IDEAS home Printed from https://ideas.repec.org/p/imk/report/75-2012.html
   My bibliography  Save this paper

Quo vadis Krise? Zwischenbilanz und Konzept für einen stabilen Euroraum

Author

Listed:
  • Gustav A. Horn

    (Macroeconomic Policy Institute (IMK))

  • Fabian Lindner

    (Macroeconomic Policy Institute (IMK))

  • Silke Tober

    (Macroeconomic Policy Institute (IMK))

  • Andrew Watt

    (Macroeconomic Policy Institute (IMK))

Abstract

Die Krise im Euroraum ist noch nicht bewältigt. Die wirtschaftliche Entwicklung in den Krisenländern ist als Folge der Austeritätspolitik desaströs und belastet zunehmend den gesamten Währungsraum. Die wesentliche Ursache der Krise, die dauerhafte Verletzung des Inflationsziels auf der Ebene der Nationalstaaten, wird vielfach nicht erkannt, und die Maßnahmen werden einseitig auf die Überwindung der Staatsverschuldung verengt. Daher ist eine grundlegende Kurskorrektur in der Wirtschaftspolitik erforderlich. Der Konsolidierungskurs muss gestreckt und ein Schuldentilgungsfonds eingerichtet werden. Ein reformierter Fiskalpakt ist nötig, der auf die Vermeidung von außenwirtschaftlichen Ungleichgewichten gerichtet ist. Auf längere Sicht sollte diese Aufgabe einem Europäischen Währungsfonds übertragen werden.

Suggested Citation

  • Gustav A. Horn & Fabian Lindner & Silke Tober & Andrew Watt, 2012. "Quo vadis Krise? Zwischenbilanz und Konzept für einen stabilen Euroraum," IMK Report 75-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    • Handle: RePEc:imk:report:75-2012
    as

    Download full text from publisher

    File URL: http://www.boeckler.de/pdf/p_imk_report_75_2012.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Eckhard Hein & Achim Truger, 2011. "Fiscal Policy in the Macroeconomic Policy Mix: A Critique of the New Consensus Model and a Comparison of Macroeconomic Policies in France, Germany, the UK and Sweden from a Post-Keynesian Perspective," Chapters, in: Claude Gnos & Louis-Philippe Rochon (ed.), Credit, Money and Macroeconomic Policy, chapter 12, Edward Elgar Publishing.
    2. Gustav A. Horn & Fabian Lindner & Torsten Niechoj, 2011. "Schuldenschnitt für Griechenland - ein gefährlicher Irrweg für den Euroraum," IMK Report 63-2011, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Gustav A. Horn & Silke Tober, 2007. "Wie stark kann die deutsche Wirtschaft wachsen?," IMK Report 17-2007, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    4. Gustav A. Horn & Silke Tober & Till van Treeck & Achim Truger, 2010. "Euroraum vor der Zerreißprobe?," IMK Report 48-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    5. Francesca D'Auria & Cécile Denis & Karel Havik & Kieran Mc Morrow & Christophe Planas & Rafal Raciborski & Werner Roger & Alessandro Rossi, 2010. "The production function methodology for calculating potential growth rates and output gaps," European Economy - Economic Papers 2008 - 2015 420, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    6. Achim Truger & Henner Will, 2012. "Gestaltungsanfällig und pro-zyklisch: Die deutsche Schuldenbremse in der Detailanalyse," IMK Working Paper 88-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    7. Achim Truger & Henner Will, 2012. "Eine Finanzpolitik im Interesse der naechsen Generationen," IMK Studies 24-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    8. Reda Cherif & Fuad Hasanov, 2018. "Public debt dynamics: the effects of austerity, inflation, and growth shocks," Empirical Economics, Springer, vol. 54(3), pages 1087-1105, May.
    9. Oecd, 2011. "Fiscal consolidation: targets, plans and measures," OECD Journal on Budgeting, OECD Publishing, vol. 11(2), pages 15-67.
    10. Gustav A. Horn & Torsten Niechoj & Silke Tober & Till van Treeck & Achim Truger, 2010. "Reform des Stabilitäts- und Wachstumspakts: Nicht nur öffentliche, auch private Verschuldung zählt," IMK Report 51-2010, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    11. Buti,Marco & Deroose,Servaas & Gaspar,Vitor & Martins,João Nogueira (ed.), 2010. "The Euro," Cambridge Books, Cambridge University Press, number 9789279098420, September.
    12. Merler, S. & Pisani-Ferry, J., 2012. "Hazardous tango: sovereign-bank interdependence and financial stability in the euro area," Financial Stability Review, Banque de France, issue 16, pages 201-210, April.
    13. Giovanni Callegari & Mr. Giovanni Melina & Nicoletta Batini, 2012. "Successful Austerity in the United States, Europe and Japan," IMF Working Papers 2012/190, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ulrike Stein & Sabine Stephan & Rudolf Zwiener, 2012. "Zu schwache deutsche Arbeitskostenentwicklung belastet Europäische Währungsunion und soziale Sicherung," IMK Report 77-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Dieter Vesper, 2016. "Aktuelle Entwicklungstendenzen und zukünftiger Personalbedarf im Öffentlichen Dienst," IMK Studies 51-2016, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Sabine Stephan & Jonas Löbbing, 2013. "Außenhandel der der EU27," IMK Report 83-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    4. Heiner Dribbusch, 2015. "Where is the European general strike? Understanding the challenges of trans-European trade union action against austerity," Transfer: European Review of Labour and Research, , vol. 21(2), pages 171-185, May.
    5. Arnaud Lechevalier, 2015. "Eucken under the Pillow: The Ordoliberal Imprint on Social Europe," Post-Print halshs-03781875, HAL.
    6. Fabian Lindner, 2013. "Banken treiben Eurokrise," IMK Report 82-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    7. Gustav A. Horn & Sebastian Gechert & Alexander Herzog-Stein & Katja Rietzler & Silke Tober & Sabine Stephan & Andrew Watt, 2013. "Inmitten der Krise des Euroraums - Herausforderungen für die Wirtschaftspolitik 2013," IMK Report 79-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gustav A. Horn & Fabian Lindner & Silke Tober & Andrew Watt, 2012. "Where now for the euro area crisis? Interim assessment and a model for a stable euro area," IMK Report 75e-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    2. Gustav A. Horn & Sebastian Gechert & Alexander Herzog-Stein & Katja Rietzler & Silke Tober & Sabine Stephan & Andrew Watt, 2013. "Inmitten der Krise des Euroraums - Herausforderungen für die Wirtschaftspolitik 2013," IMK Report 79-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Achim Truger, 2015. "Implementing the golden rule for public investment in Europe," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 138, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    4. Achim Truger, 2015. "Implementing the Golden Rule for Public Investment in Europe: Safeguarding Public Investment and Supporting the Recovery. WWWforEurope Policy Paper No. 22," WIFO Studies, WIFO, number 57898.
    5. Argentino Pessoa, 2013. "Regional integration and the euro crisis: problems and solutions," ERSA conference papers ersa13p1153, European Regional Science Association.
    6. Castro, Gabriela & Félix, Ricardo M. & Júlio, Paulo & Maria, José R., 2015. "Unpleasant debt dynamics: Can fiscal consolidations raise debt ratios?," Journal of Macroeconomics, Elsevier, vol. 44(C), pages 276-294.
    7. Achim Truger, 2013. "Austerity in the euro area: the sad state of economic policy in Germany and the EU," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(2), pages 158-174.
    8. Achim Truger, 2014. "Austerity, cyclical adjustment and the remaining leeway for expansionary fiscal policies in the Euro area," IMK Working Paper 140-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    9. Fabian Lindner, 2013. "Banken treiben Eurokrise," IMK Report 82-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    10. Attinasi, Maria Grazia & Metelli, Luca, 2017. "Is fiscal consolidation self-defeating? A panel-VAR analysis for the Euro area countries," Journal of International Money and Finance, Elsevier, vol. 74(C), pages 147-164.
    11. Boysen-Hogrefe, Jens, 2014. "Konjunkturbereinigung der Länder: Eine Quasi-Echtzeitanalyse am Beispiel Schleswig-Holsteins," Kiel Discussion Papers 538, Kiel Institute for the World Economy (IfW Kiel).
    12. Gustav A. Horn & Alexander Herzog-Stein & Ansgar Rannenberg & Katja Rietzler & Silke Tober & Peter Hohlfeld & Fabian Lindner & Sabine Stephan, 2013. "Krise überwunden? Prognose der wirtschaftlichen Entwicklung 2013/2014," IMK Report 86-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    13. Creel, Jérôme & Hubert, Paul & Saraceno, Francesco, 2013. "An assessment of the Stability and Growth Pact reform in a small-scale macro-framework," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1567-1580.
    14. Gustav A. Horn & Alexander Herzog-Stein & Ansgar Rannenberg & Katja Rietzler & Silke Tober & Rudolf Zwiener, 2014. "Wirtschaftspolitische Herausforderungen 2014," IMK Report 90-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    15. repec:clr:wugarc:y:2011:v:37i:1p:51 is not listed on IDEAS
    16. Silke Tober, 2011. "Makroökonomische Politik zur Bewältigung der Krise im Euroraum: Die Rolle Deutschlands," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 37(1), pages 51-68.
    17. Gustav A. Horn & Alexander Herzog-Stein & Silke Tober & Achim Truger, 2012. "Den Bann durchbrechen - Wirtschaftspolitische Herausforderungen 2012," IMK Report 70-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    18. Enrico Gabriele, 2017. "Re-Evaluating The Keynesian Multiplier: Critiques And Evidence From Europe," CERBE Working Papers wpC21, CERBE Center for Relationship Banking and Economics.
    19. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
    20. ADAM, Alexandra, 2015. "Approaches Of Public Finance Sustainability Taking Into Account The Current Economic Context," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 19(1), pages 93-101.
    21. repec:spo:wpmain:info:hdl:2441/gmkj8k1vf8tpbdue5q2emsepp is not listed on IDEAS
    22. Jack Bekooij & Jon Frost & Remco van der Molen & Krzysztof Muzalewski, 2016. "Hazardous tango: Sovereign-bank interdependencies across countries and time," DNB Working Papers 541, Netherlands Central Bank, Research Department.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imk:report:75-2012. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sabine Nemitz (email available below). General contact details of provider: https://edirc.repec.org/data/imkhbde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.