The German National Debt (original) (raw)
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Germany: Recent Economic Developments and Selected Issues
IMF Staff Country Reports, 1996
Area and population Total area Total population (1995) GDP per capita (US dollar) Germany: Basic Data 357,041 square kilometers 81.8 million 29.6 thousand Germany Demand and supply Private consumption Public consumption Gross fixed investment Construction Machinery and equipment inventory accumulation I/ Total domestic demand Exports of goods and nonf actor services Imports of goods and nonf actor services Foreign balance I/ GDP Western Eastern Labor force Employment Unemployed In percent of labor force Western Eastern Prices and incomes GDP deflator Consumer price index Western Eastern Average hourly earnings (industry) Unit labor costs (total economy) Real disposable income 2/ Personal saving ratio (In percent) 1992 I/ Change as percent of previous year's GDP. 2/ Deflated by the national accounts deflator for private consumption. (Percantage changes at 1991 prices) Banlesent and unemployment ©International Monetary Fund. Not for Redistribution vii-Germany: Basic Data (concluded) Germany Public finances I/ General government Expenditure Revenue Financial balance (In percent of GDP) Deficit of the territorial authorities (In percent of GDP) Borrowing requirement of the Treuhand Federal government Financial balance (In percent of GDP) General government debt (In percent of GDP) Balance of payments Trade balance (f .o.b./f .o.b.) 2/ Services balance Net private transfers Net official transfers Current account (In percent of GDP) Foreign exchange reserves (e.o.p) Monetary data Money and quasi-money (M3) Domestic bank lending Of which lending to: Public authorities Private nonbanks CHART 1-3 Germany Confidence, Orders, Inventory-Sales Ratio, and Production i ' B ' if * Sources: Deutsche Bundesbank; Bundesministerium fuer Wirfschaft; IFO Institute; IMF, International Financial Statistics and staff calculations. I/ Data prior to 1991 are for West Germany only. 2/ Percentage of those surveyed expecting an improvement in their situation, less percentage expecting a deterioration.
IMF Staff Country Reports, 2017
This Selected Issues paper on Germany was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on
German public finances: Recent experiences and future challenges
2001
We thank conference participants, particularly our discussant Carsten Wendorff, for their stimulating comments and Johannes Clemens for sharing his knowledge and data on the German pension system. The opinion expressed are those of the authors and do not necessarily reflect views of the European Central Bank.
SSRN Electronic Journal, 2017
This contribution summarizes insights as regards the effects of public debt in the form of a treatise.
Sustainability of Public Debt in Germany – Historical Considerations and Time Series Evidence
Jahrbücher für Nationalökonomie und Statistik
SummaryWe analyse German public finances against a theoretical background using a unique database, retrieved from multiple sources covering the period between 1850 and 2010.Multiple currency crises and force majeure offer anecdotal evidence contradicting the historical perception of Germany being the poster child of European public finance. Given these corresponding breaks in time series, the empirical analysis is conducted for the sub-periods 1872-1913 and 1950- 2010. In addition to anecdotal historical analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the estimation of Vector Autoregression (VAR) and Vector Error Correction Models (VECM). While we cannot reject the hypothesis that fiscal policy was sustainable in the period before the First World War, the tests allow for a rejection of the hypothesis of fiscal sustainability for the period from 1950 to 2010. This evidence leads to the conclusion that Germany’s public ...
Public debt around the world: A new data set of Central Government Debt
2009
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Reparations, Deficits, and Debt Default: The Great Depression in Germany
Lessons for Today, 2013
Germany's Great Depression of the early 1930s started in 1929 with a sudden stop in the current account. It ended after a foreign debt default that unfolded in several stages from 1931 to 1933. This chapter reviews Germany's macroeconomic history between the goldbased stabilisation of 1924 and the transition to autarky and domestic credit expansion in 1933. During the Dawes Plan of 1924-29, German borrowed abroad massively to pay reparations out of credit, a phenomenon that gave rise to the debate about the transfer problem between Keynes and his critics. An incentive based interpretation of the transfer problem is sketched to explain the later current account reversal. Time-varying VARs are employed to trace the propagation of the resulting macroeconomic shock, and to obtain estimates of fiscal multipliers.