Bornhorst, Fabian; Mody, Ashoka - 2012 - This Draft: October 29, 2012
; Economic Recovery ; Current Account ; Productivity ; Labor Market ; Spillovers ; Germany …From its early post-war catch-up phase, Germany's formidable export engine has been its consistent driver of growth …. But Germany has almost equally consistently run current account surpluses. Exports have powered the dynamic phases and …