistung wieder zulegen. Eine große konjunkturelle Dynamik ist aber nicht absehbar. Vor allem die recht kräftigen Zuwächse des real verfügbaren Einkommens werden den privaten Konsum anschieben....

Productivity growth in many advanced economies has decelerated in the last decades. There is increasing evidence that the misallocation of production function has contributed to the weakness in productivity. Factors behind this misallocation could include low interest rates or credit booms. In...

Die Erholung der deutschen Wirtschaft wird abermals ausgebremst. Das Infektionsgeschehen im Winterhalbjahr hemmt wie in früheren Wellen besonders die Aktivität in den kontaktintensiven Dienstleistungsbranchen. Im Ergebnis wird es zu einem Rückschlag bei den privaten Konsumausgaben kommen und...