Arbeitspapier
Germany's post-2000 stagnation in the European context - a lesson in macroeconomic mismanagement
In the present paper we question the mainstream diagnosis of Germany's post-2000 stagnation as well as the prescribed remedies. We show that the institutional sclerosis' view of Germany's stagnation is unfounded and that therefore the political measures proposed and actually taken are misguided. Instead, we claim that macroeconomic mismanagement explains the German absolute and relative stagnation compared with the Euro area as a whole and with the USA. If the problem of macroeconomic mismanagement is not addressed and solved, irrespective of occasional cyclical upswings, we predict a continuing stagnation tendency for the German economy. And we argue that this is not only a German problem, but a matter of European concern, because the macroeconomic policies which have caused the German constellation will have major negative feedback effects on the other Euro area countries in the near future.
- Language
-
Englisch
- Bibliographic citation
-
Series: IMK Working Paper ; No. 3/2006
- Classification
-
Wirtschaft
Central Banks and Their Policies
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Fiscal Policy
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
Incomes Policy; Price Policy
Studies of Particular Policy Episodes
- Subject
-
Macroeconomic policy
structural reforms
unemployment
growth
inflation
- Event
-
Geistige Schöpfung
- (who)
-
Hein, Eckhard
Truger, Achim
- Event
-
Veröffentlichung
- (who)
-
Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
- (where)
-
Düsseldorf
- (when)
-
2006
- Handle
- URN
-
urn:nbn:de:101:1-20080814142
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Hein, Eckhard
- Truger, Achim
- Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
Time of origin
- 2006
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