Annual Report

The German Council of Economic Experts submitts its report in mid-November of each year. Here you will find the current Report.

Annual Report 2018/18

"Setting the Right Course for Economic Policy"
Released on 07 November 2018

Executive summary of the Annual Report 2018/19

Chapter 1: Setting the Right Course for Economic policy

Chapter 5: Advancing Banking and Capital Markets Union more decisively

In this section you will find selected chapters of the reports in english.

 

Annual Report 2017/18

"Towards a Forward-Looking Economic Policy"
Released on 08 November 2017

Executive summary of the Annual Report 2017/18
Chapter 1: Towards a forward-looking economic policy
Chapter 2: Global economy picks up speed
Chapter 3: Capacity overutilisation in the German economy continues to rise
Chapter 4: Change of course in monetary policy and sustainable economic policy
Chapter 5: Financial markets: Gaps in regulation, growing risks
Chapter 6: Sound fiscal policy, especially in good times
Chapter 7: Guarding against protectionism, supporting structural change
Chapter 8: Labour market: securing the supply of skilled workers in the digital transformation
Chapter 9: Income inequality: an in-depth analysis

Annual Report 2016/17

"Time for Reforms"
Released on 02 November 2016
Executive summary of the Annual Report 2016/17
Chapter 1: Economic policy: Time for Reforms
Chapter 2: Global economy: Risk of overburdening monetary policy
Chapter 3: Germany: Expansionary monetary policy drives growth above potential
Chapter 4: Brexit vote: Averting damage, strengthening Europe through subsidiarity
Chapter 5: Low interest rates not appropriate for either euro area or Germany
Chapter 6: European banking system unstable, reforms must continue
Chapter 7: Pension provision: Strengthen the three pillar model
Chapter 8: Influx of refugees: Integration as a key challenge
Chapter 9: No surrender to entrenched unemployment
Chapter 10: High redistribution, low mobility
Chapter 11: The energy transition (Energiewende): Shifting towards a global climate policy
Chapter 12: Transformation in China harbours risks

Annual Report 2015/16

"Focus on Future Viability"
Complete version in German
Executive summary
Chapter one: Economic Policy: Focus on Future Viability
Chapter four: Euro Area: Slow Down Bond Purchases, Speed up Reforms
Chapter five: Risks From low Interest Rates - Opportunities From the Capital Markets Union
Chapter six: New Challenges for Labour Market and Social Policy
Chapter seven: Productivity: Adressing the Causes

Annual Report 2014/15

"More confidence in market processes"
Complete version in German
Chapter five: The long road to more financial stability in Germany and Europe
Chapter six: The German current account — Actionism is inappropiate

Annual Report 2013/14

"Against a backward-looking economic policy"
Executive summary
Chapter three: Excerpt from the Third Chapter

Annual Report 2012/13

"Stable Architecture for Europe – Need for Action in Germany"
Executive summary
Chapter two: European economic policy: Stable architecture for Europe
Chapter three: Financial markets in Europe: From the Single Market to a Banking Union
Chapter five: Energy Policy: Boldly introduce more of a market - At a glance

Annual Report 2011/12

"Assume responsibility for Europe"
Executive summary
Chapter three: Euro area in crisis
Chapter four: From banking crisis to debt crisis and back
Chapter six: Energy policy: Effective Energy Transition only in the European Context
 

Annual Report 2010/11

"Chances for a stable upturn"
Chapter one

Annual Report 2009/10

"Securing the future through responsible economic policies"
Chapter one

Annual Report 2008/09

"Mastering the financial crisis - strengthening forces for grow"
Chapter one

Annual Report 2007/08

"The gains must not be squandered"
Chapter one

Annual Report 2006/07

"Conflicting interests - missed opportunities"
Chapter one

Annual Report 2005/06

"Seize the chance - boldly advance the reforms"
Chapter one

Annual Report 2004/05

"External successes - internal challenges"
Chapter one

Annual Report 2003/04

"Consolidate public finances - reform the tax system"
Chapter one


Complete Reports are only published in German.