Germany

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Opinion

Guntram B. Wolff

Europa sinnvoll gestalten

Die Debatte um die Zukunft Europas sollte gerade in Deutschland konstruktiv geführt werden. Es profitiert von einer stabilen EU und trägt entscheidend zur Fortentwicklung Europas bei. Einer zentralen Diskussion wird man sich stellen müssen: Wie kann die Stabilität des Euroraums erhöht werden? Der hier skizzierte Ansatz wäre eine Möglichkeit für einen Kompromiss.

By: Guntram B. Wolff Topic: European Macroeconomics & Governance Date: May 10, 2017
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Policy Contribution

PC 12 2017COVER

The global decline in the labour income share: is capital the answer to Germany’s current account surplus?

Analysing the major divergences between the three largest euro-area countries in terms of unit labour costs and current accounts, to the broader debate on labour income shares. Data suggests that capital and labour have been complements.

By: Bennet Berger and Guntram B. Wolff Topic: European Macroeconomics & Governance Date: April 26, 2017
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Opinion

Georg Zachmann

Nord Stream 2: a bad deal for Germany and Eastern Europe

Georg Zachmann argues that the Nord Stream 2 project is a danger to the European consensus on relations with Russia. What is more, it could undermine efforts to diversify Europe's gas supply and might risk higher prices for Eastern Europe.

By: Georg Zachmann Topic: Energy & Climate Date: July 18, 2016
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Blog Post

Dalia Marin

Inequality in Germany – how it differs from the US

The pay gap between workers and CEOs in Germany is driven by a lack of managers. Income inequality could fall if there were more managers available for companies to hire. Firms should start hiring more CEOs who are women or from abroad.

By: Dalia Marin Topic: European Macroeconomics & Governance Date: July 5, 2016
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Past Event

Past Event

Challenges for Europe and Germany: a view from the German Council of Economic Experts

What are the key challenges facing Europe's largest economy, and what will Germany's responses mean for the EU?

Speakers: Zsolt Darvas, Lucrezia Reichlin, Christoph M. Schmidt and Isabel Schnabel Topic: European Macroeconomics & Governance Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: December 4, 2015
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Opinion

Guntram B. Wolff

The ECB and politics in an era of low interest rates

The ECB is often criticised for its low interest rate policy - especially in Germany, where this is felt to be an attack on savers. However, this argument fails to recognise that real interest rates have been falling since the 1980s.

By: Guntram B. Wolff Topic: European Macroeconomics & Governance Date: November 25, 2015
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Blog Post

Georg Zachmann

The European Energy Union: Slogan or an important step towards integration?

The broad definition of an Energy Union may enable the European Commission to facilitate a radical compromise between the member states. Because Germany's energy and climate policy goals can be realised only within the European network, the country ought to play an active role in this process.

By: Georg Zachmann Topic: Energy & Climate Date: September 17, 2015
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Blog Post

Emmanuel Mourlon-Druol

European leaders want the UK to stay, but are best friends forever?

The Conservative Party’s election victory leaves little doubt as to the holding of a referendum on continued British EU membership in 2016 or 2017. While the official content of British demands remains vague at the moment, the reaction of Britain’s partners to the prospect of negotiations is made public every day.

By: Emmanuel Mourlon-Druol Topic: European Macroeconomics & Governance Date: May 26, 2015
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Blog Post

Zsolt Darvas
Pia Hüttl

Why a Grexit is more costly for Germany than a default inside the euro area

Direct losses for Germany would be much larger if Greece was to exit the euro.

By: Zsolt Darvas and Pia Hüttl Topic: European Macroeconomics & Governance Date: January 16, 2015
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Opinion

Ashoka Mody

Kohl’s Euro

The great challenge today is to undo the legacy of Kohl’s rhetoric. Breaking up the euro is too costly. Thus the task is to weaken the ties that bind while preserving the peace and unity. Let go the central fiscal rules and let countries deal with their private creditors. Staying the present course will deepen animosities—and the debt defaults will happen in any case. Soon, it may be too late to pull back.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: December 23, 2014
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Blog Post

Jim O‘Neill

A crazy idea about Italy

Italy needs growth in nominal GDP to stop its debt burden from rising any further. It also needs to reform its economy, raise its productivity and boost its labour force to do this in a lasting way. But as long as it remains a member of the euro system, there'll be no aid from a devalued currency. This means it needs Germany's help.

By: Jim O‘Neill Topic: European Macroeconomics & Governance Date: November 25, 2014
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Opinion

Ashoka Mody

Germany relishes role of hegemon, but is not able to play the part

German Finance Minister Wolfgang Schäuble recently declared that the European Union has “moved sovereignty to the European level” – a startling claim, given that European governments seem to be pursuing their national interests more aggressively than at any time since World War II.

By: Ashoka Mody Topic: European Macroeconomics & Governance Date: April 15, 2014
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