Search Results
Speech
Is German economic decline exaggerated or inevitable?
Remarks before the the American Academy, Berlin, Germany, November 20, 2006 ; "Persistence in pursuing economic reform will solve the problems that threaten Germany's future. Germany must 'press on' with needed reforms to its laws and to its attitudes toward competition and the pursuit of excellence."
Working Paper
The great inflation and early disinflation in Japan and Germany
This paper considers the Great Inflation of the 1970s in Japan and Germany. From 1975 onward, these countries had low inflation relative to other large economies. Traditionally, this success is attributed to stronger discipline on the part of Japan and Germany?s monetary authorities?for example, more willingness to accept temporary unemployment, or greater determination not to monetize government deficits. I instead attribute the success of these countries from the mid-1970s to their governments? and monetary authorities? acceptance that inflation is a monetary phenomenon. Likewise their ...
Journal Article
Our stake in German economic recovery