The Global Economic Crisis and the German Economy Analytical Essay by mariamagdalenabg
Looks at the way that the global economic crisis has affected the German economy as reflected by current condition of the German construction industry and the company Strabag AG.
# 152126
| 2,790 words
| 15 sources
| APA
| 2010
| 
Published
on Jan 02, 2013
in
Business
(International)
, Economics
(National)
, European Studies
(European Union)
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Description:
This paper examines the impact of the global economic crisis on the German economy, after the collapse of the sub-prime mortgage market U.S.A., by analyzing the macroeconomic effects especially its impact on the gross domestic product (GDP), the exports, the private consumption and the employment. Next, the author assesses the microeconomic effects in the German construction sector and reports about the current condition of Strabag AG, one of the leading companies in the construction industry in the country. The paper also analyzes the common policy of the European Union and the particular measures taken by the German government in order to achieve economic growth in upcoming years. Several tables and figures are included.
Table of Contents:
Abstract
Table of Contents
Introduction: Description of the Economic Crisis
Macroeconomic Effects of the Crisis in Germany
Micro-economic Effects of the Crisis in Germany
German Government Policy towards the Crisis. Analysis of the Fiscal Policy
Conclusion
Table of Contents:
Abstract
Table of Contents
Introduction: Description of the Economic Crisis
Macroeconomic Effects of the Crisis in Germany
Micro-economic Effects of the Crisis in Germany
German Government Policy towards the Crisis. Analysis of the Fiscal Policy
Conclusion
From the Paper:
"The reports about 2009 are not optimistic either. The machinery industry continued its decline; the number of the official bankruptcies is rising as well. According to the Federal Statistical Office, German courts of bankruptcy reported more than 14, 000 new fillings in October 2009 (6,7 per cent more than the same month in 2008). The German economy technically got out of the recession in the second quarter of the year but the problems still exist."The crisis had a huge impact over the employment rates in Germany. The unemployment in July was 7,7 per cent (according to a standardized measure) - far below the 8,7 per cent level of 2007 and the general picture of 2009 for the OECD area (9,3 per cent). The usage of short-time work scheme cushioned the influence of the crisis on unemployment. More than 1,400,000 workers participated in the scheme. At this moment unemployment is about 500,000 people lower than it would have been without that scheme. However, in spite of the positive effect of the scheme, it is a possible obstacle to permanent recovery because it makes it harder for companies to expand and hire new workers. The hostility in the labour market will probably not only result in higher unemployment rates but it also can push the discouraged job-seekers into disability schemes."
Sample of Sources Used:
- Annual Press Conference of Bilfinger Berger AG. Speech by Herbert Bodner,Chairman of the Executive Board (2009)
- Banco de Portugal. Annual Report 2008 (2009)
- Economic Outlook of 2009. German Economy in Stormy Waters (2009) Deutsche Bank Research
- Economic Stimulus Plans against the Crisis (2009) IAB Forum Spezial
- Ghymers, G. (2009) The world crisis, the EU policy responses and the issue of exit strategies
Cite this Analytical Essay:
APA Format
The Global Economic Crisis and the German Economy (2013, January 02)
Retrieved April 01, 2023, from https://www.academon.com/analytical-essay/the-global-economic-crisis-and-the-german-economy-152126/
MLA Format
"The Global Economic Crisis and the German Economy" 02 January 2013.
Web. 01 April. 2023. <https://www.academon.com/analytical-essay/the-global-economic-crisis-and-the-german-economy-152126/>