Despite exporting more good and services than any other country in the world, economic growth in Germany has been slow through the nineties and the early twenty first century with low wage growth, rising unemployment and increasing public deficits. German unemployment was traditionally diagnosed as structural, neglecting macroeconomic causes of economic stagnancy in the economic policy debate. This book offers a fresh, innovative analysis of the German economic policy debate, containing essays from eight distinguished international economists.
These essays tackle various aspects of the German and European market, ranging from theoretical issues criticizing the narrowness of the debate, analyses of the real effects of monetary policies in the short and long run, fiscal policy contributions, wage policies, to family policies, arguing for a more expansionary macroeconomic policy to counteract economic stagnancy and improve prosperity in Germany and Europe.
Table of Contents
1. Introductory Summary: Prosperity for Germany and Europe Ronald Schettkat 2. Broadening the Discussion of Macroeconomic Policy Robert M. Solow 3. Monetary Policy and the Real Economy Paul de Grauwe and Claudia Costa Storti 4. Germany in the Monetary Union, Charles Wyplosz 5. Reforms, Macroeconomic Policy and Economic Performance in Germany Wendy Carlin and David Soskice 6. Exportweltmeister: So What? - Better Goals for German Foreign Economic Policy Adam Posen 7. Wanted: A New German Wirtschaftswunder Richard B. Freeman
Ronald Schettkat is Professor of Economics at the Bergische UniversitÃ¤t Wuppertal in Germany.