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FIW-PB 5 Wechselkurse und österreichischer Außenhandel

Author

Listed:
  • Doris Ritzberger-Grünwald
  • Julia Wörz

Abstract

Zusammenfassung:Zuerst war es die Hartwährungspolitik, dann die Mitgliedschaft im Euroraum, die den Zusammenhang zwischen Wechselkursen und österreichischem Außenhandel in Vergessenheit geraten ließen. Der massive Einbruch des Welthandels im Zuge der Finanzmarktkrise und die jüngste Euroschwäche ge-genüber dem USD rückten ihn jedoch wieder ins Blickfeld. Tatsächlich reagierte der Außenhandel in Österreich in der Krise wesentlich stärker als das BIP, wobei der Handel mit EU-Partnern deutlich stärker einbrach als der Handel mit Drittstaaten. Ausschlaggebend dafür war vor allem der Nachfrageeinbruch auf den österreichischen Exportmärkten, insbesondere jener bei dauerhaften Konsumgütern, Maschinen und Fahrzeugen. Angesichts des massiven Nachfrageausfalls blieb die Wechselkursentwicklung nur von untergeordneter Bedeutung. Offensichtlich haben der Vertrauensverlust in der Krise, aber auch unterschiedliche Reaktionen von Produzenten und Konsumenten oder auch auf Firmenebene die preislich bedingten Reaktionsmechanismen stark gedämpft.

Suggested Citation

  • Doris Ritzberger-Grünwald & Julia Wörz, 2010. "FIW-PB 5 Wechselkurse und österreichischer Außenhandel," FIW Policy Brief series 005, FIW.
    • Handle: RePEc:wsr:pbrief:y:2010:i:005
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    References listed on IDEAS

    as
    1. Nicolas Berman & Philippe Martin & Thierry Mayer, 2009. "How do Different Exporters React to Exchange Rate Changes? Theory, Empirics and Aggregate Implications," Working Papers 2009-32, CEPII research center.
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    4. repec:hal:wpspec:info:hdl:2441/10221 is not listed on IDEAS
    5. Aiginger, K., 1998. "A framework for evaluating the dynamic competitiveness of countries," Structural Change and Economic Dynamics, Elsevier, vol. 9(2), pages 159-188, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Hartwährungspolitik; preisliche Wettbewerbsfähigkeit; externe Nachfrage;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F15 - International Economics - - Trade - - - Economic Integration
    • F02 - International Economics - - General - - - International Economic Order and Integration

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