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Inter-temporal savings, current account trends and asymmetric shocks in a heterogeneous European Monetary Union

Schnabl, Gunther; Zemanek, Holger - In: Intereconomics : review of European economic policy 46 (2011) 3, pp. 153-160

This paper contributes to the discussion on the European current account imbalances by analysing the intra-European trends since 1990 based on the theory of optimum currency areas. The authors show that German unification was the origin of not only the 1992-93 EMS crisis but also rising...

Persistent link: https://www.econbiz.de/10009760197

Slowbalisation in the context of US-China decoupling

García Herrero, Alicia - In: Intereconomics : review of European economic policy 57 (2022) 6, pp. 352-358

While it is too early to confirm the depth and the sustainability of this new trend towards slower globalisation, it may be happening in more domains than we are fully aware of, at least for the near term given the renewed backdrop of the Russia-Ukraine war and the wider use of sanctions globally.

Persistent link: https://www.econbiz.de/10013475414

External imbalances in the EU : A REER-based explanation

Kutasi, Gábor - In: Intereconomics : review of European economic policy 50 (2015) 5, pp. 301-308

The debt crisis of the eurozone revealed a structural problem of the single market rooted in the external imbalance … problem of indebted member states. The assumption of this paper is that the current account imbalances within the eurozone are … based on an intra-eurozone competitiveness disparity originated in the single currency and the heterogeneity of member state …

Persistent link: https://www.econbiz.de/10011346632

Fiscal divergence, current account divergence and TARGET2 imbalances in the EMU

Abad, José M.; Löffler, Axel; Schnabl, Gunther; … - In: Intereconomics : review of European economic policy 48 (2013) 1, pp. 51-58

Diverging fiscal policy paths, housing booms and diverging unit labour costs were driving forces of rising intra-European current account imbalances, which were underpinned by low interest rates. Since the outbreak of the crisis, the adjustment of intra-EMU current account imbalances has been...

Persistent link: https://www.econbiz.de/10009704974

Ten misconceptions about current account imbalances in the euro area

Matthes, Jürgen - In: Intereconomics : review of European economic policy 49 (2014) 3, pp. 160-169

In the pre-crisis period, substantial current account imbalances built up in the euro area. Despite recent progress in economic rebalancing, especially in the countries mostly affected by the euro debt crisis, a controversial debate is still raging about past causes, current interpretations and...

Persistent link: https://www.econbiz.de/10010362732

Gross fixed capital formation in the euro area during the COVID-19 pandemic

Licchetta, Mirko; Meyermans, Eric - In: Intereconomics : review of European economic policy 57 (2022) 4, pp. 238-246

This paper examines the impact of the COVID-19 pandemic on gross fixed capital formation across the euro area. The empirical analysis suggests that the intensity of the lockdown measures to contain the spread of the virus and the country-specific structure of the economy along with other...

Persistent link: https://www.econbiz.de/10013347704