The global economy is still working to overcome effects of the financial and economic crises in 2008 and 2009. Returning to sustainable growth 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 transatlantic business and trade, German and American economic cooperation goes beyond domestic issues and influences global markets, businesses, and governments.

The Global Financial Crisis of 2007-09 ended a two-decade period of steady economic growth and stable inflation in the world’s advanced markets, the so-called “Great Moderation.”[1] Since the mid-1980s, this long-term stabilization in macroeconomic indicators had provided the grounds for continuous cross-border integration across financial markets, trade relations, and societies, giving way to an unprecedented …Read More

Uncertainty Prevails Ten days after Donald Trump was elected president, the impact on the global and the European economy is still hard to predict. What prevails is uncertainty about Trump’s economic agenda once he enters the White House. What will “America First” mean in practice? To what degree will he be a protectionist, and will …Read More

The 2016 presidential contest in the United States has been characterized by a particularly heated debate about the role that trade policy should play in promoting US prosperity and national interests. From the start of the campaign with the 1 February Iowa caucuses and the 9 February New Hampshire primary, the impact of past and …Read More

Distinguishing between risk and uncertainty—two concepts dating back to economist Frank Knight (1921)—has become popular in financial policy analyses in the aftermath of the global financial crisis of 2007-09. Risk refers to all those possible futures whose probabilities can be estimated, put in numbers, the “known unknowns.” Uncertainty, on the other hand, refers to the …Read More

The eight participants of the Business & Economics Program group came together for their first virtual meeting on September 16, 2016. The discussion focused on the lessons of recent economic crises as well as future challenges for the American and European economies. Among the questions the group confronted were how we see the problems emerging …Read More

Fabian Wendenburg

Fabian Wendenburg is the Deputy Head of the Foreign Economic Policy Department at the Federation of German Industries (BDI) in Berlin. In this capacity, he works on trade policy and transatlantic economic relations. Previous to joining BDI, he worked as a Chief of Staff to the Senator for Economics in the City of Berlin, as …Read More

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Vincent Dreher is Research Associate at the Center for International Political Economy at the Otto Suhr Institute for Political Science of the Free University Berlin. He is currently pursuing a PhD on the subject of international financial market regulation after the crisis of 2007-09, with a focus on the newly created Financial Stability Board. Among …Read More

In a recent speech delivered at the World Affairs Council and American Council on Germany in San Francisco, Dr. Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, assessed the current market environment after Brexit, noting that while financial markets are not in panic, investments are looking for guidance in a period of …Read More

With Britain’s decision to leave the EU, the clouds of uncertainty hanging over the proposed US-EU free trade deal (known as the Transatlantic Trade and Investment Partnership or TTIP) have become darker. The negotiations were formally launched three years ago and have stalled because of transatlantic differences (for instance over issues of investor protections and …Read More

A weekly round-up of news and happenings in German-American relations. Business and Economics Moelis & Co. names Bank of America’s Stefan Mueller to head investment banking in Germany. (Bloomberg) After Brexit, the Dax recovery rally continues. (FAZ) The International Monetary Fund on Wednesday said that Britain’s pending exit from the European Union is posing “a …Read More

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