Das Zahlungsverkehrssystem TARGET2 aus zahlungsbilanztheoretischer Sicht

This article deals with the macro-economics of the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2). It is shown that TARGET2 contrib-utes to a misallocation of real resources. The discussion high-lights that there are no tendencies for rebalancing TARGET2 claims and liabilities, but rather a dynamic towards infinite and prolonged TARGET2 imbalances in the form of hysteresis.

MoreLess

Year of publication:	2012
Authors:	Fahrholz, Christian
Publisher:	Jena und Halle (Saale) : Graduiertenkolleg 'Konstitutionelle Grundlagen globalisierter Finanzmärkte - Stabilität und Wandel'
Subject:	Internationaler Zahlungsverkehr \| Clearing \| Außenwirtschaftliches Gleichgewicht \| Theorie \| Eurozone \| TARGET2 \| ESZB \| Eurosystem \| Zahlungsbilanzkrise \| Nettokapitalexport

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Series:	Working Papers on Global Financial Markets ; 28
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	German
Other identifiers:	714978019 [GVK] hdl:10419/94475 [Handle] RePEc:hlj:hljwrp:28-2012 [RePEc]
Classification:	E02 - Institutions and the Macroeconomy ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E44 - Financial Markets and the Macroeconomy ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization ; H63 - Debt; Debt Management
Source:	EconStor

Persistent link: https://www.econbiz.de/10010334480