Publications

Policy Note 2003/4 | August 2003

Pushing Germany Off the Cliff Edge

Germany’s fiscal crisis cannot be attributed to unification per se; it arose as a consequence of ill-guided macroeconomic policies pursued in response to that event. Many structural problems that popped up along the way were mere symptoms of persistent macroeconomic mismanagement and protracted stagnation. Since Germany provided the blueprint for Europe's stability-oriented macroeconomic policy regime, the risk is that the “German disease” is spreading throughout the regime and, potentially, beyond Europe.


Publication Highlight

Public Policy Brief No. 157
Is It Time for Rate Hikes?
The Fed Cannot Engineer a Soft Landing but Risks Stagflation by Trying
Author(s): Yeva Nersisyan, L. Randall Wray
April 2022

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