By Anja Hochberg, Jens Hölscher
The first e-book within the stories in fiscal Transition sequence applies the speculation of monetary improvement to the financial system of East Germany. 8 years after the unification of Germany, the publication presents a accomplished and masses wanted review of the transition approach within the East, its impression at the German economic climate as a complete and the $64000 broader classes for ecu integration and expansion. the original monetary scan of the unification of the German economies supplied a very good chance for various colleges of monetary thought to be confirmed and tested. The participants to this booklet take complete benefit of this challenge.
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Extra info for East Germany’s Economic Development since Unification: Domestic and Global Aspects
One aim is to limit the necessary adjustment burdens on the individuals. This strategy includes the idea of preserving as many old jobs as possible as long as there is a lack of new ones. In doing so, the fact is accepted that the state or the social insurance systems have to make up for what the market cannot pay in wages, and that the reorganising of old enterprises that cannot be privati sed might turn the Treuhand agency into a permanent institution as a state holding company. Our political leadership cannot simultaneously pursue both strategies; there has to be a clear decision in favour of one of them.
Jumpstart. The Economic Unification of Germany. MIT Press, Massachusetts, 1994. -W. Macroeconomic Aspects of German Unification. J. ) Economic Aspects of German Unification: Expectations, Transition Dynamics and International Perspectives. 2nd edition, Berlin, Heidelberg and New York, Springer-Verlag, pp. 135-89. fJnungsbilanzen zum 1. luti 1990. Berlin, Treuhandanstalt, October 1992. 3 Economic Policy for the New German Lander: Supply-Side Economics Needed Michael Hiither GERMAN UNIFICATION AND THE TASKS OF ECONOMIC POLICY Unification changed substantially the conditions for all fields of economic policy in both parts of Germany, but the basic concept of supply-side economics gained even more importance.
After this argumentation detour, the real focus now is on the origin of the lack of investments or, to put it more precisely, the lack of job-creating investments. The issue of a sufficient level of investment activity leads to a particular problem of co-ordination: even a free-market system does not have any reliable mechanism that would ensure that the total of all futureoriented production plans of businesses - as expressed by their investment activities - always meets the total of the employment and production wishes of those who form the labour force potential.