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Deutschlands Gewinne und Verluste bei Devisenmarktinterventionen im System von Bretton Woods: Eine empirische Analyse

Deutschlands Gewinne und Verluste bei Devisenmarktinterventionen im System von Bretton Woods: Eine empirische Analyse

          
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About the Book

Bachelorarbeit aus dem Jahr 2013 im Fachbereich VWL - Internationale Wirtschaftsbeziehungen, Note: 1,0, Universität Bayreuth, Sprache: Deutsch, Abstract: Chinas enormer Umfang an Devisenreserven ist seit geraumer Zeit Gegenstand wissenschaftlicher Diskussionen. Mit der faktischen Kopplung des Renminbi an den US-Dollar von 1994 bis 2005 sollte der Wechselkurs der chinesischen Währung möglichst niedrig gehalten werden, um so die Wettbewerbsfähigkeit Chinas weiter zu stärken. Die hohen USD-Reserven bergen jedoch auch Risiken, wie z. B. einen Bewertungsverlust der USD-Reserven bei einer Abwertung des USD bzw. Aufwertung des RMB. Die Bundesrepublik Deutschland befand sich nach Ende des zweiten Weltkrieges in einer ähnlichen Situation wie das heutige China. Im System von Bretton Woods war die D-Mark - ähnlich wie der RMB - an den USD gekoppelt und stand ebenso unter fast permanentem Aufwertungsdruck. Die volkswirtschaftliche Zahlungsbilanz der BRD wies damals - wie heute auch China - fast kontinuierlich Leistungsbilanzüberschüsse auf. Die Devisenpolitik der BRD im System von Bretton Woods ist Gegenstand dieser Arbeit. Ein Großteil der Literatur zur Devisenpolitik der Bundesbank im Bretton Woods System stammt aus der zweiten Hälfte der 1950er und v.a. der 1960er Jahre, konnte damals jedoch aufgrund der 30-jährigen Sperrfrist nicht auf Dokumente des Historischen Archivs der Bundesbank zurückgreifen. Mit der Auswertung solcher einst nicht für wissenschaftliche Untersuchungen verfügbaren Dokumente sollen folgende drei Forschungsfragen (neu) zu beantwortet werden: 1. Nach welchen Kriterien wurden die Gold- und Devisenbilanzpositionen der Bundesbank zwischen 1957 und 1975 bewertet? 2. Inwiefern führten die Devisenmarktinterventionen der Bundesbank zwischen 1957 und 1975 zu Bewertungsgewinnen bzw. -verlusten der Gold- und Devisenreserven der Bundesbank? 3. Wie hat sich der Wert des Gold- und Devisenbestandes ab 01/1976 bis 12/2012 im Vergleich zu anderen Anlageformen entwickel


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Product Details
  • ISBN-13: 9783668419100
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 52
  • Spine Width: 3 mm
  • Weight: 82 gr
  • ISBN-10: 3668419108
  • Publisher Date: 11 Apr 2017
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Sub Title: Eine empirische Analyse
  • Width: 148 mm


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