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Europäische Zentralbank: kontraproduktive unkonventionelle Geldpolitik und der Euro-Wechselkurs / European Central Bank: counter-productive unconventional monetary policy and the exchange rate

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  • Belke Ansgar

Abstract

The ECB should resist the temptation to fight the threat of deflation in the euro zone by even more unconventional monetary policies (eg “quantitative easing”). What may have worked in the US or in the UK, will not work in the euro zone. There is even a risk of a deflationary spiral, as this article shows. The arguments are embedded in the current debate about the “too strong” euro.

Suggested Citation

  • Belke Ansgar, 2014. "Europäische Zentralbank: kontraproduktive unkonventionelle Geldpolitik und der Euro-Wechselkurs / European Central Bank: counter-productive unconventional monetary policy and the exchange rate," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 65(1), pages 117-132, January.
    • Handle: RePEc:bpj:ordojb:v:65:y:2014:i:1:p:117-132:n:8
    DOI: 10.1515/ordo-2014-0108
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    References listed on IDEAS

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