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Revisiting the Monetary Presentation of the Euro Area Balance of Payments

Aguilar, Carmen Picón - 2020

We explain how the external counterpart of the euro area M3 can be analysed by using the euro area balance of payments (b.o.p.). This is possible because the net external assets of the monetary financial institutions (MFIs) are present in two statistical frameworks that follow similar...

Persistent link: https://www.econbiz.de/10012841808

Revisiting the monetary presentation of the euro area balance of payments

Aguilar, Carmen Picón; Soares, Rodrigo Oliveira; … - 2020

Persistent link: https://www.econbiz.de/10012165260

Competitiveness and External Imbalances within the Euro Area

Dieppe, Alistair - 2013

The onset of the financial crisis in 2008 has highlighted the problems of diverging external imbalances within Economic and Monetary Union (EMU) and the role of persistent losses in competitiveness. This paper starts by investigating some of the competitiveness factors which contributed to...

Persistent link: https://www.econbiz.de/10013089688

Financialisation, debt and inequality : scenarios based on a stock flow consistent model

Detzer, Daniel - 2016

In the era of financialisation, increasing income inequality could be observed in most developed and many developing countries. Despite these similar developments in inequality, the growth performance and drivers for growth differed markedly among countries, allowing clusters of different growth...

Persistent link: https://www.econbiz.de/10011449155

A Treatise on the TARGET2 Imbalances & Stagnating Political Economy of Europe

Nasir, Muhammad Ali - 2018

Since the Global Financial Crisis, there have been two parallel issues faced by the Eurozone, Stagnation and TARGET2 … adjustment to the monetary base in the EMU. Specifically, it implies that the Eurozone members are granted a right to settle … keeping the bleak economic outlook of Eurozone in context, we analysed the implication of proposed mechanism at first tier …

Persistent link: https://www.econbiz.de/10012933366

Interest Rate Convergence, External Balances and the Euro Crisis

Nieminen, Mika - 2016

Typically, the catching-up process between rich Northern Europe and poor Southern Europe and the diverging cost competitiveness between the two regions are considered alternative explanations for the widening current account imbalances in the euro area. This paper proposes a new explanation for...

Persistent link: https://www.econbiz.de/10014123749

Structural Asymmetries and Financial Imbalances in the Eurozone

Jaccard, Ivan - 2017

major source of cross-country heterogeneity in the eurozone. We develop a two-country model with incomplete international …

Persistent link: https://www.econbiz.de/10012953871

The Euro's Effect on Trade Balance Dynamics

Nieminen, Mika - 2015

During the pre-EMU period changes in real effective exchange rate or faster-than-trading-partners growth rates Granger caused changes in trade balance in most of the EMU-12 countries. However, our data driven article provides evidence that after the adoption of euro, these Granger causalities...

Persistent link: https://www.econbiz.de/10013023076

Saving Imbalances and the Euro Area Sovereign Debt Crisis

Higgins, Matthew - 2011

For several years prior to 2010, countries in the euro area periphery engaged in heavy borrowing from foreign private investors, allowing domestic spending to outpace incomes. Now these countries face debt crises reflecting a loss of investor confidence in the sustainability of their finances....

Persistent link: https://www.econbiz.de/10013120693

The Balance of Payments Crisis in the Euro Area Periphery

Higgins, Matthew - 2014

Countries in the euro area periphery borrowed heavily from abroad in the years leading up to the sovereign debt crisis, largely to finance increased consumption and housing investment. When the crisis hit in 2010, capital flight by private investors forced these countries to bring domestic...

Persistent link: https://www.econbiz.de/10013049423