文章基本信息

标题：German monetary and economic unification: are financial markets asking the right questions?
本地全文：下载
作者：J.A. KREGEL
期刊名称：PSL Quarterly Review
印刷版ISSN：2037-3643
出版年度：2013
卷号：43
期号：174
语种：English
出版社：Economia civile
摘要：If stock markets evaluate the future prospects of the real economy, then the stock markets believe that German reunification has caused a marked deterioration in the prospects for the German people. The markets seem to have interpreted the terms of German monetary union as being inflationary. The author argues that the market apparently assumes that the east Germans have no valuable productive capacity and that they will spend all of their newly acquired marks in the West; this must be substantively wrong, and so must the assumption that a strong inflationary surge is inevitable.
关键词：German reunification, Financial markets