haku: @journal_id 631 / yhteensä: 215
viite: 20 / 215
| Tekijä: | Lehment, H. |
| Otsikko: | Die Entwicklung von Preisen und gesamtwirtschaftlicher Nachfrage in der Eurozone: Eine Zwischenbilanz |
| Lehti: | Weltwirtschaft
2002 : 4, p. 355-361 |
| Asiasana: | ECONOMICS PRICES EUROPE GROSS NATIONAL PRODUCT |
| Kieli: | ger |
| Tiivistelmä: | In the period 1999-2002 the harmonized index of consumer prices increased by an average of 2.1 percent - slightly above the ECB's threshold - and nominal GDP expanded by an average of 4.0 percent, which was at the upper end of the ECB's implicit reference corridor. Thus, monetary policy has not been restrictive in the starting phase of EMU. At the same time, there have been substantial differences among member countries both with respect to nominal GDP-growth and inflation. Rates have been particularly high in the catching-up countries (Ireland, Greece, Portugal, Spain) and particularly low in Germany. The week expansion of nominal GDP in Germany (1.8 percentage points below the Eurozone average) cannot be attributed to a restrictive ECB policy or to a restrictive fiscal policy in Germany (original in German). |
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