Picture: iStock

Growth and Business Cycle

Picture: iStock

A flourishing economy raises living standards, creates jobs and fills the public coffers with the funds necessary for such tasks as education, environmental protection and social security.

Over the past 60 years the Federal Republic’s social market economy has enabled its citizens to quintuple their average income. Although the long-term growth in prosperity has been considerable, there have been repeated economic setbacks to be overcome, as economies tend to develop not evenly but in waves. An economic boom with high growth rates and rising employment is followed by a downturn with low growth rates and fewer people in work. The IW uses a variety of instruments to keep a close eye on these cycles and publishes regular economic forecasts. In this way, the IW provides political and business leaders with a sound basis for their decision-making.

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Authors
Content Type
Michael Grömling

Prof. Dr. Michael Grömling

Head of the Research Group Macroeconomic Analysis and Forecast

Tel+49 221 4981-776

Mailgroemling@iwkoeln.de

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Galina Kolev

Prof. Dr. Galina Kolev

Senior Economist, Head of the Research Group Macroeconomic Analyses and Business Cycles

Tel+49 221 4981-774

Mailkolev@iwkoeln.de

@galina_kolev

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Jürgen Matthes

Jürgen Matthes

Head of the Research Unit International Economics and Economic Outlook

Tel+49 221 4981-754

Mailmatthes@iwkoeln.de

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