This volume contains the contributions to the 4th Workshop of the Institute for Economic Research Halle IWH (www.iwh-halle.de) in macroeconometrics held in November 2003. The workshop takes place every year and is especially designed for the presentation of new work in the field of applied econometric research.
The contributions cover a variety of empirical issues, including economic growth, business cycle dynamics, and monetary analysis. Among others, the papers examine the role of certain factors on economic growth, like economic integration, foreign direct investment, defense expenditures, and bond market developments. Business cycle issues refer to the decreasing volatility of output and real wage dynamics. In addition, the monetary transmission process is discussed.