IDEAS home Printed from https://ideas.repec.org/a/diw/diwvjh/69-20-3.html
   My bibliography  Save this article

Die doppelte Währungsunion: Deutschland und Europa im wirtschaftlichen Integrationsprozess ; ein Rückblick und ein Vergleich

Author

Listed:
  • Gustav A. Horn
  • Ulrich Fritsche
  • Wolfgang Scheremet

Abstract

Zweimal in den vergangenen 10 Jahren unterwarfen politisch-ökonomische Entscheidungen die wirtschaftlichen Rahmenbedingungen in Deutschland einem fundamentalen Wandel: Die Wirtschafts-und Währungsunion mit der DDR und die Einführung einer gemeinsamen Währung in Europa. Während der europäische Einigungsprozess bisher ohne größere Schwierigkeiten verläuft, kommt die Integration in Deutschland allenfalls stockend voran. Diese Arbeit versucht eine Erklärung dieser gegenläufigen Entwicklungen. Im Kern geht es dabei um die Frage, ob Europa bzw. Deutschland ein optimaler Währungsraum ist. Daraus ergibt sich die weiter gehende Suche nach Bedingungen, um eine Währungsunion ohne tiefergreifende Friktionen durchführen zu können. Für den europäischen Integrationsprozess wurden bereits im Vorfeld Vorkehrungen getroffen, die sicher stellen sollten, dass eine Währungsunion erfolgreich im Sinne von mehr Wachstum und Beschäftigung sein konnte. All dies war in Deutschland nicht der Fall. Daraus resultiert die Frage, ob und wie ein Aufholprozess unter den Bedingungen einer bereits existierenden Währungsunion überhaupt noch möglich ist.

Suggested Citation

  • Gustav A. Horn & Ulrich Fritsche & Wolfgang Scheremet, 2000. "Die doppelte Währungsunion: Deutschland und Europa im wirtschaftlichen Integrationsprozess ; ein Rückblick und ein Vergleich," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 69(2), pages 163-177.
    • Handle: RePEc:diw:diwvjh:69-20-3
    DOI: 10.3790/vjh.69.2.163
    as

    Download full text from publisher

    File URL: https://doi.org/10.3790/vjh.69.2.163
    Download Restriction: no
    File URL: https://libkey.io/10.3790/vjh.69.2.163?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
    2. Barry Eichengreen, 1992. "Is Europe an Optimum Currency Area?," Palgrave Macmillan Books, in: Silvio Borner & Herbert Grubel (ed.), The European Community after 1992, chapter 8, pages 138-161, Palgrave Macmillan.
    3. Dieter Vesper, 1995. "Finanzpolitisches Handeln und Vereinigungsprozeß: ein Rückblick auf fünf Jahre Deutsche Einheit," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 64(3), pages 367-385.
    4. Torres,Francisco & Giavazzi,Francesco (ed.), 1993. "Adjustment and Growth in the European Monetary Union," Cambridge Books, Cambridge University Press, number 9780521440196, September.
    5. George A. Akerlof & Andrew K. Rose & Janet L. Yellen & Helga Hessenius, 1991. "East Germany in from the Cold: The Economic Aftermath of Currency Union," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 1-106.
    6. Eichengreen, Barry, 1990. "One Money for Europe? Lessons from the US Currency Union," Department of Economics, Working Paper Series qt6ks1k831, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Handler, Heinz, 2013. "The eurozone: piecemeal approach to an optimum currency area," MPRA Paper 67183, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.
    2. Ricci, Luca Antonio, 2008. "A Model of an Optimum Currency Area," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 2, pages 1-31.
    3. Paolo Pasimeni, 2014. "An Optimum Currency Crisis," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 11(2), pages 173-204, December.
    4. Florence Huart & Médédé Tchakpalla, 2019. "Labor Market Conditions and Geographic Mobility in the Eurozone," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 61(2), pages 263-284, June.
    5. Shin, Kwanho & Wang, Yunjong, 2004. "Trade integration and business cycle co-movements: the case of Korea with other Asian countries," Japan and the World Economy, Elsevier, vol. 16(2), pages 213-230, April.
    6. Ansgar Belke & Clemens Domnick & Daniel Gros, 2017. "Business Cycle Synchronization in the EMU: Core vs. Periphery," Open Economies Review, Springer, vol. 28(5), pages 863-892, November.
    7. Ignacy Święcicki & Jan J. Michałek, 2014. "Sources of difficulties in coordination of monetary and fiscal policies in the European Economic and Monetary Union," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 39.
    8. Campos, Nauro F. & Macchiarelli, Corrado, 2021. "The dynamics of core and periphery in the European monetary union: A new approach," Journal of International Money and Finance, Elsevier, vol. 112(C).
    9. Mogaji, Peter Kehinde, 2015. "Review of Architectural Flaws of the EMU: What Eurozone Crisis Lessons for the Proposed ‘Afrozone’?," MPRA Paper 99334, University Library of Munich, Germany.
    10. Alban Mathieu, 2021. "Frankel and Rose’s Introduction to the Endogeneity of Optimality: A Model Limited to the European Monetary Experience," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 299-314, July.
    11. Büttner, Thiess, 1999. "Regional Stabilization by Fiscal Equalization? Theoretical Considerations and Empirical Evidence from Germany," ZEW Discussion Papers 99-23, ZEW - Leibniz Centre for European Economic Research.
    12. Kalemli-Ozcan, Sebnem & Sørensen, Bent E & Yosha, Oved, 2004. "Asymmetric Shocks and Risk Sharing in a Monetary Union: Updated Evidence and Policy Implications for Europe," CEPR Discussion Papers 4463, C.E.P.R. Discussion Papers.
    13. Mulatu F. Zerihun & Marthinus C. Breitenbach & Francis Kemegue, 2014. "A Greek Wedding In SADC? Testing For Structural Symmetry Towards SADC Monetary Integration," The African Finance Journal, Africagrowth Institute, vol. 16(2), pages 16-33.
    14. Giancarlo Corsetti & Paolo Pesenti, 2002. "Self-Validating Optimum Currency Areas," NBER Working Papers 8783, National Bureau of Economic Research, Inc.
    15. Erden, Lutfi & Ozkan, Ibrahim, 2014. "Determinants of international transmission of business cycles to Turkish economy," Economic Modelling, Elsevier, vol. 36(C), pages 383-390.
    16. J.M.C. Santos Silva & Silvana Tenreyro, 2010. "Currency Unions in Prospect and Retrospect," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 51-74, September.
    17. Handler, Heinz, 2013. "The eurozone: piecemeal approach to an optimum currency area," MPRA Paper 67183, University Library of Munich, Germany.
    18. Kwanho Shin & Yunjong Wang, 2003. "Monetary Integration Ahead of Trade Integration in East Asia?," ISER Discussion Paper 0572, Institute of Social and Economic Research, Osaka University.
    19. Marc-Alexandre Sénégas, 2010. "La théorie des zones monétaires optimales au regard de l'euro : Quels enseignements après dix années d'union économique et monétaire en Europe ?," Revue d'économie politique, Dalloz, vol. 120(2), pages 379-419.
    20. Alain Borghijs & Sjef Ederveen & Ruud de Mooij, 2003. "European wage coordination; nightmare or dream to come true? An economic analysis of wage bargaining institutions in the EU," CPB Discussion Paper 17, CPB Netherlands Bureau for Economic Policy Analysis.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:diw:diwvjh:69-20-3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bibliothek (email available below). General contact details of provider: https://edirc.repec.org/data/diwbede.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.