The German experience of the crisis was very different compared to those of most other countries in
Europe. Germany was hit by a very strong shock which was relatively concentrated in the exporting,
manufacturing industries. In addition, the German labour market was very resilient during the crisis due
to earlier labour market reforms and policy instruments facilitating labour hoarding. As a consequence,
public finances were only moderately affected and not many policy reforms had to be enacted. This
chapter will present the German experience of the financial crisis. We start by presenting the
macroeconomic situation and how the crisis unfolded in Germany, before focusing on the situation of
public finances. Finally, we analyse the policy responses to the financial crisis.
Dieser Eintrag ist Teil der Universitätsbibliographie.
Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.
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