Same Economic Nightmares, Different Solutions: Transatlantic Approaches to International Macroeconomic Policymaking in the Face of the Crisis
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 authors address …
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 …
Executive Summary: The End of the Years of Plenty? American and German Responses to the Economic Crisis
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.
European leaders finally agreed to a more comprehensive plan to help bring the euro out of its current crisis. However, many experts agree that there is still much more that needs to be done to bring Europe, and the global economy as a whole, out of this mess. This week’s AICGS Advisor examines a few of the expert opinions on what still lies ahead:
Peter S. Rashish, Vice President for Europe & Eurasia, U.S Chamber of Commerce, gives his testimony before the House Financial Services subcommittee on International Monetary Policy and Trade on the U.S. implications of the euro zone crisis and what should be done to bolster trade between the two partners.
Taming the Financial Beast: A Status Report of Financial Regulatory Reform in the U.S. and European Union
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 …
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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.
In this Transatlantic Perspectives essay, DAAD/AICGS Fellow Katharina Gnath discusses the G20’s compromise on a large-scale reform of the IMF, including the deal that transfers two of the eight European Executive Board seats to emerging market countries. Over the coming months, Europe will have to make some tough choices on the implementation of the deal, Ms. Gnath writes, and she argues that European member states should use this opportunity to improve the EU’s international macroeconomic policy and relations with the IMF.
Globalization has facilitated the spread of investments and manufacturing by transnational corporations (TNCs), opening new opportunities, but also posing new challenges to their business models and highlighting the need for a restructuring of employment and production, writes DAAD/AICGS Fellow Dr. Michael Fichter. Dr. Fichter focuses on the role of labor relations in the operations and policies of German TNCs in the United States and examines if there is any convergence of labor relations policies across the Atlantic.
While environmental concerns have recently taken a backseat to the economic and financial crisis, scientific projections on climate change continue to call for action. Yet, international cooperation has been hampered …
DAAD/AICGS Fellow Dr. Stormy-Annika Mildner examines the differing German and U.S. proposals for an IMF-regulated ‘Financial Crisis Responsibility Fee’ and argues that their implementation is anything but certain. Dr. Mildner writes that the proposals differ with regard to the institutions subjected to the fee, the determinants of the fee (risk, income, and bonuses), the goals of the levy, as well as the appropriate use of the fee revenues, but states that strong transatlantic cooperation in the early stages can result in a more coordinated and effective implementation.
After World War II, both East and West Germany were focused on reconstruction and promoting economic development, and very little attention was given to environmental protection in the quest to rebuild. In this Transatlantic Perspectives essay, Professor Miranda Schreurs, Director of the Environmental Policy Research Centre and a regular participant in AICGS programs, examines how Germany transitioned from an environmental mess to become a global environmental leader, focusing on a transition of values as well as the role of unification in this process.
The transport sector accounts for one-fourth of the carbon dioxide (CO2) emissions in the European Union and almost one-third in the United States, and both sides of the Atlantic have tackled this issue with regulatory standards. In his Transatlantic Perspectives essay, DAAD/AICGS Fellow Carl-Friedrich Elmer examines the general economic rationale for mandatory vehicle emission standards as well as crucial factors that determine the environmental efficacy and economic efficiency of this regulatory approach, also looking at how such standards can be embedded in the broader context of climate policy.