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Koordinierte Makropolitik in der Europäischen Union?

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  • Bizer, Kilian
  • Sesselmeier, Werner

Abstract

In der Europäischen Union, genauer in den 12 Mitgliedsländern der Euro-Zone, bestimmt die Europäische Zentralbank die Geldpolitik, und die zwölf Mitgliedsländer legen unabhängig voneinander die jeweiligen Fiskalpolitiken fest. Während bei den einen - und dazu zählt Deutschland - eine bemerkenswert hohe Preisniveaustabilität und eine spürbare Wachstumsschwäche zu verzeichnen ist, erfahren andere - wie Irland, Portugal, Spanien - durchaus zufrieden stellende Wachstumsraten bei höheren Preisniveausteigerungen. Die Arbeitslosigkeit ist in der EU insgesamt relativ hoch. Vor diesem Hintergrund ist die Forderung erhoben worden, eine koordinierte Makropolitik in der EU zu betreiben, um entweder mehr Wachstum und Beschäftigung zu erreichen (Hein 2001, Priewe 2001) oder um zumindest auf vorübergehende Nachfrageschwächen bei exogenen Schocks zu reagieren. Im Folgenden geht es darum zu klären, welcher Beitrag von der koordinierten Makropolitik zu leisten ist, und welche institutionellen Voraussetzungen für eine solche zu erfüllen sind. Die Leitthese lautet, dass ausgehend von einem positiven Beitrag koordinierter Makropolitik im neu-keynesianischen Modell momentan nur wenig institutionelles Potential für eine Koordination besteht. Einerseits bildet der Stabilitäts- und Wachstumspakt nur eine regelgebundene Obergrenze für den Einsatz der Fiskalpolitik zum Schutz der gemeinsamen Geldpolitik, andererseits reichen die vorhandenen Institutionen nicht aus, um eine Koordination von Geld- und Fiskalpolitik und möglicherweise weiteren Politikfeldern zu erreichen. Es ist folglich nach neuen Institutionen zu suchen, die eine derartige Aufgabe zu lösen vermögen

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  • Bizer, Kilian & Sesselmeier, Werner, 2004. "Koordinierte Makropolitik in der Europäischen Union?," Darmstadt Discussion Papers in Economics 137, Darmstadt University of Technology, Department of Law and Economics.
    • Handle: RePEc:zbw:darddp:dar_21326
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    References listed on IDEAS

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    1. Eijffinger, Sylvester & Haan, Jakob de, 2000. "European Monetary and Fiscal Policy," OUP Catalogue, Oxford University Press, number 9780198776161, Decembrie.
    2. Gottschalk, Jan, 2002. "Keynesian and monetarist views on the German unemployment problem: theory and evidence," Kiel Working Papers 1096, Kiel Institute for the World Economy (IfW Kiel).
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    1. Kilian Bizer & Zulia Gubaydullina & Hazim Rahahleh & Werner Sesselmeier, 2007. "FTPL-Perspective on Tradable Deficit Permits in the EMU," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 35(3), pages 259-267, September.

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