Gemeinschaftswährung mit Kaufkraftgarantie auf Kapitalbasis – Das Konzept eines kapitalfundierten Hart-Euro

Meyer Dirk ()
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Meyer Dirk: Institut für Volkswirtschaftslehre, Lehrstuhl für Ordnungsökonomik, Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Holstenhofweg 85, 22043 HamburgGermany, Tel.: (0)40–6541–2705

Zeitschrift für Wirtschaftspolitik, 2017, vol. 66, issue 2, 179-207

Abstract: Building on Irving Fisher's (1913) idea of a compensated gold dollar, this contribution deals with a capital-based common euro currency with guaranteed purchasing power, the capital-based hard euro (KHE). The concept first includes the functioning and the necessary stability conditions. In order to enable a preferably smooth transformation from the existing EURO currency to the new EURO currency system, the KHE is initially implemented as a parallel currency to the EURO. If it prevails in the competition of currencies, it would allow for a gradual transition to a positive money system without money creation by commercial banks. The conceptual sketch is not intended as a practical guide for a one-to-one implementation, it is rather meant to offer a suggestion for a conceptually new development of the EURO system.

Keywords: Euro; European currency union; fiat money; inflation protection; commodity money; positive money; Euro; Europäische Währungsunion; Fiatgeld; Inflationsschutz; Warengeld; Vollgeld; Euro; European currency union; fiat money; inflation protection; commodity money; positive money (search for similar items in EconPapers)
JEL-codes: E42 E58 (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1515/zfwp-2017-0008

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