German Policy Studies

Periodical covering political issues in Germany.

Articles from Vol. 4, No. 3, Fall

"Please Better Shut Their Mouths": German Influence on U.S. Macroeconomic Policy under the Carter Administration
********** In the late 1970s, as the Democratic Carter administration confronted intensifying trade-offs between price stability and full employment--and so between dollar stability and growth--the U.S. abandoned the use of incomes policies and...
States, Markets, and Sovereign Wealth Funds
********** The rapid growth of sovereign wealth funds in the last few years has suddenly become an important topic in international policymaking circles. While these funds have a longer history, they have recently been growing very quickly. Of the...
The Politics of Global Finance Introduction
Recent upheavals in global financial markets which originated in the American subprime mortgage market once more brought home the unprecedented interconnectedness of international financial markets: among the first casualties were two German semi-public...
The Search for Autonomy: Governments, Central Banks, and the Formation of Monetary Preferences
********** a) State Preferences in International Monetary Diplomacy (1) Introduced only in 1948, the German mark (DM) quickly acquired a reputation of stability and trustworthiness in international currency markets. Due to the strength of its...
Three Facets of Liquidity Illusion: Financial Innovation and the Credit Crunch
Introduction In the summer of 2007, a contagious liquidity meltdown hit the world markets. Sparked by the sub-prime mortgage fiasco in the USA, financial panic and tumbling asset values did not only destabilise the American financial system, but...