Cecioni, Martina; Ferrero, Giuseppe - Banca d'Italia - 2012
The paper analyzes developments in TARGET2 imbalances within the euro area since 2007, from two perspectives: national … accounts for the growing TARGET2 imbalances: (i) current account deficit, (ii) decrease of net inflows of private capital from … central banks� balance sheets and countries� balance of payments (BoP). We examine the relationship between TARGET2 …