Gadatsch, Niklas; Stähler, Nikolai; Weigert, Benjamin - 2015
imbalances in the Euro Area. Our simulations within a two-country monetary union DSGE model show that, in terms of German GDP … only minor. Most importantly, the rest of the Euro Area benefited from positive spillover effects. Hence, our analysis … suggests that the reforms cannot be held responsible for the currently observed macroeconomic imbalances within the Euro Area …