The task of vitalizing the east German economy was severely underestimated—by politicians as well as by both the academic and the business community. Despite all the encouraging signs in east Germany, which undeniably exist, the process will take more time, require more money, and need more...

The "Gemeinschaftsdiagnose" [Joint Diagnosis (JD)] is the most influential semi-annual mac-roeconomic forecast in Germany. Jointly produced by up to six institutes, its accuracy as well as the large number of involved participants is often criticised. This study examines the JD's growth and...