Von Brüssel bis Berlin: Ein kritischer Blick auf die deutschen Leistungsbilanzüberschüsse
Keywords: European Union, European Debt Limit, Savings Glut, Current Account Surplus
AbstractGermany has one of the highest current account surpluses in the world. This is criticised by its global trading partners and is subject to the European Macroeconomic Imbalance Procedure as well as to the IMF and the new us-government. However, this phenomenon is interpreted quite disparately. The paper argues that periods of weak domestic demand and a saving surplus over investment has left lasting traces. How could Germany find out ways to increase domestic demand, especially its public and private investment, to reduce its surplus? Political actions should focus directly on the distortions and misallocations that potentially result from an imbalance. The article discusses Bernanke’s thesis of savings glut in mature economies. As a political consequence, this means turning away from the politics of European debt limits and installing a limit on balance on current account
How to Cite
Ehrig, D. (2018). Von Brüssel bis Berlin: Ein kritischer Blick auf die deutschen Leistungsbilanzüberschüsse. Estonian Discussions on Economic Policy, 25(2). https://doi.org/10.15157/tpep.v25i2.13969
Articles. Artikeln. Artiklid
Copyright (c) 2018 Estonian Discussions on Economic Policy
This work is licensed under a Creative Commons Attribution 4.0 International License.The publication Estonian Discussions on Economic Policy uses the Creative Commons Attribution 4.0 License. With the delivery of a paper, the author grants to the Board also the right to publish the paper in the journal. The journal has set no obstacles or prohibitions to the authors for the future, and according to the current practice, authors subsequently use their paper as they consider it appropriate. Authors are personally responsible for the content, correct spelling and formatting of their publications.