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Germany

Germany PDF
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498328520
Size: 49.52 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 72
View: 3808

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This Selected Issues paper on Germany focuses on current economic condition in the country. The build-up of Germany’s current account surplus over the last decade does not lend itself to a single-factor explanation, as both global and domestic factors, as well as policy changes led to increased savings and lower investment. All sectors contributed to the build-up of the surplus. Although fiscal consolidation and higher household savings played a role, the corporate sector experienced a more pronounced shift. This paper provides a retrospective on these developments and explores whether the factors contributing to the surplus are likely to be reversed going forward. Although there are common global drivers for the non-financial corporations shift to a net lender position, several German-specific factors played a role, notably the labor market reforms in the 2000s, the business tax reforms, and the globalization of German firms’ production chains. The households’ saving–investment gap widened in the early 2000s as the pension reforms and growing income inequality boosted households’ savings and residential investment declined by the end of the reunification construction boom.

Germany

Germany PDF
Author:
Publisher:
ISBN:
Size: 76.78 MB
Format: PDF, Kindle
Category :
Languages : en
Pages : 99
View: 785

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Germany

Germany PDF
Author: G. Russell Kincaid
Publisher:
ISBN:
Size: 28.92 MB
Format: PDF, ePub, Docs
Category : Germany
Languages : en
Pages : 166
View: 6999

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Germany Selected Issues

Germany  Selected Issues PDF
Author: International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451810462
Size: 12.29 MB
Format: PDF, ePub, Docs
Category :
Languages : en
Pages : 114
View: 1392

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The study on selected issues first focuses on business fixed investment, then analyzes the profitability of Germany's banking sector and looks at restructuring options, and finally, examines the international dimensions of Germany's financial sector. The paper reviews the various ways in which public policy could contribute to restructuring, drawing on the experiences of other countries that have had large public banking sectors. There is no evidence that either recent tax reforms or weak U.S. growth has had a significant independent impact on investment.

Germany

Germany PDF
Author: Emine Boz
Publisher:
ISBN: 9781513517728
Size: 73.60 MB
Format: PDF, Kindle
Category : Balance of payments
Languages : en
Pages : 35
View: 3718

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This Selected Issues paper identifies episodes of large and sustained current account surpluses in advanced economies (AEs) and compares Germany's ongoing surplus with those episodes. In doing so, the paper aims to put Germany's external position in a historical and cross-country context drawing from 55 years of data across 20 AEs. The comparison shows that the real growth of all domestic demand components, particularly of private investment, was remarkably weak during the latest sustained surplus episode in Germany in comparison with both "normal times" and other AE surplus episodes. Neither Germany's nor a typical AE surplus episode has been accompanied by visible, broad-based competitiveness or terms of trade gains.

Germany

Germany PDF
Author:
Publisher:
ISBN:
Size: 36.72 MB
Format: PDF, Kindle
Category :
Languages : en
Pages : 165
View: 7139

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Germany

Germany PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451810326
Size: 36.55 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 114
View: 3647

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This Selected Issues paper and Statistical Appendix analyzes Germany’s past fiscal policy behavior and assesses the likely adjustments that would be necessary to bring future fiscal policy behavior in line with European Monetary Union and the Stability and Growth Pact requirements. Using estimated fiscal policy reaction functions that take account Germany’s decentralized fiscal decision-making structure, the statistical results suggest that discretionary fiscal policy at the general government level has maintained a procyclical stance since the end of the 1970s. The paper also examines disaggregated labor market developments in Germany.

Germany

Germany PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 145181030X
Size: 33.83 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 175
View: 5094

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This Recent Economic Developments and Selected Issues paper highlights that Germany’s recovery from the 1993 recession, which had already been weaker than the previous three recoveries, stalled in the third quarter of 1995; output subsequently contracted in the fourth quarter of 1995 and first quarter of 1996. After rising by almost 3 percent in 1994 and at an annual rate of 21⁄2 percent (seasonally adjusted) during the first half of 1995, real GDP stagnated in the third quarter and fell by 0.6 percent (seasonally adjusted, annual rate) in the fourth quarter of 1995.

Germany

Germany PDF
Author: Albert Jäger
Publisher:
ISBN: 9780119864779
Size: 51.82 MB
Format: PDF, Docs
Category :
Languages : en
Pages : 99
View: 4494

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This report on Selected Issues was prepared by staff from the International Monetary Fund as background documentation for the periodic consultation with Germany. The report includes: strategies for turning Germany's labour market around; declining labour shares, wage moderation and employment performance; prospects for the "New Economy" in Germany; tax reform; revamping Germany's pension system. Tables give economic and financial statistics.

Germany

Germany PDF
Author:
Publisher:
ISBN:
Size: 48.12 MB
Format: PDF, Docs
Category :
Languages : en
Pages : 169
View: 2768

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Germany

Germany PDF
Author:
Publisher:
ISBN:
Size: 66.46 MB
Format: PDF
Category :
Languages : en
Pages :
View: 3525

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Germany

Germany PDF
Author: Fondo Monetario Internacional
Publisher:
ISBN:
Size: 54.70 MB
Format: PDF, Mobi
Category :
Languages : en
Pages : 113
View: 1615

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Germany

Germany PDF
Author: Harilaos Vittas
Publisher:
ISBN: 9780119842906
Size: 27.21 MB
Format: PDF, ePub, Mobi
Category : Germany
Languages : en
Pages : 66
View: 2272

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Germany

Germany PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451810393
Size: 44.10 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 94
View: 995

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This Selected Background Issues paper examines the process of international financial integration in Germany, focusing on both banking and securities markets. The examination is useful both because of the size and importance of Germany’s economy and because of the structure of its financial markets, which rely on bank-based finance as opposed to securities-based finance to a greater extent than most other major industrial countries. The paper examines the data demonstrating the increased internationalization of German financial markets. It also considers measures taken by authorities to facilitate the internationalization process.

France

France PDF
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484320336
Size: 15.93 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 55
View: 4958

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This paper focuses on the corporate income tax (CIT) regime that features a high statutory rate but low revenue productivity, as well as a bias toward debt financing, ineffective size-dependent regimes, and inefficient tax incentives. Profit-insensitive taxes are comparatively high. Anti-tax-avoidance rules are strong, but risks to outbound profit shifting remain. Tax uncertainty is another concern. At the individual level, the system of taxing wealth and capital income is complex, with distortions from differential taxation across savings instruments. To address some of these issues and make the tax system more supportive of growth and job creation, the government plans to reduce the CIT rate, further cut the labor tax wedge, unify taxes on capital income, and narrow the wealth tax. Staff’s analysis suggests that complementing these reforms with measures to remove inefficient tax incentives, further reduce the debt bias, address disincentives to company growth, and streamline the taxation of long-term savings could enhance their impact on competitiveness, revenues, and growth.

Republic Of Poland

Republic of Poland PDF
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1475506546
Size: 69.40 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 38
View: 2263

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This Selected Issues Paper focuses on the economic and financial ties between Poland and the euro area and analyzes the associated spillovers. It documents stylized facts about trade, vertical integration, foreign direct investment, and banking system linkages between Poland and core euro area countries. The impact of shocks originating from the euro area on economic developments in Poland is quantified using two methods, namely a vector auto-regression model and a small-open-economy quarterly projection model.

People S Republic Of China

People   s Republic of China PDF
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1513511289
Size: 36.97 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 60
View: 7492

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Selected Issues

Kingdom Of The Netherlands Netherlands

Kingdom of the Netherlands Netherlands PDF
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1475591500
Size: 64.78 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 30
View: 1287

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This Selected Issues paper focuses on a steady increase in current account surpluses in ”Surplus 3” countries—Germany, the Netherlands, and Switzerland—since the mid-1990s. In Germany and the Netherlands, nonfinancial corporations seem to be behind the rising surpluses. In these countries, increasing corporate profits have not been converted into dividends, keeping a lid on consumption. In Switzerland, household savings seem to explain the bulk of the current account surplus: both mandatory and voluntary savings have been on an increasing trend since 2000. Trending net contributions to pension funds since 2000 and rising equity contribution for housing purchases are likely drivers.