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Die Kaufkraft des Euro innerhalb und außerhalb der Währungsunion

Author

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  • Stephan Schulmeister

Abstract

Auf Basis eines gesamtwirtschaftlichen Warenkorbs (BIP) war der Euro gegenüber dem Dollar Anfang 2000 um 9,0% unterbewertet (in diesem Ausmaß lag sein Wechselkurs von 0,98 $ unter der Kaufkraftparität des BIP von 1,08 $). Gemessen an der Kaufkraftparität von international gehandelten Gütern und Dienstleistungen war der Euro Anfang 2000 gegenüber dem Dollar noch um 13,4% überbewertet (die Kaufkraftparität auf Basis von Tradables beträgt derzeit 0,87 $). Zwischen 1986 und 1999 war der Euro bzw. ECU gegenüber dem Dollar um durchschnittlich 32,6% überbewertet, gleichzeitig sank der Anteil der EU an den Gesamtexporten der Triade (EU, USA, Japan) um 5 Prozentpunkte, während jener der USA um 7 Prozentpunkte stieg. Die Marktanteilsentwicklung zwischen 1973 und 1985 bestätigt, dass die Kaufkraftparität der Tradables (und nicht jene des BIP) die relevante Richtgröße für "faire" Wechselkurse ist.

Suggested Citation

  • Stephan Schulmeister, 2000. "Die Kaufkraft des Euro innerhalb und außerhalb der Währungsunion," WIFO Studies, WIFO, number 13652, April.
    • Handle: RePEc:wfo:wstudy:13652
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    File URL: https://www.wifo.ac.at/wwa/pubid/13652
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    Citations

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    Cited by:

    1. Jörg Hinze, 2000. "Does a weak Euro signify poor competitiveness of the Euro zone?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 35(4), pages 183-190, July.
    2. Stephan Schulmeister, 2000. "Wachstumsbeschleunigung in der EU, Abschwächung in den USA, Japan bleibt Nachzügler. Mittelfristige Prognose der Weltwirtschaft bis 2004," WIFO Monatsberichte (monthly reports), WIFO, vol. 73(1), pages 27-39, January.
    3. Stephan Schulmeister, 2000. "Kaufkraftparitäten des Dollars und des Euro," WIFO Monatsberichte (monthly reports), WIFO, vol. 73(8), pages 487-500, August.

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