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Der deutsche Leistungsbilanzüberschuss — Fluch oder Segen?
[German Current Account Surplus — Bane or Boon?]

Author

Listed:
  • Michael Grömling

    () (Institut der deutschen Wirtschaft Köln)

  • Jürgen Matthes

    () (Institut der deutschen Wirtschaft Köln)

  • Heiko Peters

    () (Deutsche Bank Research)

  • Philipp Harms

    () (Johannes Gutenberg-UniversityMainz)

  • Gustav Horn

    () (IMK in der Hans-Böckler-Stiftung)

  • Fabian Lindner

    () (IMK in der Hans-Böckler-Stiftung)

Abstract

Zusammenfassung Deutschlands Leistungsbilanzüberschuss steht international in der Kritik. Er übersteigt deutlich die Zielvorgaben im Rahmen des Makroökonomischen Überwachungsverfahrens der Europäischen Union. Welche Ursachen die auseinanderlaufende Entwicklung der Exporte und Importe hat, wird allerdings sehr unterschiedlich interpretiert. Die einen sehen hier die Fortentwicklung von Basiseffekten einzelner außergewöhnlicher Jahre, andere vermuten eine zu geringe Binnennachfrage und eine aus verschiedenen Gründen deutliche Steigerung der Sparquote. In Zukunft dürfte allerdings die demografische Entwicklung in Deutschland die Leistungsbilanzüberschüsse schrumpfen lassen.

Suggested Citation

  • Michael Grömling & Jürgen Matthes & Heiko Peters & Philipp Harms & Gustav Horn & Fabian Lindner, 2016. "Der deutsche Leistungsbilanzüberschuss — Fluch oder Segen?
    [German Current Account Surplus — Bane or Boon?]
    ," Wirtschaftsdienst, Springer;German National Library of Economics, vol. 96(11), pages 787-805, November.
  • Handle: RePEc:spr:wirtsc:v:96:y:2016:i:11:d:10.1007_s10273-016-2052-7
    DOI: 10.1007/s10273-016-2052-7
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    Cited by:

    1. Jan Priewe, 2018. "A time bomb for the Euro? Understanding Germany's current account surplus," IMK Studies 59-2018, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

    More about this item

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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