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Ziele der Geldpolitik - Die Rolle von Konjunkturstabilisierung

  • Helene Schuberth
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    Mit dem Bedeutungsverlust der Politikineffizienzthese der Neuen Klassischen Makroökonomie ist nun staatliche Konjunktursteuerung wieder in das Zentrum des wissenschaftlichen Interesses gerückt. Insbesondere der Geldpolitik werden bedeutende reale Effekte in der kurzen und mittleren Frist zugeschrieben. Dies wird in den statutarisch festgelegten Zielen der Geldpolitik nur insofern beachtet, als reale Ziele, wie hohe Beschäftigung oder Wachstum, wenn überhaupt, als sekundäre Ziele Berücksichtigung finden und die Sicherung der Preisstabilität als das einzige oder primäre Ziel der Geldpolitik gilt. Insbesondere die populär gewordene Inflationszielstrategie hat diese Zielhierarchie im Bewusstsein fest verankert. Es wird gezeigt, dass ökonomische Überlegungen, die eine geringe Berücksichtigung realwirtschaftlicher Ziele nahe legen, einer kritischen Prüfung nicht standhalten , da diese modellabhängig sind und auf arbiträr gewählten Verhaltensannahmen basieren.

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    Article provided by Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik in its journal Wirtschaft und Gesellschaft.

    Volume (Year): 30 (2004)
    Issue (Month): 2 ()
    Pages: 177-195

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    Handle: RePEc:clr:wugarc:y:2004v:30i:2p:177
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    1. Fritz Breuss, 2002. "Was ECB's Monetary Policy Optimal?," WIFO Working Papers 173, WIFO.
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