Stabilization Policy in France and the Federal Republic of Germany
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The object of this book is to compare the macroeconomic characteristics of the French and German economies. It focusses on the effect of stabilization policy and of international disturbances and tries to find out the trade-offs of economic policy. The study is based on a simulation analysis using large-scale econometric models of the two countries. Instead of using models as black boxes the dynamic structures are compared in considerable detail. This entails decomposing the models into blocs of strategic sets of equations. Comparing bloc by bloc allows one to distinguish between the contribution of various economic processes (price-wage dynamics, monetary mechanism, multiplier-accelerator interaction) to macroeconomic performance.Main features: Franco-German comparison of macroeconomic response to policy measures and international shocks; Evaluation of policy trade-offs; Detailed institutional and historical background to macro-policy in France and Germany.
Table of Contents
- Introduction. Preface. Aims and Methods of an International Macroeconomic Comparison (G. de Ménil and U. Westphal). Part I. Introduction. 1. Transfer Policies, Income and Employment in France (G. de Ménil and J. Sastra). 2. Transfer Policies, Income and Employment in Germany (W.-D. Neutmann and U. Sander). Comparative Summary. Part II. 3. Tax Incentives, Monetary Policy and Investment in France and Germany (P. Artus et al.). Part III. Introduction. 4. Exchange Rates, Prices, Wages and the Current Account in France (P. Artua and P. Nasse). 5. Exchange Rates, Prices, Wages and the Current Account in Germany (J. Kröger and P. Pauly). Comparative Summary. Part IV. Introduction. 6. Monetary Mechanisms and Exchange Rates in France (M. Feroldi). 7. Monetary Mechanisms, Government Deficits and External Constraints in Germany (M. Schulze-Ghattas and U. Westphal). Comparative Summary. Part V. 8. The Dilemmas of Economic Policy in France and Germany: Trade-offs between Inflation, Unemployment and the Current Account (C. Bismut and J. Kröger). 9. The Transmission of International Disturbances to the French and German Economies, 1972-1980 (G. de Ménil and U. Westphal). Index.
- Language: English
- Copyright: © North Holland 1985
- Published: January 1, 1985
- Imprint: North Holland
- eBook ISBN: 9781483290775
About the Editors
G. de Ménil
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