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Daniel Bendel / Markus Demary / Manfred Jäger-Ambrożewicz IW-Trends No. 3 25. September 2013 Business Cycle Analysis with an Equilibrium Model for the German Economy
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Business Cycle Analysis with an Equilibrium Model for the German Economy
Daniel Bendel / Markus Demary / Manfred Jäger-Ambrożewicz IW-Trends No. 3 25. September 2013

Business Cycle Analysis with an Equilibrium Model for the German Economy

IW-Trends

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German Economic Institute (IW) German Economic Institute (IW)

Controversy rages as to whether the recession in Germany in 2009 was caused by a slump in world trade or by a supply shock due to the problems in the banking sector. According to the new DSGE model developed by the Cologne Institute for Economic Research (IW Köln) the severe downturn in the German economy was triggered by both declining foreign demand and a drop in productivity. However, the productivity shock can also be ex-plained by surplus capacity and declining investment activity. To this extent, therefore, it also reflects a demand shock, though, due to their structure, the DSGE models cannot adequately describe this.

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Business Cycle Analysis with an Equilibrium Model for the German Economy
Daniel Bendel / Markus Demary / Manfred Jäger-Ambrożewicz IW-Trends No. 3 25. September 2013

Daniel Bendel / Markus Demary / Manfred Jäger-Ambrożewicz: Konjunkturanalyse mit einem Gleichgewichtsmodell für die deutsche Wirtschaft

IW-Trends

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German Economic Institute (IW) German Economic Institute (IW)

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IW-Cooperationcluster Makroökonomie and Konjunktur IW-Report No. 67 14. December 2022

The IW Economic Forecast Winter 2022: The Business Cycle in the Grey Zone

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Michael Grömling IW-Trends No. 2 9. May 2022

The Productivity Effects of Capital Formation in Germany

Despite broad-based digitalisation, productivity advances in Germany in recent years have been considerably lower than in previous decades. This paper conducts a growth accounting which points to steeply declining stimuli from technical progress and especially ...

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