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Germany is often criticized for its large current account surpluses. The surpluses are caused by differences in economic growth between Germany and its major trading partners, the innovative strength of German enterprises, as well as improved relative price competitiveness and a successful...
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Macroeconomic imbalances in the EMU are at the heart of the current crisis. A widely popular explanation for the high current account deficits in the Southern European countries is that they lack a large, competitive and export-oriented industrial sector. The paper tests the hypothesis that...
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Die Debatte über Leistungsbilanzungleichgewichte in der Eurozone mündete im November 2013 in ein Prüfverfahren der EU …-Kommission gegen Deutschland. Das Ergebnis lautet, dass der anhaltend hohe Überschuss in der deutschen Leistungsbilanz das … Funktionieren der Eurozone gefährde. Anton Konrad zeigt auf, dass der amerikanische Nationalökonom Charles P. Kindleberger bereits …
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In der Diskussion über globale Ungleichgewichte spielen die Länder der Eurozone bisher nicht die zentrale Rolle …. Während die Leistungsbilanz für die gesamte Währungsunion ausgeglichen ist, sind die Ungleichgewichte zwischen den …
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In the debate on global imbalances, the euro area countries did not receive much attention so far. While the current account is on balance for the entire area, divergences between individual member states have increased since the introduction of the common currency. In this paper, the imbalances...
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