A Study in West German Stabilization Policy, 1956-1974. German Studies Notes. First Draft.

Autor/in	Neumann, Manfred J. M.
Institution	Indiana Univ., Bloomington. Inst. of German Studies.
Titel	A Study in West German Stabilization Policy, 1956-1974. German Studies Notes. First Draft.
Quelle	(1976), (53 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Credit (Finance); Economic Change; Economic Climate; Economic Development; Economic Factors; Economic Research; Economics; Finance Reform; Foreign Countries; Futures (of Society); Government Role; Graphs; Monetary Systems; Money Management; Public Policy; Statistical Analysis; Tables (Data); West Germany + Suchen Sie Ihr Suchwort? Credit; Kredit; Ökonomischer Wandel; Wirtschaftslage; Wirtschaftsentwicklung; Ökonomischer Faktor; Wirtschaftsforschung; Volkswirtschaftslehre; Financial reform; Finanzreform; Ausland; Future; Society; Zukunft; Grafische Darstellung; Monetary system; Währungssystem; Öffentliche Ordnung; Statistische Analyse; Tabelle
Abstract	The dominant driving force of past movements in West German output and prices is investigated and a review of government policy undertaken to stabilize these movements is presented. Three alternative impulse hypotheses are tested: the monetary, the fiscal, and the foreign impulse hypothesis. The major results of the tests are that: (1) monetary impulses dominate fiscal impulses in shaping cyclical fluctuations of domestic output as well as of the price level; (2) while the evidence corroborates the hypothesis that fiscal impulses contribute to the emergence of inflation, it does not support the contention that fiscal impulses have any significant net effects on the growth of output in the shorter run; and (3) real foreign impulses play a significant role with respect to both movements of the domestic price level as well as changes in output. The author concludes that the traditional tying of government spending and tax policies to the shorter run considerations of stabilization policy lacks justification. Chapters provide some basic information on the performance of the economy during the past two decades, describe the testing of the three impulse hypotheses, and discuss the controllability of the money supply. The last chapter presents a summary and conclusions. Charts, statistical tables, graphs and footnotes are presented. The document concludes with comments on the paper by James M. Boughton of Indiana University. (Author/DB)
Anmerkungen	Institute of German Studies, Ballantine Hall 655, Indiana University, Bloomington, Indiana 47401 ($1.00)
Erfasst von	ERIC (Education Resources Information Center), Washington, DC