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Auswirkungen der Finanz- und Immobilienkrise auf die Realwirtschaft

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  • Marcus Scheiblecker

Abstract

Seit dem Platzen der Spekulationsblase auf dem Immobilienmarkt der USA verfielen die Hauspreise um 20%. Dadurch verringerte sich die Besicherungsgrundlage von Hypothekardarlehen und immobilienbesicherten Wertpapieren. Dies löste in den USA eine Finanzkrise aus, und auch europäische Banken erlitten große Verluste. Während die Finanzkrise die Realwirtschaft Europas direkt nur begrenzt beeinträchtigt, dürfte die damit einhergehende Verschlechterung der Konjunktur in den USA das heimische Wirtschaftswachstum stärker bremsen. Die negativen Effekte können sich über mehrere Kanäle übertragen. Zusätzlich wirken die Dollarschwäche und die starke Verteuerung von Rohstoffen und Agrarprodukten wachstumsdämpfend. Einzelne Länder, etwa Spanien, Irland und Großbritannien, werden überdurchschnittlich betroffen sein.

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  • Marcus Scheiblecker, 2008. "Auswirkungen der Finanz- und Immobilienkrise auf die Realwirtschaft," WIFO Monatsberichte (monthly reports), WIFO, vol. 81(8), pages 577-591, August.
    • Handle: RePEc:wfo:monber:y:2008:i:8:p:577-591
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    References listed on IDEAS

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    2. Fritz Breuss, 2009. "Lacking "Europeanisation" of National Business Cycles as a Risk for the Euro Area," Austrian Economic Quarterly, WIFO, vol. 14(2), pages 91-104, June.

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