Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have …

imbalances can be achieved if market forces are allowed to redirect capital flows to the north instead of being artificially …

imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to …

Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have …

imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an …In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public …

European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis … debt from foreign to domestic banks. In contrast to the recent literature focusing only on sovereign debt, I show that the … propose a new debt reallocation channel based on informational frictions and show that the informationally closer foreign …

The focus is upon equilibrium real exchange rates, optimal external debt and their interaction, in a world where both … applied empirically to answer the following questions: What is a theoretically based empirical measure of an "excess debt …" that increases the probability of a debt crisis? What is a theoretically based empirical measure of a "misaligned" exchange …