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Zinswende in den USA — Fluch oder Segen für die Konjunktur im Euroraum?

Author

Listed:
  • Svetlana Rujin
  • Torsten Schmidt

Abstract

While the U.S. and the U.K. are likely to experience an interest rate turnaround in the near future, monetary conditions in the euro area will remain highly accommodative for a long time. The qualitative and quantitative effects of diverging monetary positions between major central banks are expected to have highly heterogeneous effects across the euro area. Thus, the reassessment of international monetary policy transmission mechanism seems relevant and timely. Simulations with the RWI-Multi Country Model quantify the effects of the interest rate hike in the U.S. and in the U.K. on domestic and eurozone economies along with the impact of the depreciation of the euro as a consequence of the recent ECB’s quantitative easing move. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Svetlana Rujin & Torsten Schmidt, 2015. "Zinswende in den USA — Fluch oder Segen für die Konjunktur im Euroraum?," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(3), pages 186-191, March.
    • Handle: RePEc:spr:wirtsc:v:95:y:2015:i:3:p:186-191
    DOI: 10.1007/s10273-015-1804-0
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    Citations

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    Cited by:

    1. Torsten Schmidt & Roland Döhrn & Daniela Grozea-Helmenstein & Philipp an de Meulen & Martin Micheli & Svetlana Rujin & Lina Zwick, 2015. "Die wirtschaftliche Entwicklung im Ausland: Weltkonjunktur weiter aufwärts gerichtet," RWI Konjunkturbericht, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, pages 38, 03.
    2. Schmidt, Torsten & Döhrn, Roland & Grozea-Helmenstein, Daniela & an de Meulen, Philipp & Micheli, Martin & Rujin, Svetlana & Zwick, Lina, 2015. "Die wirtschaftliche Entwicklung im Ausland: Weiterhin schwaches Tempo der weltwirtschaftlichen Expansion," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 66(3), pages 5-37.
    3. Schmidt, Torsten & Döhrn, Roland & Grozea-Helmenstein, Daniela & an de Meulen, Philipp & Micheli, Martin & Rujin, Svetlana & Zwick, Lina, 2015. "Die wirtschaftliche Entwicklung im Ausland: Weltkonjunktur weiter aufwärts gerichtet," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 66(1), pages 5-42.
    4. Döhrn, Roland & Rujin, Svetlana, 2017. "Unsicherheit über Brexit-Modalitäten prägt Konjunktur in Großbritannien," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 68(3), pages 49-65.

    More about this item

    Keywords

    C53; E52; F47;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications

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