Jan Behringer News Today

Why can't we have nice things like leisure time?

Jan Behringer The German economy has been running persistently high current-account surpluses for more than 15 years. Over the last decade, the surplus was between 6 and 9 per cent of gross domestic product, mainly because Germany exported much more than it imported. This is a drag on other countries’ exports and employment and can also lead to financial imbalances. A large majority of economists outside Germany thus see the surpluses as a serious threat to macroeconomic stability. The Europe...