How Germany's Labor Market Reforms Crushed the French and the PIIGS
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How Germany's Labor Market Reforms Crushed the French and the PIIGS
- 1. How Germany's Labor Market Reforms Crushed the French and the PIIGS Stephanie Kelton, Associate Professor of Economics University of Missouri – Kansas City Avraham Baranes, Ph.D. Student, Dept. of Economics University of Missouri – Kansas City
- 2. Current Account 1997 4.0% 3.0% 2.0% 1.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% -7.0%
- 3. Current Account 1998 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -2.0% -4.0% -6.0% -8.0%
- 4. Current Account 1999 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France -2.0% Percent of GDP -4.0% -6.0% -8.0% -10.0%
- 5. Current Account 2000 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France -2.0% Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0%
- 6. Current Account 2001 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France -2.0% Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0%
- 7. Current Account 2002 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France -2.0% Percent of GDP -4.0% -6.0% -8.0% -10.0%
- 8. Current Account 2003 3.0% 2.0% 1.0% 0.0% Portugal Italy Ireland Greece Spain Germany France -1.0% Percent of GDP -2.0% -3.0% -4.0% -5.0% -6.0% -7.0%
- 9. Current Account 2004 6.0% 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0%
- 10. Current Account 2005 6.0% 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% -12.0%
- 11. Current Account 2006 8.0% 6.0% 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0%
- 12. Current Account 2007 10.0% 5.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -5.0% -10.0% -15.0% -20.0%
- 13. Current Account 2008 10.0% 5.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -5.0% -10.0% -15.0% -20.0%
- 14. Current Account 2009 6.0% 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France -2.0% Percent of GDP -4.0% -6.0% -8.0% -10.0% -12.0% -14.0%
- 15. Current Account 2010 8.0% 6.0% 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% -12.0%
- 16. Current Account 2011 8.0% 6.0% 4.0% 2.0% 0.0% Portugal Italy Ireland Greece Spain Germany France Percent of GDP -2.0% -4.0% -6.0% -8.0% -10.0% -12.0%