This volume contains a group of papers written on the eve of German Unification by the IMF team working with the German Government. It covers many of the critical economic policy issues, and especially those on which the debate was most vigorous. It is very much a "first take" on many of these...

This study reviews and analyzes economic development and polices in Federal republic of Germany in 1980. It traces the dynamics of the cyclical upswing that began at the end of 1982 and describes the geneses of two major imbalances in German economy: high unemployment and large external...

This paper models alternative policy responses to various sorts of disturbances-or "shocks"-to the steady-state path of a developing economy. Its objective is to arrive at some generalizations about appropriate credit and exchange rate policies. (One result, for example, focuses on the folly of...

The effects of the oil price shocks of the 1970s were critically contingent on the domestic arrangements that determined the incidence of the shocks--specifically whether labor income or capital income bore the brunt. This differed between the two shocks in some countries and differed between...