Monetary Policy Crisis Management as a Threat to Economic Order
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Monetary Policy Crisis Management as a Threat to Economic Order
Freytag, Andreas | Schnabl, Gunther
Credit and Capital Markets – Kredit und Kapital, Vol. 50(2017), Iss. 2 : pp. 151–169 | First published online: October 03, 2017
9 Citations (CrossRef)
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Andreas Freytag, Friedrich-Schiller-University Jena / Stellenbosch University, CESifo Research Network
Gunther Schnabl, University of Leipzig, CESifo Research Network
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THE IMPACT OF MONETARY SHOCKS ON INFLATION IN SELECTED WEST ASIAN COUNTRIES
SAADATMEHR, Masoud
Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Vol. (2023), Iss. 65 P.73
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Die Europäischen Wirtschafts- und Währungsunion im Lichte der deutschen Währungs- und Wirtschaftsreform des Jahres 1948 (The European Economic and Monetary Union in the Light of the 1948 German Currency and Economic Reform)
Schnabl, Gunther
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Abstract
The paper analyses the effects of monetary policy crisis management of the European Central Bank on the economic order of Germany. It is argued that in post-war Europe the German social market economy as designed by Eucken (1952) and Müller-Armack (1966) has been a core element of growth, welfare, social cohesion and political stability in Germany and Europe as a whole. It is shown that the monetary policy rescue measures of the European Central Bank have undermined the constitutive principles of the German social market economy, which has considerably contributed to the erosion of (productivity) growth and welfare in Germany and Europe. As the outcome is crumbling social cohesion and growing political instability, a timely exit from ultra-expansionary monetary policy is postulated.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Andreas Freytag / Gunther Schnabl: Monetary Policy Crisis Management as a Threat to Economic Order | 1 |