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The euro, interest rates and European economic growth

Author

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  • Hans-Werner Sinn
  • Robert Koll

Abstract

In the euro region, long-term interest rates have converged considerably since mid-1995. Most of the eleven euro countries are currently enjoying unusually low interest rates since the risk premiums that they previously had to pay international capital investors have disappeared because of the elimination of the exchange rate risk. This convergence will give the European economy a considerable boost to growth since available savings capital will no longer be prevented by uncertain exchange rates from flowing towards the most profitable utilisation.

Suggested Citation

  • Hans-Werner Sinn & Robert Koll, 2000. "The euro, interest rates and European economic growth," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(33), pages 46-47, December.
    • Handle: RePEc:ces:ifosdt:v:53:y:2000:i:33:p:46-47
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    File URL: https://www.ifo.de/DocDL/ifosd_2000_33_8.pdf
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    Citations

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    Cited by:

    1. Hans-Werner Sinn, 2014. "Austerity, Growth and Inflation: Remarks on the Eurozone's Unresolved Competitiveness Problem," The World Economy, Wiley Blackwell, vol. 37(1), pages 1-13, January.
    2. Hans-Werner Sinn & Teresa Buchen & Timo Wollmershäuser, 2011. "Trade Imbalances – Causes, Consequences and Policy Measures: Ifo’s Statement for the Camdessus Commission," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(1), pages 47-58, March.
    3. Giuseppe Bertola & John Driffill & Harold James & Hans-Werner Sinn & Jan-Egbert Sturm & Ákos Valentinyi, 2013. "Chapter 2: European Imbalances," EEAG Report on the European Economy, CESifo, vol. 0, pages 55-72, February.
    4. Lars Calmfors & Giancarlo Corsetti & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Ákos Valentinyi & Xavier Vives, 2012. "Chapter 2: The European Balance-of-Payments Problem," EEAG Report on the European Economy, CESifo, vol. 0, pages 57-82, February.
    5. Oliver Landmann, 2011. "On the Macroeconomics of European Divergence," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(2), pages 19-25, July.
    6. John Fitz Gerald, 2006. "Lessons from 20 Years of Cohesion," Chapters, in: Susanne Mundschenk & Michael H. Stierle & Ulrike Stierle-von Schütz & Iulia Traistaru-Siedschlag (ed.), Competitiveness and Growth in Europe, chapter 4, Edward Elgar Publishing.
    7. Hans-Werner Sinn, 2013. "Target Losses If The Euro Breaks Up – A Response to De Grauwe and Ji," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 66(01), pages 14-24, January.
    8. Thomas Strobel, 2015. "Weak Investment and the Tertiarisation of Germany’s Economic Structure," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(01), pages 43-49, January.

    More about this item

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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