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Weshalb die Europäische Währungsunion den Stabilitätspakt braucht

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  • Horst Siebert
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    Abstract

    Der Stabilitätspakt hat die Aufgabe, der nationalen Finanzpolitik bei der Verschuldung die Hände zu binden und damit den Euro als vergemeinschaftete Währung abzusichern. Denn ob Geld stabil ist, hängt auch davon ab, wie solide die Staatsfinanzen sind. Den Pakt aufzuweichen wird später einen Vertrauensverlust für den Euro mit sich bringen. The stability pact is intended to bind the hands of national fiscal policy with respect to debt and thus protect the euro as a common eurrency. To what extent the value of money is stable depends on the solidity of the government's finances. To weaken the pact will imply a loss of confidence for the euro later on.

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    Bibliographic Info

    Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1134.

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    Length: 20 pages
    Date of creation: Nov 2002
    Date of revision:
    Handle: RePEc:kie:kieliw:1134

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    1. Willem H. Buiter, 1999. "Alice in Euroland," Journal of Common Market Studies, Wiley Blackwell, Wiley Blackwell, vol. 37(2), pages 181-209, 06.
    2. Peffekoven, Rolf & Linsenmann, Ingo & Wessels, Wolfgang & Hasse, Rolf H. & Hefeker, Carsten, 2002. "Sollte der Stabilitäts- und Wachstumspakt geändert werden?," Wirtschaftsdienst – Zeitschrift für Wirtschaftspolitik (1998 - 2007), ZBW – German National Library of Economics / Leibniz Information Centre for Economics, vol. 82(3), pages 127-140.
    3. Martin Feldstein, 1997. "The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 11(4), pages 23-42, Fall.
    4. Tamim Bayoumi & Barry Eichengreen, 1995. "Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 32-48, March.
    5. Robert J. Barro & David B. Gordon, 1983. "Rules, Discretion and Reputation in a Model of Monetary Policy," NBER Working Papers 1079, National Bureau of Economic Research, Inc.
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    1. repec:got:cegedp:19 is not listed on IDEAS
    2. Wolf, Marvin, 2013. "Währungsunionen und Allmendeproblem," Hannover Economic Papers (HEP), Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät dp-521, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
    3. Ohr, Renate & Schmidt, André, 2003. "Der Stabilitäts- und Wachstumspakt im Zielkonflikt zwischen fiskalischer Flexibilität und Glaubwürdigkeit: Ein Reformansatz unter Berücksichtigung konstitutionen- und institutionenökonomischer As," Center for European, Governance and Economic Development Research Discussion Papers 19, University of Goettingen, Department of Economics.

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