A Different View of Germany's Stagnation
The authors fundamentally question the claims that institutional sclerosis explains the present economic stagnation in Germany. Instead, they argue that the combined effects of restrictive monetary policies, restrictive and sometimes pro-cyclical fiscal policies, and overly moderate wage policies in Germany since the mid-1990s explain the stagnation. Finally, they recommend more expansive fiscal and monetary policies in the short run, and conditions that allow for real wage growth in Germany based on long-run national productivity growth.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 48 (2005)
Issue (Month): 6 (November)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106043|
When requesting a correction, please mention this item's handle: RePEc:mes:challe:v:48:y:2005:i:6:p:64-94. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.