Capital Flows in the Euro Area

We investigate the behaviour of gross capital flows and net capital flows for euro area member countries. We highlight the extraordinary boom-bust cycles in both gross flows and net flows since 2003. We also show that the reversal in net capital flows during the crisis has been very costly in terms of macroeconomic and financial outcomes for the high-deficit countries. Finally, we describe the reforms that can improve macro-financial stability across the euro area.

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Year of publication:	2013-05
Authors:	Lane, Philip R.
Institutions:	C.E.P.R. Discussion Papers
Subject:	capital flows \| euro \| imbalances

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 9493
Classification:	E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; F32 - Current Account Adjustment; Short-Term Capital Movements ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011084164