Chen, Ruo; Milesi-Ferretti, Gian-Maria; Tressel, Thierry - International Monetary Fund (IMF) - 2012
The paper examines the extent to which current account imbalances of euro area countries are related to intra-euro area … balance of euro area debtor countries. While current account imbalances of euro area deficit countries vis-à-vis the rest of … the world increased, they were financed mostly by intra-euro area capital inflows (in particular by the purchase of …