Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/65378 
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dc.contributor.authorSpahn, Peteren
dc.date.accessioned2012-10-18-
dc.date.accessioned2012-10-19T13:54:06Z-
dc.date.available2012-10-19T13:54:06Z-
dc.date.issued2012-
dc.identifier.piurn:nbn:de:bsz:100-opus-7698en
dc.identifier.urihttp://hdl.handle.net/10419/65378-
dc.language.isogeren
dc.publisher|aUniversität Hohenheim, Forschungszentrum Innovation und Dienstleistung (FZID) |cStuttgarten
dc.relation.ispartofseries|aFZID Discussion Paper |x57-2012en
dc.subject.jelE61en
dc.subject.jelE63en
dc.subject.jelE65en
dc.subject.jelF02en
dc.subject.ddc330en
dc.subject.keywordoptimal currency unionen
dc.subject.keywordintegrationen
dc.subject.keywordintertemporal balance of paymentsen
dc.subject.keywordWalters critiqueen
dc.subject.keywordLawson doctrineen
dc.titleIntegration durch Währungsunion? Der Fall der Euro-Zone-
dc.typeWorking Paperen
dc.identifier.ppn72785853Xen
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
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:fziddp:572012en

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