Das Zahlungsverkehrssystem TARGET2 aus zahlungsbilanztheoretischer Sicht / Christian Fahrholz
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Das Zahlungsverkehrssystem TARGET2 aus zahlungsbilanztheoretischer Sicht
Discovery
714978019
URN
urn:nbn:de:gbv:3:2-63012
DOI
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Publication history
Jena / Halle : Univ., 2011
Content
Online-Ressource (PDF-Datei: 18 S., 0,31 MB) : graph. Darst.
Edition
Language
ger
Comment
Abstract
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.
Series
Global financial markets ; 28 ppn:598208976