Fundamentals of Austria's Hard Currency Policy: Monetary Stabilization, Phillips Curve, Uncertainty (Grundlagen der Österreichischen Hartwährungspolitik: Geldwertstabilisierung, Phillipskurve, Unsicherheit)

Grundlagen der österreichischen Hartwährungspolitik: Geldwertstabilisierung, Phillipskurve, Unsicherheit. Manz-Verlag, Vienna, 1989

Posted: 22 Jun 2018 Last revised: 13 Jul 2020

See all articles by Heinz Handler

Heinz Handler

Austrian Institute of Economic Research (WIFO); Vienna University of Technology - Institute of Statistics and Mathematical Methods in Economics, Research Group Economics (ECON); Austrian Federal Chancellery - Verwaltungsakademie des Bundes

Date Written: 1989

Abstract

This habilitation thesis is concerned with the short- to medium-term goals of Austria' hard currency policy prior to joining the euro area. Stabilization policies at the time attempted to keep the exchange rate of the schilling constant vis-a-vis the German mark, thereby importing price stability. To grasp the manifold feedback effects between exhange rates, prices and the real sector, causality test were employed. Empirical analyses revealed that the Austrian Phillips curve was vertical over extended periods in the 1970s and 1980s.

Keywords: Austria, monetary policy, exchange rate policy, stabilization policy, Phillips curve, uncertainty

JEL Classification: E52, E63, F31, N41

Suggested Citation

Handler, Heinz J., Fundamentals of Austria's Hard Currency Policy: Monetary Stabilization, Phillips Curve, Uncertainty (Grundlagen der Österreichischen Hartwährungspolitik: Geldwertstabilisierung, Phillipskurve, Unsicherheit) (1989). Grundlagen der österreichischen Hartwährungspolitik: Geldwertstabilisierung, Phillipskurve, Unsicherheit. Manz-Verlag, Vienna, 1989, Available at SSRN: https://ssrn.com/abstract=3189724

Heinz J. Handler (Contact Author)

Austrian Institute of Economic Research (WIFO) ( email )

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HOME PAGE: http://www.wifo.ac.at

Vienna University of Technology - Institute of Statistics and Mathematical Methods in Economics, Research Group Economics (ECON) ( email )

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HOME PAGE: http://www.econ.tuwien.ac.at

Austrian Federal Chancellery - Verwaltungsakademie des Bundes ( email )

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Vienna, A-1140
Austria

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