{"id":112372,"date":"2024-01-22T17:35:00","date_gmt":"2024-01-22T16:35:00","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/112372\/"},"modified":"2024-11-07T04:03:58","modified_gmt":"2024-11-07T03:03:58","slug":"10-jahre-wwu-erfolge-schwaechen-und-herausforderungen-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/112372\/","title":{"rendered":"Ten Years of EMU \u2013 Achievements, Drawbacks and Challenges"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-112372","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The assessment of ten years of EMU remains ambivalent. On the one hand the euro has contributed to price stabilisation and established itself as the world's second reserve currency besides the dollar. Its introduction has also benefited intra euro area trade. On the other hand the expected growth bonus has not yet materialised. Economic growth has been more restrained in the euro area than in countries that are not part of the euro currency area. Despite the complicated and asymmetrical economic policy design of the EMU the institutions have cooperated well and swiftly during the international financial crisis and have tried to cushion the damage to the financial sector and economic growth by coordinating their efforts. For some countries outside the euro area the common currency has gained attractiveness during the crisis. Nevertheless the EMU is facing major challenges. On the one hand the euro area is to be enlarged to include a maximum of the 27 EU countries. On the other hand the significant divergence of the euro area countries' competitiveness raises doubts about the cohesion of the EMU. To improve the effectiveness of a common monetary policy further progress towards a common European business cycle is essential.","onlinedate":"2009-01-19 01:00:00","lang":"German","publication_series":"","publication_date":"20090101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"W\u00e4hrungsunion Euro-Raum Gemeinsame W\u00e4hrung Gesamtwirtschaftliche Effekte\"]","jelcodes":"[]","related_publications":"[]","pdf":332467,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"82","monthly_report_pages":"61-84","monthly_report_pages_sort":"61","issue":"1","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3500],"collaboration":"","persons":[3917],"persons_data":"[{\"personId\":3917,\"personName\":\"Fritz Breuss\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Breuss, F.<\\\/span> (2009). <span>10 Jahre WWU \u2013 Erfolge, Schw\u00e4chen und Herausforderungen<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>82<\\\/em>(1), 61-84. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/34864\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/34864<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Breuss F<\\\/span>. <span class=\\\"title\\\"><span>10 Jahre WWU \u2013 Erfolge, Schw\u00e4chen und Herausforderungen<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 2009 Jan;82(1):61-84.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{e47e2cd1f2f5495f97f7e3dd4f62fa83,<\\\/div><div>  title    = \\\"10 Jahre WWU \u2013 Erfolge, Schw{\\\\\\\"a}chen und Herausforderungen\\\",<\\\/div><div>  abstract = \\\"Die Bilanz {\\\\\\\"u}ber 10 Jahre WWU ist ambivalent. Zum einen trug die Einf{\\\\\\\"u}hrung der gemeinsamen W{\\\\\\\"a}hrung zur Preisstabilisierung bei, der Euro etablierte sich neben dem Dollar als zweite Weltw{\\\\\\\"a}hrung. Die WWU beg{\\\\\\\"u}nstigte auch den Handel innerhalb des Euro-Raums. Zum anderen blieb der erwartete Wachstumsbonus bisher aus. Trotz der komplizierten, asymmetrischen wirtschaftspolitischen Architektur der WWU haben die Institutionen w{\\\\\\\"a}hrend der internationalen Finanzkrise gut und rasch zusammengearbeitet und versucht, durch ein m{\\\\\\\"o}glichst koordiniertes Vorgehen den Schaden f{\\\\\\\"u}r den Finanzsektor und die Konjunktur abzufedern.\\\",<\\\/div><div>  keywords = \\\"W{\\\\\\\"a}hrungsunion Euro-Raum Gemeinsame W{\\\\\\\"a}hrung Gesamtwirtschaftliche Effekte, W{\\\\\\\"a}hrungsunion Euro-Raum Gemeinsame W{\\\\\\\"a}hrung Gesamtwirtschaftliche Effekte\\\",<\\\/div><div>  author   = \\\"Fritz Breuss\\\",<\\\/div><div>  note     = \\\"10 Jahre WWU\\\",<\\\/div><div>  year     = \\\"2009\\\",<\\\/div><div>  month    = jan,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"82\\\",<\\\/div><div>  pages    = \\\"61--84\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - 10 Jahre WWU \u2013 Erfolge, Schw\u00e4chen und Herausforderungen<\\\/p><p>AU  - Breuss, Fritz<\\\/p><p>N1  - 10 Jahre WWU<\\\/p><p>PY  - 2009\\\/1<\\\/p><p>Y1  - 2009\\\/1<\\\/p><p>N2  - Die Bilanz \u00fcber 10 Jahre WWU ist ambivalent. Zum einen trug die Einf\u00fchrung der gemeinsamen W\u00e4hrung zur Preisstabilisierung bei, der Euro etablierte sich neben dem Dollar als zweite Weltw\u00e4hrung. Die WWU beg\u00fcnstigte auch den Handel innerhalb des Euro-Raums. Zum anderen blieb der erwartete Wachstumsbonus bisher aus. Trotz der komplizierten, asymmetrischen wirtschaftspolitischen Architektur der WWU haben die Institutionen w\u00e4hrend der internationalen Finanzkrise gut und rasch zusammengearbeitet und versucht, durch ein m\u00f6glichst koordiniertes Vorgehen den Schaden f\u00fcr den Finanzsektor und die Konjunktur abzufedern.<\\\/p><p>AB  - Die Bilanz \u00fcber 10 Jahre WWU ist ambivalent. Zum einen trug die Einf\u00fchrung der gemeinsamen W\u00e4hrung zur Preisstabilisierung bei, der Euro etablierte sich neben dem Dollar als zweite Weltw\u00e4hrung. Die WWU beg\u00fcnstigte auch den Handel innerhalb des Euro-Raums. Zum anderen blieb der erwartete Wachstumsbonus bisher aus. Trotz der komplizierten, asymmetrischen wirtschaftspolitischen Architektur der WWU haben die Institutionen w\u00e4hrend der internationalen Finanzkrise gut und rasch zusammengearbeitet und versucht, durch ein m\u00f6glichst koordiniertes Vorgehen den Schaden f\u00fcr den Finanzsektor und die Konjunktur abzufedern.<\\\/p><p>KW  - W\u00e4hrungsunion Euro-Raum Gemeinsame W\u00e4hrung Gesamtwirtschaftliche Effekte<\\\/p><p>KW  - W\u00e4hrungsunion Euro-Raum Gemeinsame W\u00e4hrung Gesamtwirtschaftliche Effekte<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 82<\\\/p><p>SP  - 61<\\\/p><p>EP  - 84<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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