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Der Einfluss der EZB-Geldpolitik auf die Vermögensverteilung in Deutschland

Author

Listed:
  • Demary, Markus
  • Niehues, Judith
  • Stockhausen, Maximilian
  • Zdrzalek, Jonas

Abstract

Die expansive Geldpolitik der Europäischen Zentralbank seit 2011 hat zu keiner entscheidenden Veränderung der Vermögensverteilung in Deutschland geführt. Das geht aus einer Studie der Stiftung Familienunternehmen hervor, die das Institut der deutschen Wirtschaft (IW) verfasst hat. Anhand von Zahlen der Deutschen Bundesbank hat das Institut festgestellt, dass es in allen Vermögensklassen Gewinner und Verlierer gibt. Sollte die Niedrigzinsphase noch länger anhalten, könnten die ärmeren Haushalte allerdings wachsende Schwierigkeiten haben, Vermögen zu bilden. Beim Betriebsvermögen der reicheren Haushalte bewirkt der Niedrigzins Bewertungsgewinne, die nicht zu Konsumzwecken zur Verfügung stehen.

Suggested Citation

  • Demary, Markus & Niehues, Judith & Stockhausen, Maximilian & Zdrzalek, Jonas, 2021. "Der Einfluss der EZB-Geldpolitik auf die Vermögensverteilung in Deutschland," Studien, Stiftung Familienunternehmen / Foundation for Family Businesses, number 250019, March.
    • Handle: RePEc:zbw:sfustu:250019
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    References listed on IDEAS

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