Universität zu Köln

Bloemer, Maximilian J., Dolls, Mathias, Fuest, Clemens, Loeffler, Max and Peichl, Andreas (2015). German Public Finances through the Financial Crisis. Fisc. Stud., 36 (4). S. 453 - 475. HOBOKEN: WILEY-BLACKWELL. ISSN 1475-5890

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Abstract

The German experience of the financial crisis was very different from that of most other European countries. Germany was hit by a very strong shock that was relatively concentrated in the exporting, manufacturing industries. In addition, the German labour market was very resilient during the crisis due to earlier labour market reforms and policy instruments facilitating labour hoarding. As a consequence, the public finances were only moderately affected and not many policy reforms had to be enacted. This paper presents the German experience of the financial crisis. We start by presenting the macroeconomic situation and how the crisis unfolded in Germany, before focusing on the situation of the public finances. Finally, we analyse the policy responses to the financial crisis.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Bloemer, Maximilian J. UNSPECIFIED UNSPECIFIED UNSPECIFIED Dolls, Mathias UNSPECIFIED UNSPECIFIED UNSPECIFIED Fuest, Clemens UNSPECIFIED UNSPECIFIED UNSPECIFIED Loeffler, Max UNSPECIFIED UNSPECIFIED UNSPECIFIED Peichl, Andreas UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-385253
DOI:	10.1111/j.1475-5890.2015.12073
Journal or Publication Title:	Fisc. Stud.
Volume:	36
Number:	4
Page Range:	S. 453 - 475
Date:	2015
Publisher:	WILEY-BLACKWELL
Place of Publication:	HOBOKEN
ISSN:	1475-5890
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language SHORT-TIME WORK; GREAT RECESSION; EUROPE Multiple languages Business, Finance; Economics Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/38525