Post Reunification Economic Fluctuations in Germany: A Real Business Cycle Interpretation

Michael Flor ()

No 324, Discussion Paper Series from Universitaet Augsburg, Institute for Economics

Abstract: We consider the cyclical properties of the German economy prior and after reunification in 1990 from the perspective of a real business cycle model. The model provides the framework for the selection and consistent measurement of the variables whose time series properties characterize the cycle. Simulations of the calibrated model reveal the model's potential to interpret the data. Major findings are that: i) the volatility of most aggregate time series has not changed significantly between the two time periods, ii) despite many conceptual differences between the European and the U.S. System of Accounts, the calibrated parameter values for the German economy are within the range of values usually employed in the real business cycle literature, iii) the model is closer to the data for the time period prior to reunification.

Keywords: Macroeconomic Data; National Income; Product Accounts; Economic Fluctuations; Real Business Cycles (search for similar items in EconPapers)
JEL-codes: C82 E01 E32 (search for similar items in EconPapers)
Date: 2014-04
New Economics Papers: this item is included in nep-bec, nep-dge, nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Journal Article: Post reunification economic fluctuations in Germany: a real business cycle interpretation (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:aug:augsbe:0324

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