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| Autor/in | Kindleberger, Charles P. |
|---|---|
| Institution | Indiana Univ., Bloomington. Inst. of German Studies. |
| Titel | Germany's Persistent Balance-of-Payments Disequilibrium Revisited. German Studies Notes. |
| Quelle | (1976), (58 Seiten)
PDF als Volltext kostenfreie Datei |
| Dokumenttyp | gedruckt; online; Monographie |
| Schlagwörter | Banking; Banking Vocabulary; Comparative Analysis; Economic Change; Economic Climate; Economic Factors; Economic Status; Economics; Exports; Financial Policy; Financial Problems; Foreign Countries; International Trade Vocabulary; Problem Solving; Socioeconomic Influences; Germany; United States |
| Abstract | This essay compares Germany's persistent financial disequilibrium with the balance of payments situation in the United States. Delivered at a Symposium on German Economic Growth and Stability, the author concentrates on Germany's balance of payments surplus and presents U.S. figures mainly as a point of comparison. The material on Germany has been subdivided into four topics: (1) "structural aspects," which is said to include strong post war capital goods demands, high export rates and industry efficiency, all of which are associated with a high propensity for average and marginal savings; (2) "absorption," which is defined as the difference between output and spending; (3) "the level of domestic investment," which the author maintains is lower in Germany than in foreign markets due to a sluggish German response to interest rate changes; and (4) "policy," which the author points out is consistently set in the direction of resisting inflation, regardless of other variables. The conclusion is that well-functioning capital markets and international coordination are necessary to counteract the absorption which presently dominates the current-account balance. Comments on the paper by William P. Travis of Indiana University are presented as are tables, charts, and excerpts from economic literature. (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 |
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