Suchergebnisse

Cover -- CONTENTS -- CONTEXT -- OUTLOOK AND RISKS -- POLICY DISCUSSIONS -- A. Addressing External Imbalances by Restoring Household Purchasing Power -- B. Fiscal Policy to Boost Potential Growth and Support Rebalancing -- C. Boosting Productivity Growth and Private Investment -- D. Shoring up Financial-Sector Profitability while Preventing Buildup of Financial Risks -- E. Tackling the Supply-Side of Corruption -- STAFF APPRAISAL -- BOXES -- 1. Corporate Saving, Top Income and Wealth Inequality, and External Imbalances -- 2. The Impact of Potential US Auto Tariffs on Germany -- FIGURES -- 1. Evolution of Unemployment and Stagnation of Lower Incomes -- 2. Bank Credit to the Nonfinancial Sector -- 3. Evolution and Distribution of Real Income -- 4. Fiscal Positions at Länder Level -- 5. Labor Productivity Growth -- 6. Supply-Side Constraints -- 7. Residential and Commercial Real Estate Indicators -- 8. German Banks' Risk Provisioning and Tier 1 Capital Ratio -- 9. Change in LTV for New Mortgage Loans -- 10. Growth Developments -- 11. Prices and Labor Market -- 12. Balance of Payments -- 13. Fiscal Developments and Outlook -- 14. Credit Conditions and Asset Prices -- 15. Recent Developments in the German Banking Sector -- 16. Housing Market Developments -- 17. Product Market Competition, Innovation, and Digitalization -- TABLES -- 1. Selected Economic Indicators, 2016-20 -- 2. General Government Operations, 2016-24 -- 3. Medium Term Projections, 2016-24 -- 4. Balance of Payments, 2016-24 -- 5. International Investment Position, 2010-18 -- 6. Core Financial Soundness Indicators for Banks, 2013-18 -- 7. Additional Financial Soundness Indicators, 2013-18 -- ANNEXES -- I. External Sector Assessment -- II. Risk Assessment Matrix -- III. Public Debt Sustainability Analysis -- IV. Authorities' Response to Past IMF Policy Recommendations.

In the face of rapid population ageing and the trend towards early retirement, there is a need to promote better employment opportunities for older people. Much has been said about the need for reform of old-age pensions and early retirement schemes but this may not be sufficient to raise employment rates for older people significantly or to reduce the future risk of labor shortages. Both governments and firms will need to take active measures to adapt wage setting to ageing workforces, to address the extent to which other welfare schemes act as pathways to early retirement, to tackle age discrimination and to improve the job skills and working conditions of older workers. In addition, older workers will need to change their own attitudes towards working longer and acquiring new skills. Little is known about what countries have been doing or should be doing in these areas. This report contains a survey of the main barriers to employment for older workers, an assessment of the adequacy and effectiveness of existing measures to overcome these barriers and a set of policy recommendations for further action by the public authorities and social partners.--Publisher summary

KEY ISSUESContext:? Germany fundamentals are sound: balance sheets are generally healthy,unemployment is at a historic low, and the fiscal position is strong.? While a recovery is underway, medium-term growth prospects are subdued and thecurrent account surplus remains high. The economy also faces a still weakinternational environment, lingering uncertainty (including about future energycosts), and fast approaching adverse demographic changes.? Germany could do more to increase its growth, thus strengthening its role as anengine of euro area recovery.Policy recommendations:? Germany has the fi

This review of Germany's environmental conditions and policies evaluates progress in reducing the pollution burden, improving natural resource management, integrating environmental and economic policies, and strengthening international co-operation. The analyses presented are supported by a broad range of economic and environmental data