European Parliament Library

Germany :, Selected Issues

This Selected Issues paper identifies episodes of large and sustained current account surpluses in advanced economies (AEs) and compares Germany’s ongoing surplus with those episodes. In doing so, the paper aims to put Germany’s external position in a historical and cross-country context drawing from 55 years of data across 20 AEs. The comparison shows that the real growth of all domestic demand components, particularly of private investment, was remarkably weak during the latest sustained surplus episode in Germany in comparison with both “normal times” and other AE surplus episodes. Neither Germany’s nor a typical AE surplus episode has been accompanied by visible, broad-based competitiveness or terms of trade gains
Table Of Contents
Cover; CONTENTS; GERMANY'S SUSTAINED CURRENT ACCOUNT SURPLUS: AN INTERNATIONAL COMPARISON; A. Main Macroeconomic Indicators; B. Relative Prices; C. Exits from Surplus Episodes; FIGURES; 1. Large and Persistent Current Account Surpluses: Expenditure Items; 2. Large and Persistent Current Account Surpluses: Effective Exchange Rates and Terms of Trade; 3. Large and Sustained Surpluses: Advanced Economies; TABLE; 1. List of Large and Sustained Current Account Surpluses in AEs; References; WOULD HIGHER GERMAN WAGES HELP EURO AREA REBALANCING AND RECOVERY?
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (36 p.)
Specific Material Designation
Form Of Item

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