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Too Much of a Good Thing? Households’ Macroeconomic Conditions and Credit Dyn...
Favorable macroeconomic conditions, accompanied by optimistic consumer confidence, can stimulate and shape households' expectations in such a way that they gradually extrapolate... -
Sudden Stop: When Did Firms Anticipate the Potential Consequences of COVID-19?
COVID-19 hit firms by surprise. In a high frequency, representative panel of German firms, the business outlook declined and business uncertainty increased only at the time when... -
Parity Funding of Health Care Contributions in Germany: A DSGE Perspective
Germany reintroduced parity funding of the statutory health insurance scheme in January 2019 by lowering the contribution rates for employees and raising those for employers,...