IDEAS home Printed from https://ideas.repec.org/a/cpn/umkeip/v15y2016i4p469-480.html
   My bibliography  Save this article

Institutional and legal conditions for the German stabilization policy during the economic crisis 2008–2009

Author

Listed:
  • Katarzyna Kaminska

    (Kujawy and Pomorze University)

Abstract

Motivation: The economic crisis of 2008–2009 and its consequences have raised a debate among economists concerning the effectiveness of methods stabilizing economy arising from the recommendations of economic theories forming the mainstream economy. Results: The necessity to take anti-crisis measures in the countries affected by it resumed the interest in the recommendations proposed within this realm by John Maynard Keynes. Keynesian solutions have been globally adopted as a basis for anti-crisis stabilization policy. In economic policy it has been manifested primarily as the increased government intervention in economy via the increase of costs and enlarged budget deficits. One of the countries that have applied such a solution was the Federal Republic of Germany. Aim: The aim of this article is presenting the institutional and legal means of German stabilization policy as well as attempting to evaluate their effectiveness in restoring macroeconomic balance in Germany. In this regard, Keynesian Act to Promote Economic Stability and Growth, passed in 1967, which enabled using the appropriate remedial measures was addressed in detail.

Suggested Citation

  • Katarzyna Kaminska, 2016. "Institutional and legal conditions for the German stabilization policy during the economic crisis 2008–2009," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 15(4), pages 469-480, December.
    • Handle: RePEc:cpn:umkeip:v:15:y:2016:i:4:p:469-480
    DOI: 10.12775/EiP.2016.031
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.12775/EiP.2016.031
    Download Restriction: no
    File URL: https://libkey.io/10.12775/EiP.2016.031?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Projektgruppe Gemeinschaftsdiagnose, 2009. "Zögerliche Belebung – steigende Staatsschulden: Gemeinschaftsdiagnose Herbst 2009," Wirtschaft im Wandel, Halle Institute for Economic Research (IWH), vol. 15(2. Sonder), pages 1-79.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Projektgruppe Gemeinschaftsdiagnose, 2011. "Joint Economic Forecast Spring 2011: Upswing continues - European Debt Crisis still Unresolved," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(08), pages 03-63, April.
    2. repec:ilo:ilowps:484519 is not listed on IDEAS
    3. Projektgruppe Gemeinschaftsdiagnose, 2010. "Economic Upswing in Germany - Major Decisions Facing Economic Policy," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 63(20), pages 03-61, October.
    4. Hans Fehr & Wolfgang Scherf & Michael Eilfort & Guido Raddatz, 2009. "Budget consolidation: Should reversing new government borrowing be started only after the crisis has been overcome?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 62(21), pages 03-12, November.
    5. Ulrich van Suntum & Cordelius Ilgmann & Wolfgang Hönig & Stephan Götzl, 2009. "How should the afflicted banks be re-capitalised?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 62(24), pages 03-16, December.
    6. Eicker-Wolf, Kai. & Truger, Achim., 2014. "Demystifying a "shining example" : German public finances under the debt brake," ILO Working Papers 994845193402676, International Labour Organization.
    7. Projektgruppe Gemeinschaftsdiagnose, 2010. "The Recovery Continues - Considerable Risks Remain," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 63(08), pages 03-78, April.

    More about this item

    Keywords

    stabilization policy; keynesianism; Act to Promote Economic Stability and Growth;
    All these keywords.

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpn:umkeip:v:15:y:2016:i:4:p:469-480. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Miroslawa Buczynska (email available below). General contact details of provider: http://www.wydawnictwoumk.pl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.