{
  "title": "Germany In An Interconnected World Economy",
  "publication": "Books, April 10, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/books/issues/2016/12/31/germany-in-an-interconnected-world-economy-26173",
  "canonical": "https://www.imf.org/en/publications/books/issues/2016/12/31/germany-in-an-interconnected-world-economy-26173",
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  "summary": "Germany has been a central player in discussions on the future architecture of Europe, and has been called on to play a larger role in supporting global and, especially, European recovery from the financial crisis that triggered the Great Recession.",
  "sections": [
    {
      "heading": "Overview and key findings",
      "content": "- Germany has been a central player in discussions on the future architecture of Europe and has been called on to play a larger role in supporting global and, especially, European recovery from the financial crisis that triggered the Great Recession.\n- The book shows that the quantitative effects of a German fiscal stimulus would be small on the heavily indebted euro area periphery countries that most need the boost.\n- The book finds that Germany itself faces a growth challenge and that efforts to raise its own growth potential are important for Germany.\n- More rapid growth of domestic demand in Germany will more powerfully stimulate European economic growth through its expanded demand for imports."
    },
    {
      "heading": "Policy implications and analysis",
      "content": "- A German fiscal stimulus alone is unlikely to generate large positive spillovers to heavily indebted euro area periphery countries.\n- Strengthening Germany’s own growth potential is important both for Germany and for Europe, because domestic-demand-led growth in Germany increases import demand and thereby stimulates European growth more effectively than unilateral fiscal measures aimed at external spillovers."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Current account; Employment; Financial sector policy and analysis; Labor; Labor markets; Production; Productivity; Spillovers; Total factor productivity\n- Keywords: Asia and Pacific; BOOK; Central Asia; Eastern Europe; economist in the European Department; economist in the Ministry of Finance; Employment; Europe; Germany; Global; growth shock; IMF staff estimate; labor market; Labor markets; Middle East; Productivity; productivity growth; spillover effect; Spillovers; structural policy; TFP growth; Total factor productivity\n\n---\n\n\nSource: https://www.imf.org/en/publications/books/issues/2016/12/31/germany-in-an-interconnected-world-economy-26173"
    }
  ],
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    "Authors: Ashoka Mody",
    "Published: April 10, 2013",
    "Series: Books",
    "DOI: https://doi.org/10.5089/9781616354244.071",
    "Germany has been a central player in discussions on the future architecture of Europe and has been called on to play a larger role in supporting global and, especially, European recovery from the financial crisis that triggered the Great Recession.",
    "The book shows that the quantitative effects of a German fiscal stimulus would be small on the heavily indebted euro area periphery countries that most need the boost.",
    "The book finds that Germany itself faces a growth challenge and that efforts to raise its own growth potential are important for Germany.",
    "More rapid growth of domestic demand in Germany will more powerfully stimulate European economic growth through its expanded demand for imports.",
    "A German fiscal stimulus alone is unlikely to generate large positive spillovers to heavily indebted euro area periphery countries.",
    "Strengthening Germany’s own growth potential is important both for Germany and for Europe, because domestic-demand-led growth in Germany increases import demand and thereby stimulates European growth more effectively than unilateral fiscal measures aimed at external spillovers.",
    "Subject: Current account; Employment; Financial sector policy and analysis; Labor; Labor markets; Production; Productivity; Spillovers; Total factor productivity",
    "Keywords: Asia and Pacific; BOOK; Central Asia; Eastern Europe; economist in the European Department; economist in the Ministry of Finance; Employment; Europe; Germany; Global; growth shock; IMF staff estimate; labor market; Labor markets; Middle East; Productivity; productivity growth; spillover effect; Spillovers; structural policy; TFP growth; Total factor productivity"
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