Pushing Germany Off the Cliff Edge
AbstractGermany's fiscal crisis cannot be attributed to unification per se; it arose as a consequence of ill-guided macroeconomic policies pursued in response to that event. Many structural problems that popped up along the way were mere symptoms of persistent macroeconomic mismanagement and protracted stagnation. Since Germany provided the blueprint for Europe's stability-oriented macroeconomic policy regime, the risk is that the "German disease" is spreading throughout the regime and, potentially, beyond Europe.
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Bibliographic InfoPaper provided by Levy Economics Institute in its series Economics Policy Note Archive with number 03-4.
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-02-08 (All new papers)
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