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Zinserhöhungen wirken weniger als erwartet

Author

Listed:
  • Enzinger, Matthias
  • Gechert, Sebastian
  • Heimberger, Philipp
  • Prante, Franz
  • Romero, Dani F.

Abstract

Konventionelle Geldpolitik wird von der EZB weiterhin als das primäre Instrument zur Preisstabilisierung verwendet. Gleichzeitig verändern sich Preisdynamiken, angebotsseitige Schocks gewinnen an Bedeutung. Die Meta-Studie von Enzinger et al. (2025)[1] wertet über 400 Studien zur Effektivität konventioneller Geldpolitik aus und korrigiert systematische Verzerrungen, insbesondere den sogenannten Publication Bias. Die Ergebnisse deuten darauf hin, dass konventionelle Geldpolitik weniger effektiv ist, als der Durchschnitt bisheriger Schätzungen suggeriert. In diesem Artikel[2] stellen Enzinger, Gechert, Heimberger, Prante und Romero die Ergebnisse ihrer Studie vor. Als mögliche Implikationen schlagen sie unter anderem einen breiteren Instrumentenmix zur Preisstabilisierung vor.

Suggested Citation

  • Enzinger, Matthias & Gechert, Sebastian & Heimberger, Philipp & Prante, Franz & Romero, Dani F., 2026. "Zinserhöhungen wirken weniger als erwartet," Papers 337418, Dezernat Zukunft - Institute for Macrofinance, Berlin.
  • Handle: RePEc:zbw:dzimps:337418
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