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Die makroökonomischen Effekte ausgeprägter Währungsaufwertungen

Author

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  • Kappler, Marcus
  • Reisen, Helmut
  • Schularick, Moritz
  • Turkisch, Edouard

Abstract

Die globalen Ungleichgewichte in den Leistungsbilanzen werden häufig als Bedrohung für die weltwirtschaftliche Stabilität angesehen. Ausgehend davon wird argumentiert, dass die Überschussländer wie etwa China deshalb ihre Währung aufwerten sollen, um diese stabilitätsgefährdenden Ungleichgewichte abzubauen. Welche Auswirkungen ausgeprägte und dauerhafte nominale und reale Wechselkursaufwertungen auf die Leistungsbilanz und weitere makroökonomische Schlüsselgrößen wie Wirtschaftswachstum, Investitionen und Ersparnisse sowie den Außenhandel haben, untersuchen Wissenschaftler des ZEW, der OECD und der Freien Universität Berlin in einer gemeinsamen Studie. Der folgende Beitrag fasst die zentralen Ergebnisse dieser Untersuchung zusammen.

Suggested Citation

  • Kappler, Marcus & Reisen, Helmut & Schularick, Moritz & Turkisch, Edouard, 2011. "Die makroökonomischen Effekte ausgeprägter Währungsaufwertungen," ZEW Wachstums- und Konjunkturanalysen, ZEW - Leibniz Centre for European Economic Research, vol. 14(1), pages 6-7.
    • Handle: RePEc:zbw:zewwka:126029
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    References listed on IDEAS

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    1. Valerie Cerra & Sweta Chaman Saxena, 2008. "Growth Dynamics: The Myth of Economic Recovery," American Economic Review, American Economic Association, vol. 98(1), pages 439-457, March.
    2. Kappler, Marcus & Reisen, Helmut & Schularick, Moritz & Turkisch, Edouard, 2013. "The Macroeconomic Effects of Large Exchange Rate Appreciations," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 24(3), pages 471-494.
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