Alternative Theories of Output, Unemployment, and Inflation in Germany: 1960–1985

I Introduction.- II The German Economy: 1960–1985.- 1. Institutional Arrangements.- 2. Twenty-Five Years of Economic Policy Making.- 3. The Performance of the German Economy: 1960–1985.- III Survey and Critique of the Literature: Empirical Studies of the German Macroeconomy.- 1. Introduction.- 2. Impulse-Theoretic Models.- 3. Monetarist, Keynesian, and Rational Expectations Models.- 4. Structural Models of Other Open Economies.- 5. Phillips Curve Studies.- 6. Causality Studies.- 7. A Critical Evaluation of Previous Studies of Germany.- IV Fixed Versus Flexible Exchange Rates in the Open Economy: Theory and Reality.- 1. Introduction.- 2. Open Economy Macroeconomics: A Synthesis View.- 2.1. The Theoretical Framework.- 2.2. The Fixed Exchange Rate Case.- 2.3. The Flexible Exchange Rate Case.- 2.4. Summary and Critique of the Synthesis View.- 3. Open Economy Macroeconomics and Reality.- 3.1. Theoretical Considerations.- 3.2. Methodological Considerations.- 3.3. Empirical Realities.- 3.4. Open Economy Macroeconomics and Reality: Where do We Stand?.- V Monetarist, Keynesian, and New Classical Theories of Output, Unemployment, and Inflation in Germany: 1960–1985.- 1. Introduction.- 2. The General Theoretical Framework.- 2.1. The Structural Equations of the General Model.- 2.2. The Relationship of Output and Unemployment.- 3. Alternative Views of Unemployment, Output, and Inflation.- 3.1. The Monetarist Specification.- 3.2. The New Classical Specification.- 3.3. The Keynesian Specification.- 4. Empirical Evidence.- 4.1. The Unanticipated Money Growth Series.- 4.2. Technical Notes.- 4.3. The Unemployment Equation: Monetarist versus New Classical Theories.- 4.4. The Output Equation: Monetarist versus New Classical Theories.- 4.5. The Inflation Equation: Monetarist versus Keynesian Theories.- 5. A “Correct” Model of the German Economy? Conclusions and Outlook.- Table Appendix to Chapter V.- Data Sources.