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Mythos TARGET2 - ein Zahlungsverkehrssystem in der Kritik

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Author Info

  • Peter Burgold

    ()
    (School of Economics and Business Administration, Friedrich-Schiller-University Jena)

  • Sebastian Voll

    ()
    (School of Economics and Business Administration, Friedrich-Schiller-University Jena)

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    Abstract

    TARGET2 ist seit gut einem Jahr Zielscheibe massiver akademischer Kritik. Wir legen dar, dass TARGET2 keiner Veränderungen bedarf. Die Salden sind keine echten Kredite und sollten nicht als solche betrachtet werden. Die zugrunde liegenden ökonomischen Probleme sind weder hinreichend noch notwendig mit dem Zahlungssystem verknüpft und können deswegen darüber nicht sinnvoll angegangen werden. Die geforderten Modifikationen stellen zudem keine überzeugenden Alternativen dar, insbesondere auch nicht für den Fall eines Auseinanderbrechens der Eurozone. Dann sind sie im Übrigen auch nur ein Teilproblem der zu regelnden Desintegration der Zentralbankbilanzen.

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    File URL: http://pubdb.wiwi.uni-jena.de/pdf/wp_hlj29-2012.pdf
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    Bibliographic Info

    Paper provided by Friedrich-Schiller-University Jena in its series Global Financial Markets Working Paper Series with number 29-2012.

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    Date of creation: 28 May 2012
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    Handle: RePEc:hlj:hljwrp:29-2012

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    Web page: http://www.gfinm.de

    Related research

    Keywords: Eurokrise; Schuldenkrise; Währungsunion; Zentralbankkredit; grenzüberschreitender Zahlungsverkehr; Target2; Banknoten; Währungsdesintegration; euro crisis; debt crisis; monetary union; central bank credit; transnational payment system; Target2; banknotes; monetary disintegration;

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    Cited by:
    1. Peter Burgold, 2013. "Nominale Abwertung innerhalb einer Währungsunion," Global Financial Markets Working Paper Series, Friedrich-Schiller-University Jena 47-2013, Friedrich-Schiller-University Jena.

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