Menu Expand

Cite JOURNAL ARTICLE

Style

Freytag, A., Schnabl, G. Monetary Policy Crisis Management as a Threat to Economic Order. Credit and Capital Markets – Kredit und Kapital, 50(2), 151-169. https://doi.org/10.3790/ccm.50.2.151
Freytag, Andreas and Schnabl, Gunther "Monetary Policy Crisis Management as a Threat to Economic Order" Credit and Capital Markets – Kredit und Kapital 50.2, 2017, 151-169. https://doi.org/10.3790/ccm.50.2.151
Freytag, Andreas/Schnabl, Gunther (2017): Monetary Policy Crisis Management as a Threat to Economic Order, in: Credit and Capital Markets – Kredit und Kapital, vol. 50, iss. 2, 151-169, [online] https://doi.org/10.3790/ccm.50.2.151

Format

Monetary Policy Crisis Management as a Threat to Economic Order

Freytag, Andreas | Schnabl, Gunther

Credit and Capital Markets – Kredit und Kapital, Vol. 50 (2017), Iss. 2 : pp. 151–169

9 Citations (CrossRef)

Additional Information

Article Details

Author Details

Andreas Freytag, Friedrich-Schiller-University Jena / Stellenbosch University, CESifo Research Network

Gunther Schnabl, University of Leipzig, CESifo Research Network

Cited By

  1. Seventy‐five years West German currency reform: Crisis as catalyst for the erosion of the market order

    Schnabl, Gunther

    Kyklos, Vol. 77 (2024), Iss. 1 P.77

    https://doi.org/10.1111/kykl.12359 [Citations: 0]
  2. The Brexit as a Forerunner: Monetary Policy, Economic Order and Divergence Forces in the European Union

    Schnabl, Gunther | Müller, Sebastian

    The Economists’ Voice, Vol. 16 (2019), Iss. 1

    https://doi.org/10.1515/ev-2019-0029 [Citations: 2]
  3. Banking and Monetary Policy from the Perspective of Austrian Economics

    The Failure of ECB Monetary Policy from a Mises-Hayek Perspective

    Schnabl, Gunther

    2018

    https://doi.org/10.1007/978-3-319-75817-6_7 [Citations: 10]
  4. Monetary Policy, Privileges and Economic Development: Ordoliberal Lessons for the EMU

    Duarte, Pablo

    ORDO, Vol. 69 (2018), Iss. 1 P.135

    https://doi.org/10.1515/ordo-2019-0010 [Citations: 1]
  5. Soziale Marktwirtschaft damals und heute

    Schnabl, Gunther

    Zeitschrift für Wirtschaftspolitik, Vol. 69 (2020), Iss. 1 P.1

    https://doi.org/10.1515/zfwp-2019-2019 [Citations: 0]
  6. Europäische Geldpolitik Und Zombiefizierung (European Monetary Policy and Zombification)

    Herok, David J. | Schnabl, Gunther

    SSRN Electronic Journal , Vol. (2018), Iss.

    https://doi.org/10.2139/ssrn.3193917 [Citations: 0]
  7. Target-Falle oder Empörungsfalle?

    Hellwig, Martin

    Perspektiven der Wirtschaftspolitik, Vol. 19 (2019), Iss. 4 P.345

    https://doi.org/10.1515/pwp-2019-0002 [Citations: 17]
  8. THE IMPACT OF MONETARY SHOCKS ON INFLATION IN SELECTED WEST ASIAN COUNTRIES

    SAADATMEHR, Masoud

    Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, Vol. (2023), Iss. 65 P.73

    https://doi.org/10.18070/erciyesiibd.1252958 [Citations: 0]
  9. Die Europäischen Wirtschafts- und Währungsunion im Lichte der deutschen Währungs- und Wirtschaftsreform des Jahres 1948 (The European Economic and Monetary Union in the Light of the 1948 German Currency and Economic Reform)

    Schnabl, Gunther

    SSRN Electronic Journal , Vol. (2018), Iss.

    https://doi.org/10.2139/ssrn.3251401 [Citations: 1]

Abstract

The paper analyses the effects of monetary policy crisis management of the European Central Bank on the economic order of Germany. It is argued that in post-war Europe the German social market economy as designed by Eucken (1952) and Müller-Armack (1966) has been a core element of growth, welfare, social cohesion and political stability in Germany and Europe as a whole. It is shown that the monetary policy rescue measures of the European Central Bank have undermined the constitutive principles of the German social market economy, which has considerably contributed to the erosion of (productivity) growth and welfare in Germany and Europe. As the outcome is crumbling social cohesion and growing political instability, a timely exit from ultra-expansionary monetary policy is postulated.