Schnabl, Gunther; Freitag, Stephan - 2010
analysis extends from 1981-2008, the results for Germany mostly capture the situation before the euro was created. - Global … Germany as center countries with rising / high current account deficits (US) and surpluses (Germany). These are matched by … account deficits of countries stabilizing their exchange rate against the euro (euro periphery). Meanwhile, the aggregate …