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German Monetary Union, the Bundesbank and the EMS collapse

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  • C. HEFEKER

    (University of Konstanz)

Abstract

The recent collapse of the European Monetary System (EMS) is a setback in the move towards European economic and monetary union (EMU). Two major causes have been identified for one crisis in the EMS in September 1992 and its subsequent collapse on 2 August 1993: German reunification and the effects of the Maastricht Treaty. The active role of the German Bundesbank in the collapse of the EMS is examined.

Suggested Citation

  • C. Hefeker, 1994. "German Monetary Union, the Bundesbank and the EMS collapse," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 47(191), pages 379-398.
    • Handle: RePEc:psl:bnlaqr:1994:42
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10533/10418
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    References listed on IDEAS

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    Cited by:

    1. Gruner, Hans Peter, 1997. "A Comparison of Three Institutions for Monetary Policy When Central Bankers Have Private Objectives," Public Choice, Springer, vol. 92(1-2), pages 127-143, July.
    2. Peter Nedergaard & Holly Snaith, 2015. "‘As I Drifted on a River I Could Not Control’: The Unintended Ordoliberal Consequences of the Eurozone Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 53(5), pages 1094-1109, September.
    3. Jörg Bibow, 2019. "20 years of the German euro are more than enough," Revista de Economia Critica, Asociacion de Economia Critica, vol. 27, pages 32-46.
    4. Hefeker, Carsten, 1995. "The political choice and collapse of fixed exchange rates," Discussion Papers, Series II 277, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    5. Frederic S. Mishkin & Adam S. Posen, 1997. "Inflation targeting: lessons from four countries," Economic Policy Review, Federal Reserve Bank of New York, vol. 3(Aug), pages 9-110.

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    More about this item

    Keywords

    EMS; EMU; German reunification; Bundesbank;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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