Download East Germany’s Economic Development since Unification: by Anja Hochberg, Jens Hölscher PDF

By Anja Hochberg, Jens Hölscher

The first ebook within the reviews in fiscal Transition sequence applies the idea of financial improvement to the financial system of East Germany. 8 years after the unification of Germany, the ebook offers a finished and lots more and plenty wanted review of the transition procedure within the East, its impression at the German economic system as an entire and the $64000 broader classes for eu integration and expansion. the original fiscal scan of the unification of the German economies supplied a great chance for various colleges of financial thought to be demonstrated and tested. The members to this e-book take complete benefit of this challenge.

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Extra resources for East Germany’s Economic Development since Unification: Domestic and Global Aspects

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The starting point for the concept of supply-side economics was the central problem of economic policy: the evil of unemployment. For the German Council the lack of jobs is related to an expansive wage policy, a policy that disregards the fact that wages are a cost factor. Why? It is obvious that if you want to buy goods and you are willing to work for that, you must have a job - and in an economic system characterised by division of labour you will find a job only if you do not demand a higher wage than others are willing to pay for the result of your work.

In anticipation of such vast borrowing requirements, the Council of Economic Experts warned: 'The funding of German unification will leave deep marks on the public budget.. We see this high public borrowing with great concern' (Sachverstandigenrat 1991, p. 22, 23). Due to the fact that about 50 per cent of transfer payments relate to the incorporation of the East into the West German welfare and financial system, whilst only 20 per cent and 10 per cent refer to investments in the physical infrastructure and fiscal policy in the East respectively (iwd 24/1996, p.

56). In anticipation of such vast borrowing requirements, the Council of Economic Experts warned: 'The funding of German unification will leave deep marks on the public budget.. We see this high public borrowing with great concern' (Sachverstandigenrat 1991, p. 22, 23). Due to the fact that about 50 per cent of transfer payments relate to the incorporation of the East into the West German welfare and financial system, whilst only 20 per cent and 10 per cent refer to investments in the physical infrastructure and fiscal policy in the East respectively (iwd 24/1996, p.

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