Grüning, Patrick; Theobald, Thomas; Treeck, Till van - 2015
Germany entered the euro with a current account deficit but over theentire past decade has run large and persistent … current account surpluses. Besides joining the common currency, the increase of Germany's current account since the late 1990s …. Accordingly, if we link Germany's accession to the European monetary union to lower exchange rate costs for German banklending …