focused on stability and growth Macropolicies focused on stability and growth 1956=100 When the deutschmark was introduced in 1948, after years of painful experiences with previous paper money, West Germans were able to hold a stable currency in their hands for the very first time. The deutschmark proved to beRead More →
Key ‘export’ is the legal system Another key ‘export’ is the legal system, which ranks highly in all international comparisons. Germany also regularly occupies leading positions in rankings of governance and administration quality. This formidable success is the result of a unique combination of micro- and macroeconomic factors, as wellRead More →
German chancellor Helmut Schmidt During his election campaign in 1972, the German chancellor Helmut Schmidt said he would prefer 5% inflation to 5% unemployment. However, the situation in Germany has shown that price stability and low rates of unemployment can be compatible, despite what the Phillips curve might otherwise suggest.Read More →
Ruled by only eight chancellors For example, since 1949 early elections have been called just three times in Germany. The country has been ruled by only eight chancellors who have served for an average of more than eight years. There has been neither turmoil due to property bubbles nor privateRead More →
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