Germany’s Post-2000 Stagnation in the European Context — a Lesson in Macroeconomic Mismanagement

Eckhard Hein and Achim Truger

Chapter 12 in Aspects of Modern Monetary and Macroeconomic Policies, 2007, pp 223-247 from Palgrave Macmillan

Abstract: Abstract Since the mid-1990s Germany’s economic performance with respect to GDP growth, the development of unemployment and also the budget deficit has been considerably worse than the Euro area average (Hein and Truger 2005a, 2005b). However, this relative economic weakness might have gone almost unnoticed if it had not been for the slowdown of the world economy after 2000. By the end of 2002 it had become obvious that Germany had been hit much harder by this slowdown and did not manage to recover. For the first time unemployment rose above the Euro area average and the budget deficit exceeded the 3 per cent limit of the European Stability and Growth Pact (SGP).

Keywords: Monetary Policy; Euro Area; Real Interest Rate; European Monetary Union; Nominal Wage (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Germany's post-2000 stagnation in the European context - a lesson in macroeconomic mismanagement (2006)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62734-5_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230627345

DOI: 10.1057/9780230627345_12

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().