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EZB-Käufe von Staatsanleihen anders begründen!


  • Heiner Brockmann
  • Horst Keppler


Die Europäische Zentralbank (EZB) begründete die Ankäufe von Staatsanleihen damit, dass der geldpolitische Mechanismus funktionsfähig gehalten werden müsse, denn ihr gesetzlicher Auftrag sei es, Geldwertstabilität zu gewährleisten. Ihr Auftrag geht jedoch darüber hinaus: Sie hat die allgemeine Wirtschaftspolitik zu unterstützen, soweit dies die Geldwertstabilität nicht gefährdet. Dieser nachrangige gesetzliche Auftrag wird in der gegenwärtigen Diskussion außer Acht gelassen — dabei stellt er die plausiblere Begründung für die Ankäufe von Staatsanleihen dar. Copyright ZBW and Springer-Verlag 2012

Suggested Citation

  • Heiner Brockmann & Horst Keppler, 2012. "EZB-Käufe von Staatsanleihen anders begründen!," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 92(3), pages 173-176, March.
  • Handle: RePEc:spr:wirtsc:v:92:y:2012:i:3:p:173-176
    DOI: 10.1007/s10273-012-1357-4

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    Cited by:

    1. Schwäbe, Carsten, 2013. "Unkonventionelle Geldpolitik: Warum die Europäische Zentralbank ihre Unabhängigkeit nicht verloren hat," CIW Discussion Papers 3/2013, University of Münster, Center for Interdisciplinary Economics (CIW).

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