价格趋异、竞争力分化与外部失衡——欧元区一体化的机制障碍与现实困境  

Price Divergence,Competitiveness Differentiation and External Imbalance:Institutional Barriers and Practical Dilemmas of the Integration of the Euro Area

作　　者：原磊[1] 邹宗森 Yuan Lei;Zou Zongsen

机构地区：[1]中国社会科学院工业经济研究所 [2]青岛理工大学商学院 [3]山东大学经济学院

出　　处：《中国社会科学院研究生院学报》2018年第2期58-69,共12页Journal of Graduate School of Chinese Academy of Social Sciences

基　　金：国家社会科学基金一般项目"汇率不对称变动;异质性传导与中国对外贸易结构演进研究"(16BJL087)的阶段性成果

摘　　要：欧洲央行货币政策的首要目标是维持区内价格稳定,然而理论模型揭示,欧洲央行的货币政策无法阻止成员国之间的价格趋异现象。在统一的名义汇率下,各成员国面临的实际需求和生产成本存在差异,这导致其通胀率水平产生差异,而价格趋异使各成员国的实际有效汇率水平产生差异,在一定程度上使其国际竞争力产生分化,导致外部失衡。针对相关经济数据和指标的分析,证实了上述推断。各成员国间价格水平和国际竞争力的持续差异以及过度外部失衡,会对欧元区的稳定产生威胁。欧元区应高度重视其成员国的这种差异性,近期应进一步加强经济政策协调,妥善处理和化解成员国矛盾;长期则应着眼于改善成员国的竞争力,完善和创新制度设计,统一财政政策,建立成员国转移支付机制,深入推进一体化进程。The primary objective of monetary policy of ECB is to maintain price stability in the euro area,however the theoretical model reveals that the ECB cannot prevent price divergence among member states.Despite of common nominal exchange rate in the euro area,member states face different real effective exchange rate for reason of price divergence,which causes competitiveness divergence and leads to external imbalance to a certain extent.The above inference is confirmed by analysis of the relevant economic indicators.Persistent price and international competitiveness divergence among member states,as well as excessive external imbalances would pose threat to the stability of the euro area.More attention should be taken to such divergence in the euro area.Recent measures should be taken to further strengthen economic policy coordination,properly handle and resolve conflicts among member states.Long-term solution should be aimed at improving the competitiveness of member states,innovating system design,unifying fiscal policy,and establishing member states transfer payment mechanism,so as to deeply promote the integration process.

关 键 词：欧元区 价格趋异 竞争力分化 外部失衡 

分 类 号：F825[经济管理—财政学]