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Koordinierung der Geld- und Fiskalpolitik in der EWU

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  • Jürgen von Hagen
  • Susanne Mundschenk

Abstract

Mit dem Beginn der dritten Stufe der Europäischen Wirtschafts- und Währungsunion haben sich die Bedingungen für die Wirtschaftspolitik in den Teilnehmerstaaten grundlegend verändert. Die EWU schafft ein neues Umfeld für die Wirtschaftspolitik, indem sie Interdependenzen der nationalen Wirtschaftpolitiken der Mitgliedsländer intensiviert bzw. auf der Ebene der Währungsunion neue Interdependenzen schafft. In diesem Papier analysieren wir die Interaktion einer einheitlichen Geldpolitik und nationaler Fiskalpolitiken. In der kurzen Frist, wenn eine nominale Veränderung der Nachfrage reale Outputwirkung zeigt, interagieren Geld- und Fiskalpolitik bei der Bestimmung der aggregierten Nachfrage in der Währungsunion. Damit entsteht ein Konfliktpotential zwischen gemeinsamer Geldpolitik und nationalen Fiskalpolitiken. Wir analysieren dieses Problem und leiten daraus einige Prinzipien für die Koordination der Wirtschaftspolitik in der Währungsunion ab.

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File URL: http://ejournals.duncker-humblot.de/doi/pdf/10.3790/vjh.71.3.325
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Bibliographic Info

Article provided by DIW Berlin, German Institute for Economic Research in its journal Vierteljahrshefte zur Wirtschaftsforschung.

Volume (Year): 71 (2002)
Issue (Month): 3 ()
Pages: 325-338

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Handle: RePEc:diw:diwvjh:71-30-4

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  1. von Hagen, Jürgen & Mundschenk, Susanne, 2001. "The functioning of economic policy coordination," ZEI Working Papers B 08-2001, ZEI - Center for European Integration Studies, University of Bonn.
  2. Beetsma, Roel & Bovenberg, A Lans, 1995. "Designing Fiscal and Monetary Institutions for a European Monetary Union," CEPR Discussion Papers 1303, C.E.P.R. Discussion Papers.
  3. Dixit, Avinash & Lambertini, Luisa, 2003. "Symbiosis of monetary and fiscal policies in a monetary union," Journal of International Economics, Elsevier, vol. 60(2), pages 235-247, August.
  4. Dixit, Avinash & Lambertini, Luisa, 2001. "Monetary-fiscal policy interactions and commitment versus discretion in a monetary union," European Economic Review, Elsevier, vol. 45(4-6), pages 977-987, May.
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