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|c 5.00 USD
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|z 9781498328524
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|a 1934-7685
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|a BD-DhAAL
|c BD-DhAAL
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|a International Monetary Fund.
|b European Dept.
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|a Germany :
|b Selected Issues.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2014.
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|a 1 online resource (72 pages)
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|a IMF Staff Country Reports
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This Selected Issues paper on Germany focuses on current economic condition in the country. The build-up of Germany's current account surplus over the last decade does not lend itself to a single-factor explanation, as both global and domestic factors, as well as policy changes led to increased savings and lower investment. All sectors contributed to the build-up of the surplus. Although fiscal consolidation and higher household savings played a role, the corporate sector experienced a more pronounced shift. This paper provides a retrospective on these developments and explores whether the factors contributing to the surplus are likely to be reversed going forward. Although there are common global drivers for the non-financial corporations shift to a net lender position, several German-specific factors played a role, notably the labor market reforms in the 2000s, the business tax reforms, and the globalization of German firms' production chains. The households' saving-investment gap widened in the early 2000s as the pension reforms and growing income inequality boosted households' savings and residential investment declined by the end of the reunification construction boom.
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|a Mode of access: Internet
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|a IMF Staff Country Reports; Country Report ;
|v No. 2014/217
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/002/2014/217/002.2014.issue-217-en.xml
|z IMF e-Library
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