What do the recent trends in German economic development convey about the trajectory of change? Has liberalization prepared the German economy to deal with new challenges? What effects will liberalization have on the co-ordinating capacities of economic institutions? This article argues that...

The paper develops an analytical framework for the politics of negotiated voluntary wage restraint in the context of social pacts. It argues that, in contrast to earlier political exchanges, tripartite negotiations on wage restraint under restrictive economic policies are not based on a...