A long-standing question in macroeconomic research pertains to the causes of business cycle fluctuations in macroeconomic variables like output and investment. This column uses survey data from the German manufacturing sector to show that aggregate variations in investment and output are mainly due to aggregate demand shocks. These shocks resemble swings in business and consumer sentiment but, for the most part, have no obvious relation to macroeconomic policy.
Rüdiger Bachmann, Peter Zorn, 02 March 2018
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Events
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30 May - 1 June 2018 / Palma de Mallorca (Mallorca) - Spain / EAYE (European Association of Young Economists) - University of the Balearic Islands
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18 - 19 June 2018 / European Central Bank, Frankfurt am Main, Germany / European Central Bank
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12 - 13 September 2018 / Rome, Italy / European Center of Sustainable Development , CIT University
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14 - 15 June 2018 / Ancona, Italy / Money and Finance Research Group (MoFiR), together with the Joint Research Centre of the European Commission and the Università Politecnica delle Marche
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16 - 17 May 2018 / London / The Economic Statistics Centre of Excellence, the Office for National Statistics and the Bank of England
