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Inflationsdifferenzen im Euroraum - Eine Bestandsaufnahme Author info | Abstract | Publisher info | Download info | Related research | Statistics Jochen Michaelis () (Department of Economics, University of Kassel)
Heike Minich () (Department of Economics, University of Kassel)
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registered author(s):
In einer Währungsunion sind Inflationsdifferenzen zwischen den Mitgliedsländern gleichbedeutend mit Veränderungen des realen Wechselkurses. Dies mag erklären, warum in jüngerer Vergangenheit die Inflationsdifferenzen innerhalb der Europäischen Währungsunion verstärkte Aufmerksamkeit in der akademischen Literatur gefunden haben. Der vorliegende Beitrag unternimmt eine Bestandsaufnahme der diesbezüglichen Diskussion. Nach einer kurzen Darstellung der Fakten wird gezeigt, dass die traditionellen Argumente "Preiskonvergenz" und "Balassa-Samuelson-Effekt" die beobachteten Inflationsunterschiede nicht hinreichend erklären können. Anhand eines neu-keynesianischen Makromodells werden strukturelle Unterschiede in den beteiligten Volkswirtschaften als Ursache für die Inflationsdifferenzen erläutert. Im Einzelnen sind dies länderspezifische Schocks in der Güternachfrage, die asymmetrische Wirkungsweise der Euro/Dollar-Entwicklung und die asymmetrische Wirkungsweise der einheitlichen Geldpolitik.
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Paper provided by University of Kassel, Institute of Economics in its series Discussion Papers in Economics with number
62/04.
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Length: 24 pages
Date of creation: Sep 2004Date of revision:
Publication status: Published in Aussenwirtschaft, 59. Jg., Heft 4 (2004), S. 379-405.Handle: RePEc:kas:wpaper:2004-62Contact details of provider: Postal: Nora-Platiel-Str. 4, 34109 Kassel Phone: +49/561/804-3562 Fax: +49/561/804-3083 Web page: http://www.uni-kassel.de/fb7/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Jochen Michaelis).
Keywords: Europäische Währungsunion ; Inflationsdifferenzen ; Balassa-Samuelson-Effekt ; Neu-keynesianische Makroökonomik ; Other versions of this item:
Find related papers by JEL classification: E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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