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Regionale Konjunkturunterschiede kein Hinderungsgrund für Geldpolitik im Euroraum

Author

Listed:
  • Michael Artis
  • Christian Dreger
  • Konstantin A. Kholodilin

Abstract

Von Kritikern der Europäischen Währungsunion wird oft behauptet, die realwirtschaftliche Entwicklung in den einzelnen Regionen sei zu unterschiedlich, als dass eine einheitliche Geldpolitik effizient sein könne. Wie berechtigt solche Befürchtungen sind, lässt sich durch einen Vergleich des Euroraums mit einer schon seit langem funktionierende Währungsunion - den USA - prüfen. Es zeigt sich, dass die Unterschiede in der konjunkturellen Entwicklung zwischen den Regionen der Eurozone nicht größer sind als zwischen den Bundesstaaten der USA. Somit sind die Erfolgsaussichten der Geldpolitik im Euroraum keineswegs schlechter als in den USA.

Suggested Citation

  • Michael Artis & Christian Dreger & Konstantin A. Kholodilin, 2009. "Regionale Konjunkturunterschiede kein Hinderungsgrund für Geldpolitik im Euroraum," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 76(46), pages 806-809.
    • Handle: RePEc:diw:diwwob:76-46-3
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    More about this item

    Keywords

    convergence; Spatial correlation; Spatial panel model;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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