IDEAS home Printed from https://ideas.repec.org/a/ksa/szemle/1923.html
   My bibliography  Save this article

Az euró reformja - a keynesi szellemű megoldás
[Reform of the euro: the Keynesian solution]

Author

Listed:
  • Szakolczai, György

Abstract

Megalkotói az eurót az egyre szorosabb európai együttműködés legfontosabb előrevivőjének, elmélyítőjének tekintették. Már a közös valuta működésének tizedik évében azonban nyilvánvalóvá vált, hogy az euró, jelen formájában, inkább az európai egység hátráltatójává vált. Az európai integráció feltétlen híveként egy olyan pénzügyi rendszer felvázolására teszek kísérletet, amely a jelenleginél jobban szolgálná Európa egységét. E pénzügyi rendszer alapelveit Keynes vetette fel már az 1930-as években, és dolgozta ki megvalósításának módját az 1940-es évek elején. Elgondolásait akkor csak részben tudta elfogadtatni, mert a Bretton Woods-i intézmények nem az ő tervei, hanem döntő részben az amerikaiak elképzelései szerint alakultak meg. A Keynes által akkor a világméretű problémák megoldására kidolgozott elvek alkalmasak lennének a mai európai problémák megoldására, de ez természetesen csak az európai és a világméretű problémák közötti különbségek és az azóta eltelt nyolcvan év alatt bekövetkezett változások figyelembevételével képzelhető el.* Journal of Economic Literature (JEL) kód: B17, B31, F15, F45, F33, N10.

Suggested Citation

  • Szakolczai, György, 2020. "Az euró reformja - a keynesi szellemű megoldás [Reform of the euro: the Keynesian solution]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 911-929.
    • Handle: RePEc:ksa:szemle:1923
    DOI: 10.18414/KSZ.2020.9.911
    as

    Download full text from publisher

    File URL: http://www.kszemle.hu/tartalom/letoltes.php?id=1923
    Download Restriction: Registration and subscription. 3-month embargo period to non-subscribers.
    File URL: https://libkey.io/10.18414/KSZ.2020.9.911?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Feldstein, Martin, 2015. "Ending the euro crisis," Journal of Policy Modeling, Elsevier, vol. 37(3), pages 423-427.
    2. Feldstein, Martin, 2005. "The euro and the stability pact," Journal of Policy Modeling, Elsevier, vol. 27(4), pages 421-426, June.
    3. Martin Feldstein, 1997. "The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 23-42, Fall.
    4. Otmar Issing, 2017. "Central banks—are their reputations and independence under threat from overburdening?," International Finance, Wiley Blackwell, vol. 20(1), pages 92-99, March.
    5. Feldstein, Martin, 2000. "The European Central Bank and the Euro: The First Year," Journal of Policy Modeling, Elsevier, vol. 22(3), pages 345-354, May.
    6. Szakolczai, György, 2017. "Keynes és White szerepe a Nemzetközi Valutaalap létrehozásában és a Bretton Woods-i értekezlet [The role of Keynes and White in founding the International Monetary Fund and at the Bretton Woods con," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 74-96.
    7. Martin S. Feldstein, 2009. "Reflections on Americans' Views of the Euro Ex Ante," NBER Working Papers 14696, National Bureau of Economic Research, Inc.
    8. Neményi, Judit & Oblath, Gábor, 2012. "Az euró bevezetésének újragondolása [Rethinking Hungary s prospective adoption of the Euro]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 569-684.
    9. Losoncz, Miklós, 2019. "A gazdasági és monetáris unió fenntarthatóságának néhány kérdése [Some issues of sustainability of the Economic and Monetary Union]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 478-496.
    10. Feldstein, Martin, 2013. "Coordination in the European Union," Journal of Policy Modeling, Elsevier, vol. 35(3), pages 434-439.
    11. Anonymous, 1965. "International Monetary Fund," International Organization, Cambridge University Press, vol. 19(4), pages 1052-1056, October.
    12. Martin S. Feldstein, 2011. "The Euro and European Economic Conditions," NBER Working Papers 17617, National Bureau of Economic Research, Inc.
    13. Anonymous, 1969. "I. United Nations," International Organization, Cambridge University Press, vol. 23(4), pages 971-989, October.
    14. Stephan Kohns, 2017. "Monetary Policy and Financial Stability," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(01), pages 17-18, April.
    15. Stephan Kohns, 2017. "Monetary Policy and Financial Stability," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(1), pages 17-18, 04.
    16. repec:ces:ifodic:v:15:y:2017:i:1:p:19307486 is not listed on IDEAS
    17. Issing, Otmar, 2020. "Encompassing monetary policy strategy review," SAFE White Paper Series 68, Leibniz Institute for Financial Research SAFE.
    18. Blyth, Mark, 2013. "Austerity: The History of a Dangerous Idea," OUP Catalogue, Oxford University Press, number 9780199828302.
    Full references (including those not matched with items on IDEAS)

    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. Radu SIMANDAN, 2020. "A gentle sceptic: Martin Feldstein and the euro," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 11, pages 378-395, December.
    2. Kleczka, Mitja, 2015. "Monetary Policy, Fiscal Policy, and Secular Stagnation at the Zero Lower Bound. A View on the Eurozone," MPRA Paper 67228, University Library of Munich, Germany.
    3. Hartwell Christopher A., 2019. "Complexity, Uncertainty, and Monetary Policy: Can the ECB Avoid the Unconventional Becoming the ‘New Normal’?," The Economists' Voice, De Gruyter, vol. 16(1), pages 1-13, December.
    4. Issing, Otmar, 2018. "Stabiles Geld - eine Illusion? Alternative Währungssysteme - Hayeks Fundamentalkritik - Unabhängigkeit der Notenbanken," SAFE White Paper Series 52, Leibniz Institute for Financial Research SAFE.
    5. Chen, Ting-Hsuan & Shen, Chung-Hua & Wu, Meng-Wen & Huang, Kuo-Jui, 2021. "Effect of shadow banking on the relation between capital and liquidity creation," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 166-184.
    6. Stefan Laséen & Andrea Pescatori, 2020. "Financial stability and interest‐rate policy: A quantitative assessment of costs and benefit," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 53(3), pages 1246-1273, August.
    7. repec:hal:spmain:info:hdl:2441/1j4v8sl4fc9a49ankmnhv6bb6a is not listed on IDEAS
    8. Kapoor, Supriya & Peia, Oana, 2021. "The impact of quantitative easing on liquidity creation," Journal of Banking & Finance, Elsevier, vol. 122(C).
    9. Chiara Perillo & Stefano Battiston, 2020. "Financialization and unconventional monetary policy: a financial-network analysis," Journal of Evolutionary Economics, Springer, vol. 30(5), pages 1385-1428, November.
    10. repec:hal:spmain:info:hdl:2441/74362fq3f99s299n07e84dlcib is not listed on IDEAS
    11. Bruno Albuquerque, 2019. "One Size Fits All? Monetary Policy and Asymmetric Household Debt Cycles in U.S. States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(5), pages 1309-1353, August.
    12. Florin Bilbiie & Xavier Ragot, 2021. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 71-95, July.
    13. Zsolt Darvas & David Pichler, 2018. "Excess liquidity and bank lending risks in the euro area," Policy Contributions 27593, Bruegel.
    14. Schüler, Yves S. & Hiebert, Paul P. & Peltonen, Tuomas A., 2020. "Financial cycles: Characterisation and real-time measurement," Journal of International Money and Finance, Elsevier, vol. 100(C).
    15. Cerutti, Eugenio M. & Obstfeld, Maurice & Zhou, Haonan, 2021. "Covered interest parity deviations: Macrofinancial determinants," Journal of International Economics, Elsevier, vol. 130(C).
    16. Zsolt Darvas, 2018. "Forecast errors and monetary policy normalisation in the euro area," Policy Contributions 28816, Bruegel.
    17. Chung‐Hua Shen & Hsing‐Hua Hsu, 2022. "The determinants of Asian banking crises—Application of the panel threshold logit model," International Review of Finance, International Review of Finance Ltd., vol. 22(1), pages 248-277, March.
    18. Cahn, Christophe & Duquerroy, Anne & Mullins, William, 2017. "Unconventional Monetary Policy and Bank Lending Relationships," SocArXiv vgk25, Center for Open Science.
    19. Andreas Beyer & Benoît Coeuré & Caterina Mendicino, 2017. "Foreword – The crisis, ten years after: Lessons learnt for monetary and financial research," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 494-495-4, pages 45-64.
    20. Oyakhilome Ibhagui, 2021. "Inflation differential as a driver of cross-currency basis swap spreads," The European Journal of Finance, Taylor & Francis Journals, vol. 27(6), pages 510-536, April.
    21. Valeria Venturelli & Andrea Landi & Riccardo Ferretti & Stefano Cosma & Elisabetta Gualandri, 2021. "How does the financial market evaluate business models? Evidence from European banks," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 50(2), July.

    More about this item

    JEL classification:

    • B17 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - International Trade and Finance
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • F15 - International Economics - - Trade - - - Economic Integration
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

    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:ksa:szemle:1923. 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: Odon Sok (email available below). General contact details of provider: http://www.kszemle.hu .

    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.