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"1968" and the German Economy

Author

Listed:
  • Lindlar, L.

Abstract

The turning point in the postwar economic development of West Germany was 1973, not 1968. But the massive increase of the world prices for energy in 1973 did not hit an economy with bright prospects for stable growth rates and low inflation. Contrary, the pattern of economic growth of the 1960s was not sustainable. Union wage restraint despite extremely tight labor markets, limited exchange rate adjustments despite mutually incompatible objectives of domestic macroeconomic policies and huge, but largely unrecognized negative externalities from the extensive use of cheap energy and environmental resources inevitably required adjustment.

Suggested Citation

  • Lindlar, L., 1997. ""1968" and the German Economy," Papers 33, Groningen State, Institute of Economic Research-.
    • Handle: RePEc:fth:gronig:33
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    More about this item

    Keywords

    ECONOMIC DEVELOPMENT ; GERMANY;

    JEL classification:

    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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