IDEAS home Printed from https://ideas.repec.org/p/gro/rugggd/199733.html
   My bibliography  Save this paper

"1968" and the German Economy

Author

Listed:
  • Lindlar, Ludger

    (Groningen University)

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 externalties from the extensive use of cheap energy and environmental resources inevitably required adjustment. But the institutions and attitudes that underpinned the postwar economic prosperity were incapable to engineer gradual change. Rather, the political and economic events of the late 1960s and early 1970s triggered off rapid adjustment requirements that culminated in rising inflation and stagnating output ? the stagflation of the mid 1970s.

Suggested Citation

  • Lindlar, Ludger, 1997. ""1968" and the German Economy," GGDC Research Memorandum 199733, Groningen Growth and Development Centre, University of Groningen.
  • Handle: RePEc:gro:rugggd:199733
    as

    Download full text from publisher

    File URL: http://irs.ub.rug.nl/ppn/317326864
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    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:gro:rugggd:199733. 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: Hanneke Tamling (email available below). General contact details of provider: https://edirc.repec.org/data/ferugnl.html .

    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.