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Wie sich die Geldpolitik auf Vermögenspreise auswirkt

Wie sich die Geldpolitik auf Vermögenspreise auswirkt
Florian Kern
Dezernat Zukunft, 2021
Level: advanced
Perspectives: Institutionalist Economics, Post-Keynesian Economics
Topic: Institutions, Governments & Policy, Macroeconomics, Microeconomics & Markets, Money & Debt
Format: Policy Paper & Advocacy
Duration: 10-13mins
Link: https://dezernatzukunft.org/finanzmaerkte-sind-keine-luftballons-wie-sich-die-geldpolitik-auf-vermoegenspreise-auswirkt/

Wie beeinflusst die Zentralbank Vermögenswerte? Wo fließt Zentralbankgeld hin und warum kann es nicht direkt in Finanz- oder Immobilienmärkte fließen? In diesem Erklärtext geht es 1. um den Zusammenhang von Geldpolitik (der Zentralbank) und Vermögenspreisen, und 2. um Zentralbankgeld und wo es hinfließen kann und wohin nicht.

Kommentar von unseren Editor*innen:

Inflation und Geldpolitk sind heiß diskutiert. Oft ist diese Diskussion durch Angst und Missinformationen angeheizt. Insbesondere wird den Zentralbanken vorgeworfen, dass sie durch Geldmengenerhöhung Inflationsgefahren heraufbeschwören. Seit vielen Jahren wenden Zentralbanken weltweit "unkonventionelle Geldpolitik" an. In vielen der letzten Krisen, wie auch in der jetzigen Corona Krise, stabilisieren sie so die Wirtschaft. Eine dieser unkonventionellen Methoden, Anleihekäufe, ist in ihrer Wirkungsweise komplexer als es oftmals dargestellt wird. Deswegen ist dieser Text ein wichtiger Beitrag für Grundlagenwissen zu moderner Geldpolitk. Der Text nutzt dabei hilfreiche Beispiele und bleibt komprimiert. Weiterführende Quellen sind in den Fußnoten angegeben.

Gehe zu: Wie sich die Geldpolitik auf Vermögenspreise auswirkt

This material has been suggested and edited by:

Jorim Gerrard
Schlagwörter: central banking | endogenous money | Endogenous money and monetary policy | fiat money | financialization | markets | monetary policy
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