Economic Policy

The global economy has still not overcome effects of the financial and economic crises in 2008 and 2009. Despite improvements in the American and European financial markets in 2010, the fiscal crisis in Greece and the rising U.S. deficit have caused a decline of trust in the capital markets and have overshadowed any growth in the real economy. Overcoming the recession and returning to a sustainable growth pattern is of paramount importance for the wealth and security of all nations and has an impact on almost all other policy areas. A cornerstone of the important transatlantic business partnership, German and American economic policies go beyond domestic issues and influence global markets, businesses, and governments.

White, Grey, and Black (Euro) Swans: Dealing with Transatlantic Financial Risk in 2012

Matthias Matthijs

The idea that the euro crisis is over is hopeful at best, naïve at worst. It is far from over. We are actually at the beginning of a dangerous new phase of political uncertainty across the eurozone that could massively impact its financial markets. On the other side of the Atlantic, continuing… Read more >

Invisible Redistribution to Weaker Economies? The Case for EU Automatic Stabilizers

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dheisenberg

The Greek financial crisis seems finally to have been overcome, thanks to emergency European Union (EU) and International Monetary Fund (IMF) lending to the Greek government.  Bondholders will have been punished, too, losing 75 percent of their capital in the transaction, and Greece itself will continue to be yoked to austerity budgets… Read more >

Same Economic Nightmares, Different Solutions: Transatlantic Approaches to International Macroeconomic Policymaking in the Face of the Crisis

gnath

Policy Report 48 argues that, in a climate of economic crisis and distress, transatlantic cooperation is still essential and must be expanded, despite current differences in policy.

The End of the Years of Plenty? American and German Responses to the Economic Crisis

kirkegaard

Policy Report 49 analyzes the policy responses of Germany and the United States to the continued economic and financial unrest. The authors examine the origins of Germany’s economic policy and order as well as the current role Germany is playing in the European economy. They also analyze implications for European integration, security issues, and the transatlantic partnership.They argue that because the Great Recession had different economic effects in Germany and the U.S., policymakers’ responses differed as well. But, once the economic circumstances converge, economic policy in Germany and the U.S. will also become similar again.

Executive Summary: The End of the Years of Plenty? American and German Responses to the Economic Crisis

Issues:   |   Programs:

German and American responses to the economic crisis have varied since 2008. The Executive Summary to analysis by Tim Stuchtey, S. Chase Gummer, and Jacob Funk Kirkegaard highlights the main reasons for their differences and the outcomes of the two countries’ policies.

Lots of Talk, Little Action? Chances and Impediments for a New EU-U.S. Trade Agenda

mildner

The annual meeting of the Transatlantic Economic Council (TEC) in November 2011 presented an opportunity for German and American policymakers  to make progress on their efforts at greater trade integration.  This Issue Brief gives an overview of the EU and the U.S.’ trade agendas and looks at how greater transatlantic cooperation can… Read more >

Transatlantic Relations in an Age of Fiscal Austerity

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medearis-amy

Prior to the economic and financial crisis that began in 2008, the fiscal challenges of both
Europe and the U.S. largely were viewed as longer-term issues, associated with gradually
rising public expenditures in the face of aging populations (the main issue for Europe) and
soaring health care costs … As a consequence, the focus on both sides of the Atlantic has shifted toward fiscal consolidation—both in the near term as well as the longer term.

Taming the Financial Beast

mildner

In the wake of the global financial crisis, the United States and the European Union have acted not only to recover from the crisis, but also to implement regulatory reforms to prevent another crisis of this magnitude in the future. The path to reform, however, has not been smooth. Political debates over fundamental issues have slowed progress toward making meaningful reform in regulating the financial sector.

Global Economic Imbalances and International Security: Perils and Prospects

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tim_stuchtey

Despite improvements in the American and European financial markets in 2010, the fiscal crisis in Greece and the continually rising U.S. deficit have caused a decline of trust in the capital markets and have overshadowed any growth in the real economy. Overcoming the recession and returning to a sustainable growth pattern, however, is of paramount importance for the wealth and security of all nations, write AICGS Business & Economics Program Director Dr. Tim Stuchtey and S. Chase Gummer. In Issue Brief #39, Stuchtey and Gummer examine existing global economic imbalances and the impact these imbalances have on international security.

Untapped Potential: The Future of the Transatlantic Economic Council

mildner

As the Transatlantic Economic Council (TEC) prepares for its next meeting on 17 December 2010, it is time to inject new life into the institution, write AICGS Non-Resident Senior Fellow Dr. Stormy-Annika Mildner and Deborah Klein. In this new Transatlantic Perspectives essay written just in advance of the TEC’s meeting, the authors provide an overview of the current state of the transatlantic economic partnership, highlight the areas where trade is still impeded by barriers, and offer policy recommendations for maximizing the Council’s potential benefits.

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