Monetäre Ursachen der Arbeitslosigkeit in Currency Board-Systemen?

Arbeitspapier

The rule bounded currency board-system is a contribution to a process of convergence between the price level of the currency board-country and the anchor currency-country. However this strategy includes the risk of an inadequate provision with liquidity in the currency board-country. In the long run this corresponds to the risk of increasing the structural unemployment. Keeping up the currency board-principle of a sufficient reserve backing, the orientation of the monetary expansion to the inevitable inflation rate may reduce this risk. However it also raises the risk of a reduced credibility concerning monetary policy and price level stability. In conclusion there exists a trade-off between the credib ility of monetary discipline and therefore price level stability, and the monetary flexibility and employment and therefore the credibility of keeping up the currency board-system in the long run.

Object Details

• Language: Deutsch

References and Relationships

• Bibliographic citation: Series: Wirtschaftswissenschaftliche Diskussionspapiere ; No. 02/2002

Classification and Topics

• Classification: Wirtschaft
• Subject: Currency Board ; Inflationsbekämpfung ; Beschäftigungseffekt ; Arbeitslosigkeit ; Theorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Janssen, Ole ; Rohde, Armin
• Event: Veröffentlichung
• (who): Universität Greifswald, Rechts- und Staatswissenschaftliche Fakultät
• (where): Greifswald
• (when): 2002

Further information

• Handle: http://hdl.handle.net/10419/48896
• Last update: 10.03.2025, 11:42 AM CET