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Begin New Search Topic Regional Cooperation Political Geography Germany Content Type Working Paper Publishing Institution Max Planck Institute for the Study of Societies Publication Year within 10 Years

1. The German Undervaluation Regime under Bretton Woods How Germany Became the Nightmare of the World Economy

Author:
Martin Höpner
Publication Date:
02-2019
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Germany is an undervaluation regime, a regime that steers economic behavior towards deterioration of the real exchange rate and thereby towards export surpluses. This regime has brought the eurozone to the brink of collapse. But it is much older than the euro. It was established during the Bretton Woods years and has survived all subsequent European currency orders. The regime operates in two steps: competitive disinflation against trading partners; and resistance against correcting revaluations. The Bretton Woods order provid- ed perfect conditions for the establishment and perpetuation of the regime: it was flexible enough for sufficient macroeconomic policy autonomy to bring about differential inflation rates, and sticky enough to delay and minimize revaluations.
Topic:
Political Economy, Regional Cooperation, Capitalism, and Inflation
Political Geography:
Europe, Germany, and Central Europe

2. Changing Perspectives in Political Economy

Author:
Renate Mayntz
Publication Date:
07-2019
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
The history of a research field called political economy dates back to the eighteenth century, giving rise to a variety of disciplinary approaches, and experienced a renaissance as a mul- tidisciplinary field after the Second World War, combining economic, political science, and sociological approaches. The divergence between economic globalization and the nation- ally restricted scope of economic policy directs interest to the relationship between politics and the economy. A quantitative analysis of the articles published in two dedicated political economy journals shows major trends of the developing research field. The relationship between politics and economy is interpreted rather widely, and research is largely focused on Western capitalist nations. In conclusion, two avenues for further research in the field are briefly discussed.
Topic:
Political Economy, Regional Cooperation, Capitalism, and Global Political Economy
Political Geography:
Europe, Germany, Central Europe, and Western Europe