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Current accounts in Europe : implications of the external imbalances for the future of the common monetary policy

Gehringer, Agnieszka - 2012

The paper discusses the seriousness of current account imbalances in the last few decades in Europe, with a particular focus on the European Monetary Union. A closer look at the development of current accounts in European economies suggests the existence of some serious structural problems that...

Persistent link: https://www.econbiz.de/10009505479

Current account adjustment in EU countries : does euro-area membership make a difference?

Herrmann, Sabine; Jochem, Axel - 2013

The paper evaluates current account dynamics in countries with different exchange rate regimes within the EU. In this, the empirical analysis explicitly differentiates between countries with a flexible and a fixed exchange rate regime and members of a monetary union. In addition, we model the...

Persistent link: https://www.econbiz.de/10010211960

Irrungen und Wirrungen mit der Leistungsbilanzstatistik

Erber, Georg - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 92 (2012) 7, pp. 465-470

Deutschland wird aufgrund seiner Leistungsbilanzüberschüsse als Mitverursacher der Krise in der Europäischen … to be a key indicator of the internal imbalances of the eurozone. German current account surplusses are confronted with … current account deficits in the GIIPS countries. But Germany's current account surplus vis-à-vis these countries has rapidly …

Persistent link: https://www.econbiz.de/10009617960

Fiscal divergence and current account imbalances in Europe

Schnabl, Gunther; Wollmershäuser, Timo - 2013

Northern European countries, in particular Germany, have tended to be in surplus. The paper scrutinizes the role of diverging …

Persistent link: https://www.econbiz.de/10009702880

State-of-play in implementing macroeconomic adjustment programmes in the euro area : short version

Gros, Daniel; Alcidi, Cinzia; Belke, Ansgar; Coutinho, … - 2014

makroökonomischen Anpassungsprogramme außerhalb der Eurozone (z.B. Lettland) waren noch viel strikter. Trotzdem erfolgte die Anpassung …

Persistent link: https://www.econbiz.de/10010349252

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

This paper compares financial assistance programmes of four euro-area countries (Greece, Ireland, Portugal, and Cyprus) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007/08 global financial and economic crisis-which were supported...

Persistent link: https://www.econbiz.de/10011715721

Euro area imbalances : how much could an expansion in the North help the South?

Picek, Oliver; Schröder, Enno - 2017

We run simulations of current account rebalancing scenarios in the Euro Area and the European Union based on a closed multi-country input-output model. The spillover effects of domestic demand booms in the Northern European surplus countries are non-negligible, but not large. While they cannot...

Persistent link: https://www.econbiz.de/10011667860

Causality between external balance and (some) fiscal variables : preliminary results for the Eurozone

Carrasco, Carlos Alberto - In: Economics and Business Letters : EBL 5 (2016) 3, pp. 80-86

set of six Eurozone countries – three core countries (Austria, Finland and Germany) and three peripheral countries (Greece …-causality testing (Granger, 1969). Results are not homogeneous for all the Euro-zone countries included in the sample. Evidence of … interest paid on debt for Austria and Germany. …

Persistent link: https://www.econbiz.de/10011573231

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

This paper compares financial assistance programs of four euro-area countries (Greece, Ireland, Portugal, and Cyprus) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007/08 global financial and economic crisis - which were supported...

Persistent link: https://www.econbiz.de/10011635367

Large net foreign liabilities of euro area countries : risks, prospects and policy options

Zorell, Nico - 2017

Over recent years, several euro area countries have registered large and persistent net foreign liabilities. This paper examines the risks arising from these external stock imbalances, the prospects for their smooth unwinding and the menu of policy options. The paper demonstrates that external...

Persistent link: https://www.econbiz.de/10011732721