Brancaccio, Emiliano - In: STUDI ECONOMICI 2008/96 (2008) 96, pp. 109-128
An alternative interpretation of trade imbalances between member countries of the European Monetary Union is put forward with respect to Blanchard and Giavazzi (2002). It is argued that one of the causes of the present imbalances in foreign accounts lies in disparities as regards the...