The German federal government's fiscal consolidation package, announced in June, is designed to permanently reduce the federal deficit to a new target level. This article uses a three-region version of the European Commission's QUEST model to gauge the impact of the package on Germany and the...

Parallel to the economic growth and the increase of the living standards in the Eastern bloc the import requirements of its member countries are rising, too. For this reason all Western industrial nations make increasing efforts to establish themselves in these markets with good future prospects...