Germany's socio-economic model and the Euro crisis
By: DAUDERSTÄDT, Michael
.
Material type: 
ArticlePublisher: São Paulo : Editora 34, jan./mar. 2013Subject(s): Crise Econômica | Reforma Econômica | Economia Social | Inflação | Alemanha | AlemanhaOnline resources: Acesso Revista de Economia Política = Brazilian Journal of Political Economy 33, 1, p. 3-16Abstract: Germany's socio-economic model, the "social market economy", was established in West Germany after World War II and extended to the unified Germany in 1990. During a prolonged recession after the adoption of the Euro in 1998, major reforms (Agenda 2010) were introduced which many consider as the key of Germany's recent success. The reforms had mixed results: employment increased but has consisted to a large extent of precarious low-wage jobs. Growth depended on export surpluses based on an internal real devaluation (low unit labour costs) which make Germany vulnerable to global recessions as in 2009. Overall inequality increased substantially
Germany's socio-economic model, the "social market economy", was established in West Germany after World War II and extended to the unified Germany in 1990. During a prolonged recession after the adoption of the Euro in 1998, major reforms (Agenda 2010) were introduced which many consider as the key of Germany's recent success. The reforms had mixed results: employment increased but has consisted to a large extent of precarious low-wage jobs. Growth depended on export surpluses based on an internal real devaluation (low unit labour costs) which make Germany vulnerable to global recessions as in 2009. Overall inequality increased substantially
v. 33, n. 1(130)
Click on an image to view it in the image viewer
There are no comments for this item.