Competitiveness in the European Economy

The first part of this book analyses macroeconomic imbalances based on a new framework from the analysis of the flow of founds rather than balance of payments, and presents an alternative measure of unit labour cost comparisons to investigate the relationship between imbalances and competitiveness. The second part is dedicated to the analysis of the trade performance of Germany and Italy and the sustainability of the German model in the EMU. The third part describes the reform policies implemented by Germany and their effect on imbalances; this includes wage moderation, the labour market reforms and weak labour demand. The final part explores the regional inequalities within Germany and Italy, providing useful lessons regarding fiscal federalism and regional banking developments.

Contents:
+ Part 1 Introduction and overview
+ 1. Competitiveness: an overview (Stefan Collignon and Piero Esposito)
+ Part 2: Measuring competitiveness
+ 2. Unit labour costs and their economic impact on stability in the Euro Area (Stefan Collignon)
+ 3. How promising is wage restraint for a large economy? The example of Germany before and during the current crises (Torsten Niechoj)
+ Part 3: Structural transformations
+ 4. Hartz IV and the consequences: have labour market reforms destroyed the German model?(Joachim Möller)
+ 5. Italy’s industrial tissue and the issue of total factor productivity (Stefano Fantacone and Christian Mongeau Ospina)
+ 6. Structural transformations in Italy and Germany: a discussion (Enrico Saltari)
+ Part 4: Europeanization or globalization?
+ 7. The German Model as a blueprint for Europe? (Sebastian Dullien)
+ 8. Is Germany’s model of export-led growth sustainable? (Ulrich Fritsche)
+ 9. Are Italy’s and Germany’s economic strategies competitive or complementary? (Paolo Guerrieri and Piero Esposito)
+ Part 5: Regions and federalism
+ 10. Mezzogiorno and Neue Bundesländer: what lessons can Germany learn from Italy? (Francesca Bartoli , Zeno Rotondi and Denni Tommasi)
+ 11. East Germany on the path from transition to European integration: results, shortcomings, future challenges(Gerhard Heimpold and Mirko Titze)
+ 12. Fiscal federalism: what lessons can Italy learn from Germany?(Kristina van Deuverden)