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dc.contributor.authorSpahn, Peteren_US
dc.date.accessioned2012-10-18en_US
dc.date.accessioned2012-10-19T13:54:06Z-
dc.date.available2012-10-19T13:54:06Z-
dc.date.issued2012en_US
dc.identifier.piurn:nbn:de:bsz:100-opus-7698en_US
dc.identifier.urihttp://hdl.handle.net/10419/65378-
dc.language.isogeren_US
dc.publisherUniv. Hohenheim, Forschungszentrum Innovation und Dienstleistung Stuttgarten_US
dc.relation.ispartofseriesFZID Discussion Papers 57-2012en_US
dc.subject.jelE61en_US
dc.subject.jelE63en_US
dc.subject.jelE65en_US
dc.subject.jelF02en_US
dc.subject.ddc330en_US
dc.subject.keywordoptimal currency unionen_US
dc.subject.keywordintegrationen_US
dc.subject.keywordintertemporal balance of paymentsen_US
dc.subject.keywordWalters critiqueen_US
dc.subject.keywordLawson doctrineen_US
dc.titleIntegration durch Währungsunion? Der Fall der Euro-Zoneen_US
dc.typeWorking Paperen_US
dc.identifier.ppn72785853Xen_US
dc.description.abstracttransOld OCA theory recommends to unite homogenous countries so that their macroeconomic interrelations do not pose severe stabilisation problems. New OCA theory rightly criticizes the 1960s flavour of the old approach and believes in the endogenous emergence of an OCA if countries use the facilities of an integrated financial market for their catching-up. Whereas in theories of intertemporal optimisation single agents and national economies succeed to go from indebtedness to development, in EMU they were tempted live beyond their intertemporal budget constraint. Professional observers tended to tolerate high current account deficits and loss of competitiveness as temporary phenomena by relying on the Lawson Doctrine. Actually, some EMU countries could avoid insolvency only by monetising their balance of payment deficit.en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:fziddp:572012-
Appears in Collections:FZID Discussion Papers, Universität Hohenheim

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