After impressive growth rates had been achieved in the 1950s
the stabilisation of this process played a major role in the financial
policy of the 1960s, especially during the recession of 1966/7.
Stabilisation policy did not start then, however, because even in
the 1950s the Federal government and the Laender had
occasionally used the policy tool of an anticyclical fiscal policy in
the construction sector. 22 In the late 1960s Schiller’s
Globalsteuerung ran into problems, partly because of insufficient
coordination between Federal government, regional and local
authorities.