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Deutsche Geldpolitik: sind Geldmengenziele obsolet?

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  • Reinhard Pohl

Abstract

ln den beiden vergangenen Jahren hat die Geldmenge M3 sehr viel stärker zugenommen, als es den Zielvorstellungen der Deutschen Bundesbank entsprach. Es ist abzusehen, daß die Geldmenge auch 1994 oberhalb des - durch laufende Raten von 4 und 6 vH definierten - Zielkorridors bleiben wird. Trotzdem hat der Zentralbankrat der Deutschen Bundesbank am 21. Juli beschlossen, an diesem Ziel festzuhalten. Er hat damit keinen Zweifel daran gelassen, daß die Bundesbank das seit fast zwei Jahrzehnten von ihr vertretene Konzept einer potentialorientierten Geldmengenpolitik nicht aufgeben wird.

Suggested Citation

  • Reinhard Pohl, 1994. "Deutsche Geldpolitik: sind Geldmengenziele obsolet?," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 61(34), pages 593-599.
    • Handle: RePEc:diw:diwwob:61-340-
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