In this paper, we exploit exogenous variation in navigability of the Rhine river to analyze the impact of weather-related supply shocks on economic acti

We investigate the impact of errors in medium run tax revenue forecasts on the final budget balance. Our analysis is based on fiscal data for the entirety of German states and takes advantage of revenue forecasts and respective errors that can be...

KBW 19: Measures of potential output and the output gap are of great importance for policy-makers who need to assess the cyclical position of the economy and its productive capacity.

KBW 12: The trend decline of productivity growth in Germany is not due to a single cause but is the result of the interplay of multiple factors with time-varying relative importance.

KBW 5: The report addresses potential effects on the German economy by the extremely expansionary monetary policy of the Eurosystem with large liquidity flows into Germany. The authors discuss various monetary transmission channels from a theoretical...