Between 1995 and 2005, the German economy has experienced a phase of weak economic growth. We analyze whether this weak growth performance can be attributed to the stance of monetary conditions during that period. We show that the real effective exchange rate did have almost no dampening effects...

Governmental policies of subsidizing the economy have become one of the most contentious issues on the international agenda throughout the past years. For a long time, the debate about the rights and wrongs of subsidization has often been conducted in the Federal Republic of Germany as though it...

The concept of rules for monetary policy has been more and more critized in recent years. The Deutsche Bundesbank is also urged to give up monetary targeting. The idea is that the economic performance could be improved if monetary policy became more pragmatic and was more concerned about slow...