IDEAS home Printed from https://ideas.repec.org/p/iie/wpaper/wp03-2.html
   My bibliography  Save this paper

Is Germany Turning Japanese?

Author

Listed:
  • Adam S. Posen

    (Peterson Institute for International Economics)

Abstract

After the recent IT bubble, Germany alone among OECD countries is beginning to share Japan's political-economic profile: too many banks with too little capital, macroeconomic policy division and deflationary bias, and financially and politically passive households. Germany has been spared Japan's fate of persistent stagnation so far because of its long-standing openness and commitment to international economic integration. But this commitment is newly in jeopardy, as Germany backs an approach to the European Union's enlargement that would elevate the power and interests of larger incumbent nations - a shift from Germany's traditional support for EU federalism. The change in the German approach to EU enlargement could well tip the country into a full-fledged Japan syndrome.

Suggested Citation

  • Adam S. Posen, 2003. "Is Germany Turning Japanese?," Working Paper Series WP03-2, Peterson Institute for International Economics.
    • Handle: RePEc:iie:wpaper:wp03-2
    as

    Download full text from publisher

    File URL: https://www.piie.com/publications/working-papers/germany-turning-japanese
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mehrotra, Aaron, 2007. "A note on the national contributions to the euro area M3," Bank of Finland Research Discussion Papers 2/2007, Bank of Finland.
    2. Jorg Bibow, 2005. "Bad for Euroland, Worse for Germany: The ECB's Record," Economics Working Paper Archive wp_429, Levy Economics Institute.
    3. Adam Posen, 2003. "It Takes More Than a Bubble to Become Japan," RBA Annual Conference Volume (Discontinued), in: Anthony Richards & Tim Robinson (ed.),Asset Prices and Monetary Policy, Reserve Bank of Australia.
    4. Georg Erber, 2003. "Deflationsgefahr in Deutschland und die Geldpolitik der EZB," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(11), pages 3-9, June.
    5. repec:zbw:bofrdp:2007_002 is not listed on IDEAS
    6. Daniel Leigh, 2004. "Monetary Policy and the Dangers of Deflation:Lessons from Japan," Economics Working Paper Archive 511, The Johns Hopkins University,Department of Economics.

    More about this item

    Keywords

    Germany; Japan; economy; banks; banking; macroeconomic; international economic integration;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:iie:wpaper:wp03-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peterson Institute webmaster (email available below). General contact details of provider: https://edirc.repec.org/data/iieeeus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.