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Inmitten der Krise des Euroraums - Herausforderungen für die Wirtschaftspolitik 2013

  • Gustav A. Horn
  • Sebastian Gechert
  • Alexander Herzog-Stein
  • Katja Rietzler
  • Silke Tober
  • Sabine Stephan
  • Andrew Watt

Die hohen Kosten der gerade von deutscher Seite forcierten Minimalstrategie zur Lösung der Krise des Euroraums werden nun nicht nur in den Krisenländern sondern auch in Deutschland selbst sichtbar: Die drastisch zurückgehende Nachfrage aus dem Euroraum belastet die deutsche Konjunktur erheblich. Die Ankündigung der Europäischen Zentralbank, grundsätzlich unbegrenzt Staatsanleihen zu kaufen, hat jetzt schon Wirkung gezeigt und lässt einen verhaltenen Optimismus für das Jahr 2013 aufkommen. Aber das Risiko eines konjunkturellen Absturzes im Sog der Krise im Euroraum ist hoch. Deshalb sollte derzeit die Wirtschaftspolitik in Deutschland aus einer europäischen Perspektive handeln. Die deutsche Fiskalpolitik sollte den wegen der Schuldenbremse begrenzten Spielraum nützen, um expansive Impulse zu setzen und den Euroraum aus der Krise zu führen. Deutschland muss zu einer makroökonomisch orientierten Lohnpolitik zurückzukehren, bei der die Löhne im Schritt mit der mittelfristigen Produktivitätsentwicklung und dem Preisziel der EZB steigen. Gesamtwirtschaftlich wäre es vorteilhaft, wenn für eine bestimmte Zeit die Löhne in Deutschland sogar schneller wachsen würden, um den Anpassungsprozess im Euroraum zu unterstützen.

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Paper provided by IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute in its series IMK Report with number 79-2013.

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Length: 19 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:imk:report:79-2013
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