IDEAS home Printed from https://ideas.repec.org/a/ids/ijpubp/v7y2011i1-2-3p83-96.html
   My bibliography  Save this article

Peripheral Europe's debt and German wages: the role of wage policy in the Euro area

Author

Listed:
  • Engelbert Stockhammer

Abstract

The paper argues that the Greek debt crisis, as well as those of other Southern European countries and Ireland, has to be seen in macroeconomic context. The sum of the public sector balance, the (domestic) private sector balance and the current account deficit (or equivalently: the capital inflows) has to add up to zero. By implication in a country that has a current account deficit either the private sector or the public sector has to run a deficit. Therefore, the peripheral countries can only solve their public debt problems if there is a change in German current account surpluses. The paper explores the implications of this for wage policy in the Euro zone.

Suggested Citation

  • Engelbert Stockhammer, 2011. "Peripheral Europe's debt and German wages: the role of wage policy in the Euro area," International Journal of Public Policy, Inderscience Enterprises Ltd, vol. 7(1/2/3), pages 83-96.
    • Handle: RePEc:ids:ijpubp:v:7:y:2011:i:1/2/3:p:83-96
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=39577
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    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:ids:ijpubp:v:7:y:2011:i:1/2/3:p:83-96. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=97 .

    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.