As the global financial crisis has expanded, there is considerable confusion in Germany about how to cope with the crisis and fall-out in the real economy, writes Prof. Dr. Paul J.J. Welfens, president of the European Institute of International Economic Relations (EIIW) and a former AICGS Fellow. Dr. Welfens proposes five specific ‘institutional innovations’ that would help in ending the chaos and inefficiencies in the banking systems, and argues for the introduction of a new tax regime designed to encourage bankers to have a long term time horizon in decision-making.

When the Federal Republic of Germany was founded in May 1949, a major cornerstone of its cooperative and stable system of labor relations was already in place. Over a month earlier, the Collective Agreements Act had come into effect, and
to this day, virtually unchanged, it has been the foundation upon which trade unions and employers’ associations have autonomously set the standards for wages and working conditions in contracts negotiated at the sectoral level (Flächentarifvertrag)…

The Federal Republic of Germany turns sixty in 2009—and she has had a breathtaking life so far. Born out of the devastations of World War II, she worked hard to overcome the physical and psychological damages. She had a flourishing youth when she was around twenty, known in the history books as the “Wirtschaftswunder.”…

Former AICGS Fellow and Chief Economist at Deutsche Bank Research Professor Dr. Norbert Walter looks at the role reunification played in the shaping of the Federal Republic’s role within the European community, from the initial fall of the Iron Curtain to the introduction of the Euro. This essay is part of an AICGS project on “60 Years Federal Republic of Germany: Rebuilt, Reunified, Revitalized?”

Political communication and mobilization were altered drastically in the 2008 U.S. election with the increased use of web-based organization. As the 2009 federal elections gear up in Germany, will the parties embrace the lessons learned in the U.S. campaign? DAAD/AICGS Fellow Prof. Dr. Dr. Karl-Rudolf Korte examines the new tools of campaigning and discusses their application to the upcoming German election in his essay, “Digitale Gemeindezentren.”

The global credit crunch has caused some to wonder whether or not the U.S. will be able to fulfill its account obligations to the rest of the world. However, the U.S. continues to have positive investment income. DAAD/AICGS Fellow Ute Volz discusses how this is possible and looks at the international investment positions (IIP) of the U.S. and Germany, focusing on the apparent ability of the United States to generate income out of a debtor position and why Germany is currently unable to do better with its IIP strategies.

For much of the past two decades, the literature on the German economy has largely focused on the erosion of the German form of organized capitalism and emphasized institutional decline and the corresponding rise of neo-liberalism. Yet, in the
past few months, the world-wide financial crisis has challenged the virtues of the apparent neo-liberal hegemony and perhaps opened up once again a debate regarding appropriate economic policy models…

The close relationship between the U.S. and Germany has undergone a dramatic change, beginning with the 9/11 terrorist attacks, the resulting U.S.-led “war on terror,” and the Iraq War. In particular, the Iraq War and different counter-terrorism policies have led to a diplomatic crisis in the transatlantic relationship; it was a new phenomenon for Americans and Germans to disagree on fundamental policy issues…

AICGS recently completed a project to address the climate and energy challenges with the generous support of the Daimler-Fonds im Stifterverband für die Deutsche Wissenschaft, resulting in this Issue Brief and the following three Policy Reports which focus on some of the many aspects of the climate and energy puzzle.
In AICGS Issue Brief 29, Tim Stuchtey and Kirsten Verclas analyze the policy recommendations that come from the three Policy Reports and look at the political implications of these recommendations, focusing on emission trading, biofuels, and current climate-friendly technologies.

Financial institutions in Europe and the U.S. are currently facing one of the most difficult periods in decades. In Issue Brief 28, Deutsche Bank/AICGS Fellow Jan Schildbach examines the fundamentals of banking markets on both sides of the Atlantic, looking at the role of globalization in determining success and failure as well as possible future trends in an era of increasing regulation.

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