German Unification: Economic Issues Occasional Paper
International Monetary Fund, Dec 4, 1990 - Business & Economics - 171 pages
This paper analyzes economic issues associated with German unification. The paper highlights that in the course of the process of German unification, the German Democratic Republic (GDR) ceased to exist as a separate state, the basic institutions of the east German economy were essentially demolished and replaced, and the governments of the Federal Republic of Germany (FRG) and the GDR were forced to make myriad unprecedented decisions on the structure of the economy that would influence economic policies for a long time and give rise to many new and difficult challenges.
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adjustment assets assumed average balance banking system baseline budget capital stock changes Chapter Chart consumption conversion rate countries currency debt decline deficit demand Deutsche Bundesbank deutsche mark developments domestic east Germany eastern economic effects of GEMSU enterprises equation estimated ethnic Germans exchange rate expenditure exports external factor Federal Republic fiscal policy foreign German Democratic Republic German Unification higher immigration income increase indirect taxes inflation initial International Monetary Fund investment labor force labor market labor share liabilities lower migration monetary policy multifactor productivity natural rate offset payments pension percent of GNP percentage points Phillips curve potential output rate of unemployment real wages reduced reference scenario reflected reform relative Republic of Germany result revenue rise second half sector simulations social security structural subsidies Table target territorial authorities Treaty Trust Fund U.S. dollar unemployment rate Unity Fund western Germany
Page xiii - The opinions expressed are those of the authors and should not be construed as representing the opinions or policy of any agency of the United States Government or of the University of California.